Wow, liberals are just fucking retards. This topic just proves it. They are complaining that people weren't able to loan their money to the government interest free. It's like these people really don't get it. They must think your tax return is some extra money the government gives you. LOL it's not even worth debating people who don't even understand what they're debating
Average tax refund down 17 percent, IRS reports
- Thread starter LV426
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signalmankenneth
Verified User
I did not get a tax refund, I had to pay?!! Take that Trump/GOP tax cuts shove it up your ass Secretary Steven Mnuchin!
canceled.2021.1
#AMERICAISDEAD
I did not get a tax refund, I had to pay?!! Take that Trump/GOP tax cuts shove it up your ass Secretary Steven Mnuchin!
Couldn’t have happened to a bigger prick
You fucking libtards claim to love higher taxes. So pay up bitch
signalmankenneth
Verified User
Callinectes
Proud MAGA Semi-Facist
Hey John Forbes Nash, what would happen if you reduced your withholding to the point where you neither owed the government or received a refund in April, then you took the money (the difference in your take home pay before and after the withholding change)in your suddenly larger paychecks, and just deposited it in some interest bearing account or a short term investment until next April? Do the fucking math, would you have the same amount of cash, at the same time of year, if you let the government give you BACK YOUR OWN MONEY, OR IF YOU USE SOME COMMON SENSE AND DO IT MY WAY!?
Callinectes
Proud MAGA Semi-Facist
I did not get a tax refund, I had to pay?!! Take that Trump/GOP tax cuts shove it up your ass Secretary Steven Mnuchin!
Wow! You accidentally did a smart thing! Now take a remedial math class and calculate your withholding so you don’t have to pay anything next year, and you don’t get a refund either! Yeah, I know, it’s fiscally conservative! But it can be our little secret!
The point is that Trump and the GOP promised there wouldn't be changes to refunds.
So all this is just an excuse for bad policy.
Callinectes
Proud MAGA Semi-Facist
No, the point is the title of this thread that YOU started, "Average tax refund down 17 percent, IRS reports". The only promise the GOP made was that taxes would go down for the majority of taxpayers. Paul Ryan said that withholding would decrease also. Both promises were kept. If the government changes it's withholding policy(which it did), then logic dictates the stupid "refund" amount is going to change, i.e., it's gonna get bigger or smaller than it was before the change. The IRS would much rather cut a check for your simple ass than chase me down to get a check out of me. They like you right where you are, a mushroom in the dark being fed bullshit. But I figured you for one of those "I love to pay taxes" kind of guys! Was I wrong? Why do you want the SALT and mortgage deductions reinstated? Do you understand that without these deductions, you are handing over even MORE of your hard earned money to the government? But if this is all about the refund, here is something else you can do: Do a new W-4, increasing your personal withholding by 17%, your paychecks will go down, but your precious refund should be back up where it was before the russian tax cut
No, the promise was that wages would grow by $4K-$9k.
The promise was that the market would grow.
The promise was that you could do your taxes on a post card.
The promise was that revenues would grow.
The promise was that there wouldn't be any more outsourcing and offshoring.
The promise was that refunds wouldn't be affected.
The promise was that it wouldn't be stock buybacks.
You're now moving the bar on what you promise because all your other promises were shit. Since they were all shit, why would any new promise have merit?
Callinectes
Proud MAGA Semi-Facist
Now all I need from you is a link to somewhere(preferably a video)showing Trump actually promising every one of those points. Pay close attention to the wording on each of the points though, that has bitten you in the ass before. You have to ask yourself if he is stating a possible outcome, explaining a concept, or actually making a promise. I’m counting on you, because the only thing I ever heard from him was lower brackets, doubled personal deduction, higher child tax credit(doesn’t affect me), and elimination of SALT and other exemptions(again, none of which have any effect on me). And I don’t even think of those things as promises, he was explaining what he wanted to do, and for me he nailed it
I just did that for the $4K-$9K wage increase you all promised in my previous post.
Reducing the statutory federal corporate tax rate from 35 to 20 percent would, the analysis below suggests, increase average household income in the United States by, very conservatively, $4,000 annually.
In October 2017, Treasury Secretary Steven Mnuchin forecast that “the stock market will go up higher”
Imagine filing your taxes on a form the size of a postcard. Wouldn’t that be something?
-Paul Ryan tweet, April 25th 2017
Republicans, including White House adviser Ivanka Drumpf, are promising that the vast majority of Americans will be able to file their taxes on a postcard-size form under the newly passed GOP tax bill.
Kudlow, “Face the Nation,” July 29: Even the CBO numbers– even the CBO numbers show now that the entire one-and-a-half-trillion-dollar tax cut is virtually paid for by higher revenues and better nominal GDP.
Drumpf's treasury secretary: The tax cut 'will pay for itself
According to this, revenues are coming in slightly higher, overall, at 0.5% above 2017:
https://www.investors.com/politics/editorials/trump-tax-cuts-federal-revenues-deficits/
However, since the GDP grew in nominal terms by about 5.5% in that time, we'd have expected revenues to grow by 5.5% just as a "par for the course" figure. And, to keep pace with population growth and inflation, you need well above 0.5% revenue growth per year (more like 3%), just to maintain the same level of real per capita government services without driving up deficits.
Actual Treasury Statements show 2018 was 2% ($63B) below 2017. I mean, we can all do math, right?
Receipts
Jan-2017: $344,069
Feb-2017: $171,713
Mar-2017: $216,584
Apr-2017: $455,605
May-2017: $240,418
Jun-2017: $388,660
Jul-2017: $232,040
Aug-2017: $226,311
Sep-2017: $348,722
Oct-2017: $235,341
Nov-2017: $208,374
Dec-2017: $325,797
Total-2017: $3,393,634
Receipts
Jan-2018: $361,038
Feb-2018: $155,623
Mar-2018: $210,832
Apr-2018: $510,447
May-2018: $217,075
Jun-2018: $316,278
Jul-2018: $225,266
Aug-2018: $219,115
Sep-2018: $343,559
Oct-2018: $252,692
Nov-2018: $205,961
Dec-2018: $312,584
Total-2018: $3,330,470
-$63B (-2%) 2018 vs. 2017.
You can't argue math, right?
Average tax refund down 17 percent, IRS reports
...
Last year, Treasury Secretary Steven Mnuchin predicted “there won’t be a change” in the share of people receiving refunds.
...
Unveiling new withholding tables last year, to account for the new law, Mnuchin called accusations by Democrats that the administration would drive down refunds “ridiculous.”
https://www.politico.com/story/2019...CXzpSxcZXbPNvIdksR-_vLj6TEHCigeFqFU-UVSrnP_II
Callinectes
Proud MAGA Semi-Facist
The average American household income could increase between $4,000 and $9,000 a year in wages and salary alone by cutting the Federal corporate income tax rate from 35 percent to 20 percent, according to an analysis by the Council of Economic Advisors (CEA).
You mean this? Does the word "promise" appear anywhere? As far as a projection or prediction goes, do you not concede that someone with a doubled personal deduction, enough children qualifying for the increased tax credits, living in a low or non taxing state, could possibly see their annual income increase by $4-9K?
The article I used might have been using fiscal years instead of calendar years. Now that I think of it, calendar years are more appropriate here, since that's the relevant time block for a tax change.