From the NYT:
Face It: You (Probably) Got a Tax Cut
If you’re an American taxpayer, you probably got a tax cut last year. And there’s a good chance you don’t believe it.
Ever since President Trump signed the Republican-sponsored tax bill in December 2017, independent analyses have consistently found that a large majority of Americans would owe less because of the law. Preliminary data based on tax filings has shown the same.
Yet as the first tax filing season under the new law wraps up on Monday, taxpayers are skeptical. A survey conducted in early April for The New York Times by the online research platform SurveyMonkey found that just 40 percent of Americans believed they had received a tax cut under the law. Just 20 percent were certain they had done so. That’s consistent with previous polls finding that most Americans felt they hadn’t gotten a tax cut, and that a large minority thought their taxes had risen — though not even one in 10 households actually got a tax increase.
…
Experts are divided on whether the tax law was a good idea. But there is little disagreement on this core point: Most people got a tax cut.
The Tax Policy Center estimates that 65 percent of people paid less under the law and that just 6 percent paid more. (The rest saw little change to their taxes.)
Other analyses reached similar conclusions. The Joint Committee on Taxation — Congress’s nonpartisan team of tax analysts — found that every income group would see a tax cut on average. So did the Institute on Taxation and Economic Policy, a left-leaning think tank that was sharply critical of the law. In fact, that group went even further: In a December 2017 analysis, it found that every income group in every state would pay less on average under the law in 2019.
So far, tax season seems to be playing out more or less as the experts predicted. H&R Block, the tax-preparation giant, said last week that two-thirds of returning customers had paid less tax this year than last (excluding people who owed no tax in either year). Taxes were down, on average, in every state.
“The vast majority of people did get a tax cut,” said Nathan Rigney, an analyst at H&R Block’s Tax Institute. That’s been clear all along, he added, “just now we have real data to back that up.”
…
The tax savings were relatively small for many families, however. The middle fifth of earners got about a $780 tax cut last year on average, according to the Tax Policy Center.
Most Americans would probably welcome a $780 windfall. But in contrast to 2001, when President George W. Bush’s Treasury Department mailed rebate checks to taxpayers, last year’s tax cuts showed up mostly in the form of lower withholding from workers’ paychecks. A few extra dollars in a biweekly paycheck proved easy to miss. Moreover, as taxpayers filed their returns, many found they were due smaller refunds than in the past, which may have further skewed perceptions of the law.
First
Show us the money….
The Feds giveth,
The State taketh away.
Whatever was left is going to cover airfare to my cousin’s wedding in Bumfrig, OH
Many wealthy people are planning an even bigger tax cut by moving out of high SALT areas. These things take time. I suspect my partnership is working on the plans to open a Florida office that at least some would relocate to. Not just to avoid current taxes but to reduce the risk of even worse cash grabs if NJ struggles to stay solvent in the future.
https://www.ft.com/content/72255e50-5c7c-11e9-9dde-7aedca0a081a
“Trump tax changes raise fears the rich will flee New York”
Fake news is saturating the airwaves relentlessly with negativity. that has an impact. They are also busy spinning a third world invasion as a positive somehow for the country. Fake news is the true enemy of the people.
“…negativity…” that’s a good one.
We should eradicate all networks except the supreme emperor Faux news.
That would please the fearless leader. In other news Coal is back!
Trump wins again, everybody got a tax cut, except the people who don’t pay taxes and the ones who weren’t paying their fair share to begin with (NJ, NY, and CA homeowners). JJ probably got one too, because he only pays $11K tax
on his $1.3 million mansion.
The sanctuary cities don’t even want those illegal aliens here. Pu ssy Hypocrite DemocRATS.
Thank god we are getting that wall build.
What have the drug addled brain damaged boomer wasp locust brought?
Cheer up people! Only 20 more years most boomers are gone.
https://youtu.be/w6qYjisp51M?t=455
I do find his immigration policies fascinating.
He did pull an epic troll on the Dems. They are fuuuucked.
The democrats: Do as I say, not as a I do. They would throw you a life preserver and make sure the end wasn’t tied to the boat. It’s all about symbolism to them. They could car f.ucking less about their constituents.
We got hosed, 30k due on federal. Our with holdings went down and taxes up by about 10k. Losing almost 36k in property tax deduction and 35k in state income tax hurts, we weren’t in the AMT this year but AMT is lower because those dollars are in the highest bracket.
Funniest item regarding the Dems and Trump’s proposal were the early [honest] responses from less polished Dems.
More than a few Dems are on record right after the announcement stating that Trump’s policies were “retribution” and “punishment”.
Punishment can only be effected using something negative….so, before the Party spin kicked in a little bit of honesty actually trickled out from the Dems in that they acknowledge that unfettered migration is, in fact, negative.
LOL. Can’t make it up. Typical Dem hypocrisy….it’s good for all of you, but not for me.
The dems say to let people in no matter how many show up. They then complain about sub standard facilities that were never designed to handle that amount of people. They say their states and cites are sanctuary’s for them. The administration wants the sanctuary cites to help and they say NO. THEY ARE SAYING NO. effffing Hypocrites.
Liberal “Logic”
This will get get Trump re-elected.
11:15 NIMBY !! Right?!
The progressive philosophy is ultimately irresponsible. By acting as a spillover for the human refuse that is unable to feed, house or educate itself and flooding in currently they are perpetuating the behavior of overpopulation in those shlthole countries. It excuses and enables their irresponsible behavior. HIV carriers
With 4-5 kids and still procreating, etc.
Progressives gain power by destroying. To take control of The health care system you first have to destroy it. Same with education. Their plan is working.
Dude: didn’t you peek at this thing? It really drives the point home where our enemies are.
https://youtu.be/bX3EZCVj2XA?t=300
ExEssex says:
April 15, 2019 at 10:34 am
“…negativity…” that’s a good one.
We should eradicate all networks except the supreme emperor Faux news.
That would please the fearless leader. In other news Coal is back!
Bill to make Chicago 51st state…separate from Illinois
http://www.ilga.gov/legislation/BillStatus.asp?DocNum=1138&GAID=14&DocTypeID=HR&SessionID=91&GA=100
ExEssex says:
April 15, 2019 at 10:57 am
I do find his immigration policies fascinating.
He did pull an epic troll on the Dems. They are fuuuucked.
For No One:
https://nypost.com/2019/04/14/bernie-sanders-is-cool-with-capitalism-for-himself-but-no-one-else/
GdBlsU45.
Shut the fcuk up.
We understand. You have fantasies of boning the moron in chief. Enough already. We get it.
12:33 great mind on that gentleman.
which town do you live in? We can have a few bus loads sent their since you are apparently so generous.
“Bill to make Chicago 51st state…separate from Illinois”
Sure, as long as you Spring Central Valley/NCalif from the LA-SF seaboard.
Hello! Looking for a girl for one night?
Register and find me, my nickname Jenny24 ->>>>>>>> http://b.link/sexdate
Notre Dame burning, spire collapsed, trying to save the rose window…..very sad
Angry retiree in NJ does not want to pay his fair share. Income for retirees in NJ taxed when it’s over $100k.
https://www.nj.com/opinion/2019/04/why-im-leaving-new-jersey.html
Notre Dame gone. Some attempts to save the artwork in the back of the Cathedral. 850 years old a world treasure gone. Heartbreaking. So glad we got to see it last Fall.
The New York Department of Health shut down an Orthodox Jewish day care center in Brooklyn Monday for refusing to hand over immunization and attendance records in violation of the city’s emergency order mandating proof of vaccination. Health officials slammed 23 other yeshivas and day care centers with citations for violating the order to keep kids without shots way from other students as 44 new measles cases were identified by the DOH. “This outbreak will continue to worsen, and the case count will grow if child care programs and schools do not follow our direction,” Dr. Oxiris Barbot, city health commissioner, said. “It’s crucial in this outbreak that child care programs and schools maintain up to date and accurate immunization and attendance records. It’s the only way we can make sure schools are properly keeping unvaccinated students and staff out of child care centers to hasten the end of this outbreak.”