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Valued Social Butterfly
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Re: What Happened To Our Tax Refunds ?

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Message 11 of 58

Simply put , those who pay the most is all relative and 99% of us are getting skrewed !!

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Trusted Social Butterfly
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Re: What Happened To Our Tax Refunds ?

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Message 12 of 58

What really gets me mad is that although I am self employed full time, I hardly make a large amount of money. I don't have the luxury of having a generous pension or great investments for retirement income. But I am not complaining. I like what I do. I feel that I am helping a lot of people and making money at the same time. My earnings are comfortable, but hardly put me in the wealthy catagory. 

 

I began taking my social security benefits last year since my benefits topped out when I reached 70 years of age. But my social security benefits are taxable! So although I paid taxes on the money that I contributed to social security since I began working in 1965; I now have discovered that I must also pay taxes on my benefits. I could understand paying taxes on my social security benefits if I earned more than $250,000 a year in AGI. But my AGI is much less after business deductions. 

 

Then since I am self employed I still have to pay the "self employment" tax which is the employer's matching contribution to social security. So this amounts to the full 15.3% of my taxable income, which also includes my social security benefits. Again, if I were wealthy with a huge income, I could understand taxing social security benefits. But I am solidly middle class and not wealthy by a long shot. 

 

If our congress can quickly pass a tax bill that gives millionaires and billionaires huge tax breaks; why can't they pass a bill that only taxes social security benefits for those who are truly wealthy? As for me, I probably will never vote for another Republican in a state and federal election again. This is the legacy of Paul Ryan's speakership of the House. He was able to get a big tax break to the wealthiest and giant corporations. But how much of that has actually filtered down to the working people? Yet those same Republicans are blaming ballooning federal deficits on spending for Medicare, social security, Medicaid and food stamps. 

 

 I just hope that this tax travesty will be enough to wake up people to realize that the Reoublican party only cares for the wealthiest and doesn't give a hoot for middle America and working people. 

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Re: What Happened To Our Tax Refunds ?

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Message 13 of 58

@ChasKy53 wrote:

@GailL1 wrote:

ChasKy53 wrote  

It screwed me too. I'm not talking in reference to a tax refund check either, I'm talking about an increase in the percentage I pay.

 

-----------------------

Do you know why?  Limit on SALT ?

Having to pay some more in could be due to many things unrelated to tax reform.

 

I always have to pay more in - mainly due to tax on SS benefit, higher than normal royalties - usually in the last quarter or higher investment dividends - usually account for most of these higher amounts on the taxes which I file quarterly. 

 


Of course I know why, but it is really none of your business. I did lose deductions under this new tax plan.


I didn't ask you to share the reason(s)  ONLY that YOU know why.  

But it is nice that now some of these deductions on the FEDERAL return have equalized on a national basis.

 

Who pays the most in State taxes - the ones that make the most.  

Who pays the most in Property taxes - the ones that have the property that is worth the most.

By placing a limit on these (2) types of deduction on the Federal return, we have taxed those who have greater assets in these areas based on how their own state measures them.

 

 

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Re: What Happened To Our Tax Refunds ?

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Message 14 of 58

 


@TxGrandpa2 wrote:

@ChasKy53 wrote: (in blue text)


Thank goodness, you have broken the suspense. I knew a trump supporter would have to deflect by bringing Hillary into this. You do this to somehow, erroneously at that, justify trump lying? ROFLMAO !!!

 

So people who will pay a higher tax aren't "average people"? ROFLMAO again !!!

 

Your assumptions aren't doing so hot.

 

In reference to the "liberal comment":

 

Liberal (sometimes Libtard):   term used by American Conservatives to describe someone who knows history, science, economics, world affairs, grammar and spelling. In other words, actual facts.


Your post has absolutely nothing to do with the topic and comes across as being a personal attack.

If I am off topic it's your fault because I comment on specific things within your post that I responded to. As far as a "personal attack", then you should report my post and leave it to the moderators. I disagree on it being a personal attack.

 

Have you either received your refund or calculated what a refund would be or whether you would be required to pay more? The same CPA headed bookkeeping firm has done my taxes for years and they have indicated that I will be paying more this year than I would if we were using the old tax plan If not what is your problem?  My "problem" or 'point' is that trump lied and misrepresented how this tax would effect everyone. I've already received my refund and have gone back to DFAS to adjust my withholding so that I will be getting the money and drawing interest instead of leaving it with them without interest. I adjusted my withholding amounts at the beginning of the year so my complaint is not what they withheld, it's that I pay more in taxes this year than I would have if we had remained on the old tax plan.

 

You have no idea of my politics except when you make an assumption, and that reflects on you, not me.  This is a political forum and you have spread your political opinions all over it, I "assume" nothing. You assume that since I didn't go along here with the liberal crowd that I automatically support Trump. I do know that you have not once criticized anything that trump has said, tweeted, or done. So because of that you don't support him? I criticize trump so you assume that I didn't support him. You never criticize trump so I assume that you supported him or support him now.

 

There is more to life than living and breathing politcs, Then why are you here posting in a political discussion group? not even being able to discuss other topics without inserting negativity against politicians of other views, and including that about other posters. Oh?You mean like you post negative stuff about Hillary and other politicians of other views including those of other posters?

 

This topic is about tax refunds I know what this topic is about, I posted it, and it's about more than just tax refunds. and I have to wonder if you have even calculated yours, wonder no more, I don't "calculate mine", a certified CPA heading the bookkeeping firm that I use does that for me but even if yours was lower I doubt you'd be happy because that was because a Republican administration passed them. I know who passed them, they lied and I am paying more in taxes under this new plan than I would have using the old plan. I think that my certified CPA knows more than you do about both me and my taxes.

 

And I'm more of an independent, that never ever criticizes trump not a liberal Democrat that have enough honesty and fortitude to stand up and call out trump's hundreds to thousands of lies because they are more interested in interferring in our personal lives through social engineering, and as they have been doing by decree or executive orders. You see ......... you are the one that seems to be off topic, and quite mistaken about who does "social engineering" and "interferes in our lives"..

 

 


 


"The only thing man learns from history is man learns nothing from history"
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Re: What Happened To Our Tax Refunds ?

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Message 15 of 58

@ChasKy53 wrote:


Thank goodness, you have broken the suspense. I knew a trump supporter would have to deflect by bringing Hillary into this. You do this to somehow, erroneously at that, justify trump lying? ROFLMAO !!!

 

So people who will pay a higher tax aren't "average people"? ROFLMAO again !!!

 

Your assumptions aren't doing so hot.

 

In reference to the "liberal comment":

 

Liberal (sometimes Libtard):   term used by American Conservatives to describe someone who knows history, science, economics, world affairs, grammar and spelling. In other words, actual facts.


Your post has absolutely nothing to do with the topic and comes across as being a personal attack.

 

Have you either received your refund or calculated what a refund would be or whether you would be required to pay more?  If not what is your problem?  I've already received my refund and have gone back to DFAS to adjust my withholding so that I will be getting the money and drawing interest instead of leaving it with them without interest.

 

You have no idea of my politics except when you make an assumption, and that reflects on you, not me.  You assume that since I didn't go along here with the liberal crowd that I automatically support Trump.

 

There is more to life than living and breathing politcs, not even being able to discuss other topics without inserting negativity against politicians of other views, and including that about other posters.

 

This topic is about tax refunds and I have to wonder if you have even calculated yours, but even if yours was lower I doubt you'd be happy because that was because a Republican administration passed them.

 

And I'm more of an independent, not a liberal Democrat because they are more interested in interferring in our personal lives through social engineering, and as they have been doing by decree or executive orders.

 

 

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Valued Social Butterfly
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Re: What Happened To Our Tax Refunds ?

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Message 16 of 58

@myexper wrote:

@TxGrandpa2 wrote:

@rker321 wrote:

I knew it  I knew it  and I knew it.  HOw many times we asked in this message board whether we liked the tax law?

And how many times people here said that we should all be grateful for the Tax law and how wonderful it was going to be for everyone.

I remember my answer, I will not say whether I like it or not until I can see how is going to affect me.

Well, yes, I had the feeling that it would screwed me. to kingdom come. and apparently it has.


Of course you did.  And how can you say that it will be adverse to you until you fill out and file your tax forms?  For those who only take the standard deduction it does help a lot.

 


It doesn't help much when Trump also took away personal deductions!


Not only that, he diddled away the "extra" deduction from being over 65, which had dwindelled from DOUBLING what you got for the personal deduction pre-Reagan to $1250 each added to your Standard Deduction in 2017.

 

Here's the numbers - in 2017, an AGI of $50,000 for 2 seniors filing jointly got a Standard Deduction of $15,200 and a personal deduction of $8,100 so their taxable income was $26,700 and tax owed was $3,078. In 2018, lil donny raised the standard deduction to $24,000, but you get no "bump" for being over 65 and NO PERSONAL DEDUCTION so your taxable income decreases to $26,000.

 

That's $700 LESS than you paid taxes on in 2017, BUT the form says you pay 12% of that amount which is $3,120, or $42 MORE than you paid on identical AGI in 2017.

 

Anyone not a very rich retiree who claims lil donny gave them a tax cut either never bothered to check the numbers or is lying to cover for the orange ToadPOTUS.

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Re: What Happened To Our Tax Refunds ?

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Message 17 of 58

@TxGrandpa2 wrote:

@ChasKy53 wrote:


And the answer may be nothing like that at all. But nice try.

 

The question also is why do trump supporters not want to admit that trump and the Republicans lied about this tax plan that they passed.


Do you think that a President Hillary Clinton would be honest with the truth?  She apparently wasn't during the campaign.  From what I have seen the average person benefited from the tax plan.  I certainly did.

 

Based on your previous posts through the years, you wouldn't agree on anything that didn't have 'liberal' branded on it.


Thank goodness, you have broken the suspense. I knew a trump supporter would have to deflect by bringing Hillary into this. You do this to somehow, erroneously at that, justify trump lying? ROFLMAO !!!

 

So people who will pay a higher tax aren't "average people"? ROFLMAO again !!!

 

Your assumptions aren't doing so hot.

 

In reference to the "liberal comment":

 

Liberal (sometimes Libtard):   term used by American Conservatives to describe someone who knows history, science, economics, world affairs, grammar and spelling. In other words, actual facts.


"The only thing man learns from history is man learns nothing from history"
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Re: What Happened To Our Tax Refunds ?

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Message 18 of 58

@ChasKy53 wrote:


And the answer may be nothing like that at all. But nice try.

 

The question also is why do trump supporters not want to admit that trump and the Republicans lied about this tax plan that they passed.


Do you think that a President Hillary Clinton would be honest with the truth?  She apparently wasn't during the campaign.  From what I have seen the average person benefited from the tax plan.  I certainly did.

 

Based on your previous posts through the years, you wouldn't agree on anything that didn't have 'liberal' branded on it.

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Re: What Happened To Our Tax Refunds ?

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Message 19 of 58

@TxGrandpa2 wrote:

@ChasKy53 wrote:



There ya' go again, erroneously assuming you know all about the situations of "the average person".  Then dismissing them with "have a good day pardner".

 

Well .............. have a good evening.


Like you posted in another topic, was I posting to you? Your post had nothing to do with my answer. Doesn't matter who you posted to, this is a public forum and anyone has the right to comment on it. Of course it had to do with your answer, which was only an assumption.

 

And yes, the standard deduction includes the personal deduction that was done away with.  And from what I understand, the new taxes didn't eliminate being able to itemize.  I doubt many complaining here itemized in the first place. You have doubted many things that are true.


 


"The only thing man learns from history is man learns nothing from history"
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Re: What Happened To Our Tax Refunds ?

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Message 20 of 58

@TxGrandpa2 wrote:

@ChasKy53 wrote:


Have you stopped to think that it's because you seem to think you know about other's situations when actually you don't?


In most cases here it is relatively easy to figure others' situations out.  They come across as similar to situations in one's life experiences.

 

What does that have to do with tax refunds?   The question is what happened to our tax refunds.  The answer might be that most haven't filed yet.


And the answer may be nothing like that at all. But nice try.

 

The question also is why do trump supporters not want to admit that trump and the Republicans lied about this tax plan that they passed.


"The only thing man learns from history is man learns nothing from history"
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