About Americans not believing they got a tax cut...

Discussion in 'Politics, Religion, Social Issues' started by Rogifan, Apr 15, 2019.

  1. Rogifan macrumors Core

    Rogifan

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    #1
    Some interesting stats here from Guy Benson over at Town Hall. I still contend though if most Americans got a noticeable increase in their bi-weekly take home pay they wouldn’t be thinking they didn’t get a tax cut. No amount of liberal media bias could overcome actual paychecks. My guess is the bi-weekly paycheck increases weren’t significant enough for people to really feel the effects of the tax cut. And with H&R Block claiming 80% of workers didn’t adjust their W4s a lot of people at tax time are probably seeing smaller refunds than normal (or they might even owe). That too makes it harder to sell people on the tax cut. Anyway it’s easy to blame the media for misinformation (and I don’t doubt there was plenty out there) but I don’t think that’s the only reason Republicans aren’t seeing the political benefit of the tax cuts.

    https://townhall.com/tipsheet/guybe...t-n2544750?amp=true&__twitter_impression=true
     
  2. Rhonindk macrumors 68040

    Rhonindk

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    #2
    Going to use a personal example to show you how perception plays into that. I have asked this question of a few people who questioned the "decrease in taxes paid" item.

    Me: "You are saying you are getting less back this year?
    The Other Person: "Yes! I'm getting back less!"
    Me: "If you are paying less taxes per paycheck this year, how do you expect to get back the same or more from your return?"
    The Other Person: "Oh ... Yeah ... That makes sense ..."
    Me: "Look at you taxes paid last year on your W2 and look at this year ..."

    Has worked so far ... on about 5 people ;)
     
  3. Solver macrumors 6502a

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    #3
    Math is the key to understanding this.

    For the first time in many years, I didn’t need to waste my time on collecting up all those extra nic-nak deductions for that schedule A.
     
  4. Plutonius macrumors 604

    Plutonius

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    #4
    Unless people itemized their taxes in the past and claimed significant state / property taxes and or healthcare expenses, they are paying less now.
     
  5. Rogifan thread starter macrumors Core

    Rogifan

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    #5
    Still what people are getting back per paycheck is obviously not meaningful enough and if they didn’t adjust their W4 they could end up owing. None of that is benefiting the Republicans.
     
  6. Mousse macrumors 68000

    Mousse

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    #6
    Wut?! Those "nic-nak" deductions are where the fun lies. I can't be the only one who claims laxatives as a "moving expense."o_O Or cockroaches as "live stock.":p Amirite? As long as you can explain it to the Taxman during a audit, it's all good.;) Someday, I hope to have a loophole named after me. The tax cheat in the knick-knack deductions will be someday be known as the Mousse Dodge.:cool:
     
  7. Rogifan thread starter macrumors Core

    Rogifan

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    #7
    I’ll use myself as an example. Last year I owed the Feds $79. This year it’s over $800. I’m using the standard deduction this year, last year I itemized. I hadn’t adjusted my W4 but after filing my taxes this year I did. That will result in about $50 less per paycheck. We’ll see what it does to my taxes next year.
     
  8. Plutonius macrumors 604

    Plutonius

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    #8
    It's difficult to compare since you probably earned more money, but your total tax bill for the year should have been lower. That assumes that you were not itemizing in the previous year with large state / property taxes and or healthcare deductions.

    Was your total tax bill for the year lower ?
     
  9. jeyf macrumors 65816

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    #9
    i got $68 dollars back
    impressive.
     
  10. Rigby macrumors 601

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    #10
    I don't just not believe that I got a tax cut, I know I didn't because I filed my tax return a few weeks ago. Not being able to deduct SALT makes a big difference here. In general, the tax cuts for those who can benefit from them are small (and only temporary), while the tax cuts for corporations are much larger and permanent (assuming they are sustainable given the gigantic budget deficit they created). It's not just a misunderstanding. There are real reasons why this tax reform is unpopular.
     
  11. Rogifan thread starter macrumors Core

    Rogifan

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    #11
    Yes. Though my taxable income was less as well because I upped my 401K contribution.
    --- Post Merged, Apr 17, 2019 ---
    Supposedly the doubling of the standard deduction was supposed to offset this. Not sure how much it did. Minnesota is a high tax state though not quite as bad as California or New York.
     
  12. Rhonindk macrumors 68040

    Rhonindk

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    #12
    Too much rhetoric floating about.

    I didn't change nice and got a small but noticeable increase per check.
    I pay every year (rather have the funds than the Government). This year I paid less by a decent percentage.

    A win - win for myself.
     
  13. AlliFlowers Contributor

    AlliFlowers

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    #13
    Same paycheck. Quarterly payments. Smaller refund. Without the quarterly, we'd have owed without getting any more money.
     
  14. raqball macrumors 68000

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    #14
    Higher retirement check here (about $70) and owed about the same in taxes this year...

    I think some people are fudging their numbers.......
     
  15. Rhonindk macrumors 68040

    Rhonindk

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    #15
    I could see that. The benefit was highly based on your job / business / etc ...
    Federal I paid less, State I paid more. A net improvement. Still I had to pay close attention to both with changes like this.
     
  16. AlliFlowers Contributor

    AlliFlowers

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    #16
    Which is why most people around up owing money. They don't give the government a loan every three months.
     
  17. Rhonindk macrumors 68040

    Rhonindk

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    #17
    I would contest the term "most people" owing. I could see "most people" getting a smaller refund.
     
  18. AlliFlowers Contributor

    AlliFlowers

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    #18
    I can only judge from my friends and colleagues. You're lucky I didn't say all.
     
  19. Bug-Creator macrumors 6502a

    Bug-Creator

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    #19
    At a 1,000,000,000+ deficit to many people realized that sometime, something will have to give and that they might be at the receiving end.
     
  20. pshufd macrumors 6502a

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    #20
    My income varies widely year to year. I find tax liability to AGI is the best measure and this dropped 2.5% for us this year. Son's dropped 5%.
     
  21. jeyf macrumors 65816

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    #21
    your either in one tax bracket or another
     
  22. Nhwhazup macrumors 68020

    Nhwhazup

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    #22
    This is what I’m afraid of.
    --- Post Merged, Apr 22, 2019 ---

    --- Post Merged, Apr 22, 2019 ---
    The problem is that so many look for that big tax return in the first quarter. Kind of use it like a savings account. They aren’t happy with low or no returns even if they paid less throughout the year.
     
  23. pshufd macrumors 6502a

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    #23
    Tax bracket doesn’t matter as much with other discrete mechanisms in the tax code.
     
  24. samcraig macrumors P6

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    #24
    Perception is reality. Even if people didn't adjust their deductions, owing money at the end of the year is going to sour them on the tax breaks. Memories are short.

    Meanwhile - for me, we owed more this year regardless of changes in deductions.
     
  25. jkcerda macrumors 6502a

    jkcerda

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27 April 15, 2019