DawgTalkers.net Forums DawgTalk Palus Politicus Poll: Majority of Americans say they are not seeing change in paychecks due to tax cuts

His imaginary socialist govt gave him other peoples money.

Married couple...no kids...make $70,000 per year. Saves $1,200.

I got a couple for you Willie ... and please let me know if this is just their tax bracket savings or savings after they’ve done their tax returns ....

Single mom .... 2 kids making 35k ...

Married couple .... 2 kids making 35k ...

Married couple 1 kid making 47k ..

Married couple 4 kids making 47k ...

Gracias ...

Need the ages of the kids. It might take me a couple days to get around to setting that up (file) so I can respond intelligently. The examples I've been giving are actuals. FYI: You will have some Earned Income Credit in those examples.

For the 35k examples lets say the kids are 12 and 17 for the tax year ...

For the 47k examples lets use 9, 10, 11 and 17 ....

So this will be their taxes after doing their returns .... can u tell me the difference in the CTC and the ACTC between last year and this year ... very curious as to how thats going to work next year ... I haven’t started looking yet ...

One of the reasons i picked the 47k with 4 kids ... i want to see if the CTC increase is enough to offset what their losing in the 4050 exemptions for everyone ... in 17 their standard deduction was 12,700 ... next year it will be 24,000 ... but their losing 24k + in exemptions for everyone ... when its all said and done ..... their adding 12,700 to their taxable income in 18 ...

Well now that i’ve Done all that i can do the quick math ... wont be 100% but it will be in the ball park ... lets see here ...

12,300 is 2460 at 20% ... so u add 369 to that for the 3% and that means their 2829 more in taxable income .... so now the question becomes do they get 2829 more in CTC and ACTC (if their is such a thing) more than they did for the 2017 tax year ....

How’d i do Willie ... ...

[/quote]

I looked at my pay stub for Jan, Feb, March 2018. Less take home, more with holding. My tax is going from 12% to 25%. 5% more then the corp rate.

Again...Can you say every middle class American is getting a tax cut? Mr. Twitter dee did. [/quote]

What changed that you went from 12% to more than doubling your tax at 25%?

What changed? [/quote]

Possible employer/payroll withholding error? We were warned to double check our withholding status at the time of changes.

I suppose that's a possibility. And if that's what happened, and perfect hasn't figured it out, it will show on his return next year.

But, I really question if the employer made a mistake like that.

It would be neat to hear from perfect as to the exact details as to why his taxes more than doubled.

Probably was claiming 2 or 3 on his W4 then when trump tax cut went into affect changed his w4 to 0 to so his tax witholdings woukd go up on purpose so he could say trump screwed him over....but that’s just a theory

However....employers make mistakes all the time.

Certainly.

I'd just like to hear from perfect how his taxes more than doubled. And what the circumstances really were/are.

My guess is he's looking up ways he can defend his statement that his taxes went from 12% to 25%.

Either he got a huge raise, changing his income bracket, or his employer made a mistake, or he changed his withholding, or he lied.

His taxes did double as I went out of my way to inform Trump about him.

im gonna go out a limb and say they didn't...just a hunch

I would put my assets, liabilities, and investments on a balance sheet... not on my income taxes. In fact, there isn't even a place to put them on your income taxes... income taxes are only concerned with one thing, guess what that is?... yep, income.. and things that affect your income, which assets, liabilities, and investments do not... the income or loss from your investments might, but that's it.

Perfect - how did your taxes go from 12% to 25%?

Yes I did. I was on my phone yesterday and was probably 5 posts behind on any thread. I'm not a quick keyboardist on the phone. Thank you for giving me the info and being so willing to put in the work. Thank you

I'm curious if you could see what that person's future tax filings may look like once the rate goes back up. I don't mind a tax cut, I think income should be one of the lowest taxed things in the US.

Is it even know IF it will go up? I mean, the tax rates were the tax rates, until they got lowered, right?

So, the tax bill says they will go up in the future. Who's to say that doesn't change as well?

I'm serious. I'd like to know how your taxes doubled under a tax cut scenario. Give us the info so that we can avoid having our taxes more than double.

What happened?

Yes, it's literally written in the tax code. It would be a safe thing to assume that taxes will go. Not only is it written into the tax code, switching tax codes could cause us an even greater deficit.

So, what was in last years tax code? Oh, it changed.



As for the deficit? AS some on here say "who cares"? Right?

The debt? Who cares, right?

Gov't. has proven that once they get their hands on money, they won't let go. And the surely won't let a deficit deny them from spending more and more each year, regardless of tax.

Next post will be a perfect example, from a local point of view.

Arch since you're clearly so knowledgeable on tax legislation, could you tell me if major tax legislation passes the House and Senate every year?

Also in the immortal words of whining cons, 'Teh Deficit '

4 years ago, our local water treatment plant said they needed an upgrade. Okay. Taxes were raised to pay for it, over I believe 30 years.

(anyone remember me posting year or 2 ago about a town in Cal. that begged and pleaded with water users to conserve water, which they did, and at the end of the year the town said "Well, we didn't sell as much water as we thought we would, so since you conserved so much, we're going to have to raise your rates.) Anyone remember that?


Anyway, the town (here)raised tax rates to improve/expand the water treatment plant. That was approved by ballot.

Just recently, the town came out and said "well, we don't generate enough revenue, so we're going to raise the water rate 8% this year, and waste water will increase by 14%. We have to do it this year, and next year will see the same increases, and we'll probably have to have the same increases in the 3rd year as well, just to 'cover' our costs.

That is, for water, a 24% increase over 3 years. For waste water, it is a 42% increase.

Meanwhile, every Tom Dick and Joe that works for the water plant seems to have a town vehicle provided to them, gets a 3% raise every year......gov't. That's why. They never run out of reasons they need more money, and they never have enough money to do what they think needs to be done. Much of the time, not much gets done, other than raising rates.

Don't know.

What I DO know is it would take nothing for the house and senate to change it. (well, I take that back - it would require both house and senate, dems and R's combined, to get all their pet projects included in a bill, in order for them to change it.)

So it's extremely unlikely. Thank you for agreeing with me. You should do this more often, Arch.

And since I'm on a rant about gov't. waste, take this. Our town had no problem with trucks going through it. Only issue was the railroad tracks - it slowed traffic, obviously.

A number of years ago, our town decided to redo the street downtown. Made it look perfect, picturesque actually. Trucks never had a problem turning from 1 state route to another. Until the town re-did the road.

They put up lovely fancy street lamps, put bollards at the intersection of the 2 st. roads........and.....semi's couldn't make the turn.

Now, the tax payers paid for redoing the street. With the new issue of trucks getting stuck, the tax payers had to pay to buy the building on the corner. The tax payers also had to pay to have that building torn down. The tax payers had to pay to widen the street at that corner.

Meanwhile, the railroad tracks still exist.

Since everything the town did did NOT change the issue of trucks getting stuck (where they never got stuck before), the town decided they wanted to reroute the 1 st. route to a county road. The county didn't like that.

The town kept saying "we need to get the trucks out of town". The businesses in town (and yes, some are national businesses - like Con Agra, Sauder Woodworkig, Bil-Jax - look them up) all said there wasn't any problem, other than the railroad tracks.

Town didn't like hearing that, didn't like hearing the county and township was against re routing the state route, so they tried to pull the "we'll take over the fire department - the township fire department - in order to threaten you to get our way.......



Look, I don't trust any gov't. with any of my money. It's wasted for the most part. Local, state, federal.

I view most gov't. as a necessary evil, with evil being the big part. I like a fire department. They come and save other buildings. I love the rescue squad - they save lives. I like the idea of police coming to take reports on crime, and sometimes following up on it.

I don't like gov't.

If only that was what I said. But, it isn't what I said.

Then you will answer my question about how quickly tax legislation gets approved and goes through? What the average wait time is between FEDERAL tax legislation, not your water bill, being changed?

I'm going to guess you were talking to me?

How long did it take the tax cut to be approved? Thanks in advance.

11 months for this President. So are you going to quit playing dumb are you expecting to pay 0 dollars in Federal income tax in 3 years because "future legislation".

No, "major" tax legislation is actually fairly rare, which is why it's such a big deal and generates so much anxiety... maybe every 3 or 4 years, sometimes longer than that. There are minor tweaks most years, things expire from previous legislation, etc... Major tax legislation usually happens early in a new Presidents term because almost every President runs on enacting some type of "major" tax reform...

What are you talking about? Seriously.

Where did I say I was going to pay 0 in federal income taxes? Where in the hell did that even come up?

Are you okay?

You're the one saying we can't use the future tax code to make plans about taxes.



Who's to say that the tax code doesn't go down to zero in Arch's imaginary world. Still looking for those answers you owe me btw.

What in the good Lord's name are you talking about? Really.

YOU are the one saying we CAN assume todays tax code will exist forever. Not me.

And what on earth is this statement about?

What are you even thinking? Who said that?

I literally never said such a thing. If you weren't aware, the tax law was written with the next 10 years in mind. The numbers over the next 10 years have been established and is law. I was wondering what someone's tax returns would look like in 3 years. You were the one who suggested that in 3 years Congress might pass more tax cuts and possibly just get rid of the income tax altogether. I do not know you think.

Well there's the problem right there: it's got it's very own, built in crisis.