DawgTalkers.net Forums DawgTalk Palus Politicus Its Tax Time

It's only been that way for 50 years. No need for Trump to be held to the same standard. I understand.

Wife used to get upset......."I have friends that are getting back $7,000. Why don't we get any back?" Because, honey, if your friends are getting back $7,000 a year, all they did is over pay by $134 a week throughout the year."

To answer your last question(s). I do not have any clients in the top 3% of earners or income. However, if they have earned income and are in that 3%, there are no magical loopholes or tax breaks that open up for them that would not open for family #2 in my example...meaning there aren't any new breaks for that group...only higher marginal tax rates.

FWIW, the rest of your last post is very reasonable and I agree with most of it...maybe all of it actually. However, my reference to obscene and/or fair circles back to my point of 'how much more paid in is enough'?

If a family that paid in $120,000 in federal taxes now pays in $105,000 due to the tax breaks, that doesn't mean they aren't still paying in an awful lot of $$$. Of my higher, taxpaying clients...far and away the majority are ok with paying more - and paying at higher rates even - but they've had enough of politicians making them out to be evil and making them out to be people who 'don't pay any (or enough) taxes'. Hence my (and their) question of how-much-is-enough?

Huge Tax break for the middle class? LOL Ok.thanks trump supporters!

Here's the real disconnect. People were told that, "the average family will save $4000 dollars."

That's not what the vast majority are seeing. They simply weren't taking into account that this would be an average of ALL families. That includes families that make millions and billions. Those aren't "average families". But it was a nice play on words to sell an idea.

So they were sold a bill of goods and are just now figuring it out.

*Scratching my head* What I could never figure out is that if Double-Taxation of Income is Unconstitutional. Then why do we have to pay taxes on our Social Security

*Scratching my head* What I could never figure out is that if Double-Taxation of Income is Unconstitutional. Then why do we have to pay taxes on our Social Security

*Scratching my head* What I could never figure out is that if Double-Taxation of Income is Unconstitutional. Then why do we have to pay taxes on our Social Security

Because that money was never taxed when you earned it?

@PitDawg...I think he might be referring to the debate of straight tax-refund numbers versus additional pay-check earnings + tax refund, which better represents the tax liability spread through the year.

I have heard a couple people complain they have received $1000+/- less than last year. But I also know what they saw for in increase in their weekly paycheck, and if they did the math they were about even or possibly ahead, but when I asked about the extra weekly earnings, the looked completely lost.

Well, the days of having tax advantages for owning a home are over. There is now a $10K cap on how much you can deduct for mortgage interest and property taxes COMBINED.

This really sucks because those 2 numbers combined are always WAY more than $10K for me. Now, my deductions are seriously lower, which makes my Adjusted Gross Income much higher and therefore my tax liability seriously higher.

This little trick is going to cost me thousands of dollars. Awesome.

The GOP should drop the elephant mascot/emblem and adopt a Big ole Screw with a bunch of nuts as their new one...

Because that money was never taxed when you earned it?

Well, I would guess you've gone from the 12% bracket to the 25% bracket to the 30% bracket?

Did we not pay that tax based on our income? Were we not FORCED to pay that tax with the promise of SS? and I may be wrong but we pay 6.2 percent of our income into SS and we have already paid taxes on our total income.

It’s not a bracket.

Next you and willit will be saying “we never liked tax brackets nor do we still like tax brackets.

Double taxation? What about the estate tax, or inheritance tax as some call it?

That money was taxed when earned, yet somehow the government thinks they should get more when someone dies?

Double taxation? What about the estate tax, or inheritance tax as some call it?

That money was taxed when earned, yet somehow the government thinks they should get more when someone dies?

Did we not pay that tax based on our income? Were we not FORCED to pay that tax with the promise of SS? and I may be wrong but we pay 6.2 percent of our income into SS and we have already paid taxes on our total income.

I thought that too, until I realized the estate tax is taxed because the person inheriting it did not pay tax on it.
While I disagree with it, especially the amount at which it is taxed, I kind of can understand the reasoning.

Dude really? You really going to pay those taxes in full? The POS in the WH doesn’t pay any? Our government is so disfunctional it shuts down and holds the entire country hostage costing $6 billion dollars to middle class tax payers. If I owed taxes in retirement I’d go on the payment plan and tell them I can only afford a dollar or two a week.

Dude really? You really going to pay those taxes in full? The POS in the WH doesn’t pay any? Our government is so disfunctional it shuts down and holds the entire country hostage costing $6 billion dollars to middle class tax payers. If I owed taxes in retirement I’d go on the payment plan and tell them I can only afford a dollar or two a week.