Average tax refund down 8% so far this season - CNNPolitics
https://www.cnn.com/2019/02/09/politics/tax-code-early-returns-data/index.html
https://www.cnn.com/2019/02/09/politics/tax-code-early-returns-data/index.html
Average tax refund down 8%
- Thread starter tjebarr
- Start date
My refund went from $148.00 to getting $3,128.00. We're taking advantage of the doubling of the personal exemption. We no longer have much in write offs now that we no longer have a mortgage, so I'm guessing the new tax laws better assist those that don't have much to write off. Personally, I prefer to break even, and typically do, but wasn't quite sure how to make that adjustment this year.
Because you PAID LESS in overall taxes in 2018...
and KEPT MORE of the MONEY YOU EARNED in 2018!
cnn & msnpc sitting in a tree...
making up **** to woo their brain dead followers...
The size of refunds has nothing to do with the amount of taxes paid.
Average working person paid less taxes out of their paychecks every month to the tune of $1200 for the year.
and KEPT MORE of the MONEY YOU EARNED in 2018!
cnn & msnpc sitting in a tree...
making up **** to woo their brain dead followers...
The size of refunds has nothing to do with the amount of taxes paid.
Average working person paid less taxes out of their paychecks every month to the tune of $1200 for the year.
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Really need to simply look at how much total tax is paid, not the difference between with holding and the amount of tax owed.
A "refund" simply means more was withheld from your earnings than you owed and kept essentially in escrow by Uncle Sam for the year with zero interest paid to you. The fact returns are being filed with less "refunds" means two things:
- more Americans are keeping more of what they've earned. (their money)
- Americans are still taxed too high
Smaller refunds? That's a good thing called a tax cut or "crumbs" as Nancy Pelosi and all the Dems who voted against them called it. Funny how everyone who is complaining now about the smaller returns on their "crumbs" kept all they were allowed to this past year and no one sent in anything "extra" or is telling Uncle Sam to just keep the "crumbs" they are still due back are they?
You are totally uninformed or totally ignorant of what a tax "refund" is.
“Some workers saw a bump in their take-home pay after employers started using the new IRS income tax withholding tables.”
@WVUCOOPER
Want to take this one, again?
Is he blaming Trump for smaller refunds when Trump's the one who cut the taxes most folks would owe anyway?
Is he that dense?
Is he blaming Trump for smaller refunds when Trump's the one who cut the taxes most folks would owe anyway?
Is he that dense?
This whole story is aiming at the same ignorant audience that didn’t care enough to figure out that the ACA was going to increase everyones insurance costs to pay for incudding birth control pills in every plan and subsidize 20 million low income earners.
The headlines are scamming the unread and those too uninterested to figure out how their taxes actually work. Our citizens are getting lazy and the press knows it.
Yes, most saw more money in their paychecks starting Feb 2018 due to a change in the IRS tax tables and this led to a turbo boost to the economy in 2018 in the short term. IRS has admitted they screwed up those tables and this issue of withholding too little is going to lead to smaller refunds and in many cases, those used to get a refund will have to pay if they didn't adjust their withholding on a W-4. Fact: Most people (I'm not one) will be paying less if one calculates their Effective Tax Rate after filling out their 1040. Fact: Higher tax brackets will benefit a lot more than the lower tax brackets if one looks at the entire tax paying population. Fact: those with larger families and those living in high tax states have a higher chance of the tax legislation being a tax increase and not a tax cut.
What I distrust about every Dem tax plan is where do Dems draw the line on their definition of rich. There is so much redistribution they want to do and not enough “rich” taxable income to pay for all they want to give away.
Unfortunately, many people apparently follow the false equivalency that their refunds define their taxes.
A friend of mine proposed that once a year, people should get a single bill for ALL their taxes; income, property, sales, gas, Social Security, Medicare. That way, people would be aware of how much they really pay.
What % of all taxes does the bottom 50% pay vs what % does the top 50% pay. There are 50 times more lower wage earners who do not participate much in the future of the US.
Not speaking to you but rather the point you made.
You distrust based on whether it is a democratic or Republican plan. That is a preconceived, agenda based position and is not objective by it's very nature. So an honest conclusion is impossible.
We all have opinions on what is "fair" and I'm sure my opinion is different from point above. I don't intend to make this conversation into a debate on "fair" but rather what this tax situation is doing to the public and country.
The Trump Tax Plan Screwed Middle Class Parents (Like Me) | Fatherly
https://www.fatherly.com/love-money/trump-gop-tax-plan-middle-class-parents-refund/
Here’s Why Your Tax Refund Is Lower This Year
http://nymag.com/intelligencer/2019/02/heres-why-your-tax-refund-is-lower-this-year.html
Maybe you should be happy that you get to keep more of your check. Maybe you should save some and quit whining.
Moron going to moron. More people working, higher wages, lower taxes, that's a bad thing?
Let me see if I can do the math here. Some people commented that they saw a $20 bump in their take-home pay each paycheck. So, figuring 26 paychecks per year x $20 = $520 more take-home pay........and those that made that claim said they went from getting thousands back in refund to now having to pay in to the IRS, with no changes in deductions or withholdings........
So, guess we should praise Trump for that $520 and not blame anyone for the loss of thousands in refunds.......while the wealthy rake it in.......got it.
So, guess we should praise Trump for that $520 and not blame anyone for the loss of thousands in refunds.......while the wealthy rake it in.......got it.
I haven't seen anybody who said their check increased $40 per month. Wages have gone up, employment has gone up and we have a President who doesn't hate the country. We still have communist and socialist in the other party who hate it but at least, I can be proud of our President.
Why? If the upper 10 % pay over 70 % of the federal taxes, what's equitable about that? Too many have more of a vested interest in seeing how much they can get from the system, than whether the system, the govt, actually is for the better good of the populace. Socialism isn't good.
My effective tax rate on my gross income stayed the same, as I suspected, since my itemized deductions last year were about double the standard deduction. However, due to the change in withholding, which I wasn’t aware of because it was so small I didn’t notice, I went from owing about $300 last year to owing $2500 this year. F’UCK! F’UCK!
He's proud of being an American, that's what it should be about. not somebody who thinks we need to apologize.
Your mind is so jacked from political crap, you just can't think.
The government takes a lot of money to operate. That is a fact. Who has the most money? Rich people. Just think regardless what type of tax system one uses whether it is a progressive Income Tax, a Flat Income Tax or your beloved consumer tax, guess who will pay the most in taxes? Answer: the rich.
Question is not your stupid "10% pay 70^% argument or the various variations. The question is what tax system will allow the economy to prosper the most while paying all the bills the country needs to pay and at the same time make it as equitable as possible for all citizens to possibly build wealth.
This is why people call your line of thinking as stupid. Need to quit it. Or not but don't think for a second your line of thinking is "smart".
There are 100 million more people than rich people. They need to pay their fair share. That's where the real money is. They've bought them off with promises of refunds for more than they ever pay. No, the reason it is stupid is because stupid people like yourself cannot see what socialism does to a country. People in power pander to them promising them pie in the sky that rich people have enough money to take care of all the welfare, defense, SS and whatever the govt funds. It's not possible and idiots like yourself foster this rich vs poor crap that has ruined this country.
Again, you simply have zero knowledge of what you are talking about.
You know why I don't talk about dentistry? Because other than being a consumer of the service, I have little knowledge. You should take the same approach with financial, economics and tax discussions. Or not and continue looking as you do.
Do you run your own business? I have for over 30 years. I have first hand experience with meeting a payroll and what's left is mine. I know enough to know what devious politicians do with people who haven't got much of a brain, most of our electorate. Promise them that the job they just loss wasn't due to the tax increase for health ins that Obama made everybody take.
Not at the present. But I have a history of advising those that want to operate their own business and I was qualified to have that business due to a lot of education on the subject. Don't even attempt to act like you can take right wing propaganda and think you have more knowledge than me on the subject. You don't.