I think they were going for a vicars and tarts kind of idea almost. “Look at how funny it is if te white supremacist is being friends with the black dude.”
I think the #GOPTaxSCAMStories from middle class folks on twitter will be inordinately more impactful. Jmo
I have questions about some of those stories. I think some of those stories involve people who don't understand the tax system. And I only say that because stories about making x thousand less and paying x thousand more can only be true if they are leaving something out, like "I had a lot less deductions this year" or "I didn't have as much taken out of my check." I have no doubt the middle and lower classes were [uck fay]ed, but their taxes haven't changed enough to explain 5 figures worth. It's more of the skyrocketing debt where they are getting [uck fay]ed.
It is amazing the number of people that do not understanding withholding. For example, I hear complaints like "I am taxed more on bonuses" all the time without the person understanding that their employer is just withholding a different percentage on bonuses than their salary payments based on the assumption that bonuses will push them to a different bracket. Many truly believe bonuses are ultimately taxed more than salary payments.
A devious liberal would want to ensure massive tax returns to the middle class. A devious conservative would want to ensure minimal withholdings. I get the sense that the average American believes they should pay zero in income taxes. When is the last time someone put a budget neutral tax overhaul plan forward? Maybe income taxes should go.
All politics are personal. Folks notice personal impacts more than broader ones. I'm just starting to hear these stories. Makes sense because it's the 1st tax season the effects are felt. Are they all true? I have no idea. But they're interesting to me. As I understand, and I very well could be mistaken, the increase is due to the loss/lowering of deductions. If that is truly the case, the attempt to "own the libs" in higher tax states that haven't supported the president is blowing up in their faces. The regulations don't just effect folks in California or New York. They are wide reaching. It makes me think of a doctor claiming they cured a disease in a patient when the treatment actually killed the patient. At least the disease didn't kill them.
I've tried to explain to people for a year that if they taxes withheld from their paycheck to make sure they are covered or they may be in for a rude awakening. I've seen exactly one person's income tax increase, all things remaining the same. Now, high local tax blue states, yeah, they got the raw end of the deal on this. Only way people are owing a ton in most places is if other facts substantially changed. There's no other way around it.
I always take the standard deduction. Never had enough deductions to justify itemizing. Will I see a big difference?
All things equal as 17 - yes. Refund may not be as big since withholding tables were changed, but total tax should decrease.
I don’t quite understand your first paragraph in the context of your second. Are you saying there are issues with the withholding tables?
That makes sense given the new bill. But I was just confused with you saying people really need to make sure they are covered .... but you’ve only seen one case where someone owed more. Are the witholdings tighter on the margin they build in now or something?
I will pay less tax now than I did before, but my decision on community to live in is now costing me a lot more than it did two years ago.
