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New Trump Tax code a SCAM?

Discussion in 'BBS Hangout' started by cebu, Feb 11, 2019.

  1. DieHard Rocket

    DieHard Rocket Contributing Member

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    I'll withhold final judgement till I file my taxes, but this seems to me people just being ignorant/not paying attention. I've been angry about having to pay more than expected in taxes before but mostly due to not paying close enough attention to withholding.

    Basically the reform eliminated many itemized deductions and drastically increased the standard deduction. Those that used to heavily itemize are the ones feeling it I'm sure, but if they were paying any attention when it was passed they would have known that.
     
    conquistador#11 and cebu like this.
  2. ipaman

    ipaman Contributing Member

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    It surprises you that people dumb enough to vote for Trump don't understand how withholding and total tax works?! Now that's surprising!
     
  3. K LoLo

    K LoLo Member

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    There are other people complaining about their smaller refund besides the folks that voted for Trump.

    I've seen the posts and complaints, but never did it come with "last year I paid X in total taxes and this year I paid Y." It only has to do with the refund.
     
  4. DaDakota

    DaDakota Contributing Member
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    Of course it is - people said that when it came into being, but the ignorant lemmings decided that hey, the one year they got a little more was worth it.

    DD
     
    Pizza_Da_Hut likes this.
  5. ima_drummer2k

    ima_drummer2k Contributing Member

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    This is awesome, never knew that.

    Anyway, I haven't filed yet, but I always try to adjust my withholding so that I don't get a refund at all. Who wants to loan the government money without getting paid interest? It's like purposely overpaying for a TV at Best Buy....and then getting excited when they send you a refund check 8 months later. Doesn't make sense.
     
    Roscoe Arbuckle, cebu and B-Bob like this.
  6. Xerobull

    Xerobull Contributing Member

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    The literal price of complacency. Be aware.
     
  7. Supermac34

    Supermac34 President, Von Wafer Fan Club

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    We just did our taxes. We had a significant savings over last year in what we paid. We always adjust our withholding accordingly, so we got about the same refund (not much), but our paychecks were much improved. I think for most people, they saved in total taxes paid, got more in their check, but it was withholding less, so they get less refund.

    For most people, they paid less taxes in 2018 than they did for 2017.
     
    #27 Supermac34, Feb 12, 2019
    Last edited: Feb 12, 2019
  8. asianballa23

    asianballa23 Member

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    haters gonna hate
     
  9. Roscoe Arbuckle

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    Yep. He's already written a concerto. Primary instrument is the French Horn, but also dabbles with the trumpet and acoustic guitar. His goal is to get a Masters at Rice's music program, but that is a lofty goal, as I believe we were told they only accept 7ish people each semester.

    He's also an exceptionally good drawing artist, which he did NOT get from me. My penmanship is barely legible.
     
    ima_drummer2k likes this.
  10. JuanValdez

    JuanValdez Contributing Member

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    I got a cut in my effective tax rate of about 300 basis points. I didn't really want it, but I'll spend the extra money on blow and hookers, which should help the economy.

    There is already a thread there if people want to argue.
     
    B-Bob and Severe Rockets Fan like this.
  11. mikus

    mikus Member

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    Did they also change the rules around AMT? This is the first time in awhile that I didn't have to pay AMT and it was a significant difference from last year
     
  12. Supermac34

    Supermac34 President, Von Wafer Fan Club

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    AMT still exists but it has been reformed to hit only the people it was intended to hit. Many people that fell into AMT over the years will not get hit by it anymore.
     
    mikus likes this.
  13. Blake

    Blake Contributing Member

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    My taxes went down.
     
  14. Commodore

    Commodore Contributing Member

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