Removing Mr. Trump from office.....

by mikeflood 97 Replies latest social current

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  Hecce

  To DesirousOfChange

  The media is making a case that tax refunds are smaller this year.

  This not an accurate statement, the media is just reporting what is happening and people are feeling the "pinch" and are not happy.

  Once again the middle class has been sacrificed for the benefit of the low income people, the losses for the middle class has been passed as "free money" for the low earners. This segment of the population will always vote Democrat, so Trump and the Republicans have created a negative issue for 2020.
  
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  minimus

  Shirley , we know you hate the President. You show your ignorance every time you can’t even properly spell his name.

  And regarding the political machine in Washington, they only wanted to work with one of their own. Outsiders are not welcome. The only thing is they never encountered a guy like Trump before. He’s no Romney!
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  Hecce

  minimus

  He’s no Romney!

  He is more like Rommel!

  
  
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  minimus

  Trump would never take the cyanide pill
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  Hecce

  minimus

  Good one
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  ShirleyW

  Shirley , we know you hate the President. You show your ignorance every time you can’t even properly spell his name.

  Min- since you're such a lover of Drumpf, I'm surprised you didn't know that I'm using the spelling of his name from generations back when his great grandfather changed the spelling of it and you have the nerve to say I'm showing ignorance when you don't know the history of current Lord and Savior, That's sad Min, very sad
  
  
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  DesirousOfChange

  The media is making a case that tax refunds are smaller this year.
  This not an accurate statement, the media is just reporting what is happening and people are feeling the "pinch" and are not happy.
  Once again the middle class has been sacrificed for the benefit of the low income people, the losses for the middle class has been passed as "free money" for the low earners. This segment of the population will always vote Democrat, so Trump and the Republicans have created a negative issue for 2020.

  A smaller refund does not in anyway indicate you paid more in taxes. Any refund just means you had more taxes withheld from your paychecks than you actually owe in taxes at the end of the year. A refund means you have given the Fed Gov't an interest-free loan for the past year.
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  Hecce

  DesirousOfChange

  What you are saying is the easy answer to the situation, when you dig deeper you will discover that the ceiling in the itemized deductions versus the doubling of the personal exemptions, is giving the low income earners an advantage against the middle class; at the end of the day is producers- vs non producers+.
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  DesirousOfChange

  Heece -- I don't know about what you're saying in the above post. It sounds like you have some professional experience in the biz so I'll ask you to clarify.........
  

  First of all: What is "low income" or "middle class". I THINK I'm "middle class". My gross income (my wife is retired) is in 6-figures. Isn't that Middle Class?
  

  Last year my effective tax rate was 12.6%

  This year my effective tax rate was 12.8%.

  Higher, yes, but my gross income was up over 50% and my taxable income up more than 100%.

  Up until this year I've always been able to itemize. With the new tax plan I was better taking the standard deduction. I understand that's happened to a lot of taxpayers this year. I like the idea that that I'm not subsidizing those with big deductions in high income tax States and those who pay tons of interest on their mortgages. If my income had stayed the same, I think I'd have paid a lower tax rate.

  As far as "low income" families, 44.4% of Americans already pay ZERO income tax. How can they be paying LESS tax under the new system? (That's about 2% more than paid zero income taxes last year.)
  
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  Hecce

  Desirous

  It is a game, here is some information about how the low income families will benefit from this; not that they will pay more but the credits that they will get are considerable higher due to the better standard exemption:

  https://www.eitcoutreach.org/blog/how-much-are-the-eitc-and-ctc-worth-in-2019/