Trump's tax cut didn't trickle down
Comments
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Did you even read the article? Or just the headline?RaceBannon said:Hondo appears to be lying again
https://marketwatch.com/story/cbo-forecasts-largest-ever-monthly-surplus-as-record-tax-receipts-pour-in-2018-05-08
The expected April surplus, meanwhile, isn’t keeping the U.S. from running a wider budget deficit for the fiscal year to date. For the first seven months of the budget year, the shortfall totals $382 billion, or $37 billion more than the same period a year ago, CBO estimates. The CBO recently estimated the full-year deficit would be $804 billion, and that trillion-dollar deficits would return in 2020. -
You also forget the largest increases for Odummycare and other wonderful gifts the the Obunghole regime came after he left office. So those are Trumps expenditures? Nope that's all you for voting to destroy your country. Now pony up those huge burger flipping profits! Time for the "I voted stupid" tax to take effect.2001400ex said:
Did you even read the article? Or just the headline?RaceBannon said:Hondo appears to be lying again
https://marketwatch.com/story/cbo-forecasts-largest-ever-monthly-surplus-as-record-tax-receipts-pour-in-2018-05-08
The expected April surplus, meanwhile, isn’t keeping the U.S. from running a wider budget deficit for the fiscal year to date. For the first seven months of the budget year, the shortfall totals $382 billion, or $37 billion more than the same period a year ago, CBO estimates. The CBO recently estimated the full-year deficit would be $804 billion, and that trillion-dollar deficits would return in 2020. -
So we have increasing receipts now in reality so you want to talk projections
Got it
Sounds like the tax cuts are working. You should reconsider running on raising taxes this fall -
Trump has full control. Anything past 6 months is on him. Dumbfuck. Quit pointing the finger at Obama.Sledog said:
You also forget the largest increases for Odummycare and other wonderful gifts the the Obunghole regime came after he left office. So those are Trumps expenditures? Nope that's all you for voting to destroy your country. Now pony up those huge burger flipping profits! Time for the "I voted stupid" tax to take effect.2001400ex said:
Did you even read the article? Or just the headline?RaceBannon said:Hondo appears to be lying again
https://marketwatch.com/story/cbo-forecasts-largest-ever-monthly-surplus-as-record-tax-receipts-pour-in-2018-05-08
The expected April surplus, meanwhile, isn’t keeping the U.S. from running a wider budget deficit for the fiscal year to date. For the first seven months of the budget year, the shortfall totals $382 billion, or $37 billion more than the same period a year ago, CBO estimates. The CBO recently estimated the full-year deficit would be $804 billion, and that trillion-dollar deficits would return in 2020. -
Hondo Meltdown. Sad!
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So then why did they put the cost increases off all those years Hondo? Oh yeah just to blame it on the next guy. It was the previous guy. All Obunghole all the time.2001400ex said:
Trump has full control. Anything past 6 months is on him. Dumbfuck. Quit pointing the finger at Obama.Sledog said:
You also forget the largest increases for Odummycare and other wonderful gifts the the Obunghole regime came after he left office. So those are Trumps expenditures? Nope that's all you for voting to destroy your country. Now pony up those huge burger flipping profits! Time for the "I voted stupid" tax to take effect.2001400ex said:
Did you even read the article? Or just the headline?RaceBannon said:Hondo appears to be lying again
https://marketwatch.com/story/cbo-forecasts-largest-ever-monthly-surplus-as-record-tax-receipts-pour-in-2018-05-08
The expected April surplus, meanwhile, isn’t keeping the U.S. from running a wider budget deficit for the fiscal year to date. For the first seven months of the budget year, the shortfall totals $382 billion, or $37 billion more than the same period a year ago, CBO estimates. The CBO recently estimated the full-year deficit would be $804 billion, and that trillion-dollar deficits would return in 2020. -
Lol that's a meltdown?CuntWaffle said:Hondo Meltdown. Sad!
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I’ll give Hondo a mea culpa as he was right about the personal exemption. I used an online 2018 tax calculator and input my 2017 figures; I’d have paid an additional $1000.00 in taxes (I had a bunch of itemized deductions last year that wouldn’t deduct this year). I also input my 2016 info for comparison (I had a lot less deductions), and would have paid $150.00 less. So the answer isn’t concrete. If you have a bad year, deduction-wise, the new tax system isn’t your friend. If you have an average amount of deductions you’re better off. This is assuming I input everything correctly.2001400ex said:
You save in the standard deduction but also lose the $4,100 each for personal exemption. So your taxable income is higher. With a lower rate.USMChawk said:
The standard deduction, until this year, was $12,000.00. I work from home, have a daughter in college, a daughter w/a disability, my wife is an independent contractor, have mortgage interest, excessive medical bills (almost every year), and a few other things. To maximize my return means I have to complete the 1040, a number of Schedules, etc.. All that effort and I typically get to $15-16k in deductions. I provide the paperwork to my accountant and he completes all the necessary paperwork. I know it’s done right and I don’t have to do the work. Now that the standard deduction is $24k I don’t have to do all that; I’ll take the standard deduction and not itemize.2001400ex said:
Wait a minute. You said you don't have to pay an accountant anymore..... But yet you still do. Which is it? I'll wait until I can prepare my taxes on a postcard.USMChawk said:
The company we bought was extremely mismanaged and verging on bankruptcy. The combined staff will be less than what was, but more than what was going to be.2001400ex said:
And usually an acquisition, there are less jobs in the combined company.... Not exactly a job builder, eh?USMChawk said:The doubling of the standard deduction is enough that I don’t have to pay an accountant $350.00 to itemize my taxes, as that deduction is now higher than my usual itemized amount. My tax savings should be another $200.00-$300.00 because of the lower adjusted gross income. My company didn’t pay the employees $1000.00, like some companies, but they did use the savings to acquire another business. That’s where the trickle down occurs for me. They've authorized unlimited overtime while the merger and staffing is completed. I look to pull an additional $20k this year, and should average $10k/year in overtime, going forward.
And you shouldn't need a CPA to itemize your deductions. For reals. They are very straight forward.
Without getting into personal details, my tax situation is complex. I could do it myself or I could save the 6-8 hours of aggravation and pay someone else to do it. I choose the latter.
That being said, the thing I hate about politicians and uneducated people like you that don't understand taxes. Itemized deductions are trivial. All that stuff is easy to do. What isn't easy, and what keeps my colleagues busy, is the determination of income. Of which was not touched in the tax reform. And some of it was actually was made harder because of things like what DaBoner said.
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Fixed it you FHMUSMChawk said:
I think Hondo is a fag2001400ex said:
You save in the standard deduction but also lose the $4,100 each for personal exemption. So your taxable income is higher. With a lower rate.USMChawk said:
The standard deduction, until this year, was $12,000.00. I work from home, have a daughter in college, a daughter w/a disability, my wife is an independent contractor, have mortgage interest, excessive medical bills (almost every year), and a few other things. To maximize my return means I have to complete the 1040, a number of Schedules, etc.. All that effort and I typically get to $15-16k in deductions. I provide the paperwork to my accountant and he completes all the necessary paperwork. I know it’s done right and I don’t have to do the work. Now that the standard deduction is $24k I don’t have to do all that; I’ll take the standard deduction and not itemize.2001400ex said:
Wait a minute. You said you don't have to pay an accountant anymore..... But yet you still do. Which is it? I'll wait until I can prepare my taxes on a postcard.USMChawk said:
The company we bought was extremely mismanaged and verging on bankruptcy. The combined staff will be less than what was, but more than what was going to be.2001400ex said:
And usually an acquisition, there are less jobs in the combined company.... Not exactly a job builder, eh?USMChawk said:The doubling of the standard deduction is enough that I don’t have to pay an accountant $350.00 to itemize my taxes, as that deduction is now higher than my usual itemized amount. My tax savings should be another $200.00-$300.00 because of the lower adjusted gross income. My company didn’t pay the employees $1000.00, like some companies, but they did use the savings to acquire another business. That’s where the trickle down occurs for me. They've authorized unlimited overtime while the merger and staffing is completed. I look to pull an additional $20k this year, and should average $10k/year in overtime, going forward.
And you shouldn't need a CPA to itemize your deductions. For reals. They are very straight forward.
Without getting into personal details, my tax situation is complex. I could do it myself or I could save the 6-8 hours of aggravation and pay someone else to do it. I choose the latter.
That being said, the thing I hate about politicians and uneducated people like you that don't understand taxes. Itemized deductions are trivial. All that stuff is easy to do. What isn't easy, and what keeps my colleagues busy, is the determination of income. Of which was not touched in the tax reform. And some of it was actually was made harder because of things like what DaBoner said. -
It was hard to write but if I expect others to own up, when they’re proven wrong, I’ve got to do the same.Pitchfork51 said:
Fixed it you FHMUSMChawk said:
I think Hondo is a fag2001400ex said:
You save in the standard deduction but also lose the $4,100 each for personal exemption. So your taxable income is higher. With a lower rate.USMChawk said:
The standard deduction, until this year, was $12,000.00. I work from home, have a daughter in college, a daughter w/a disability, my wife is an independent contractor, have mortgage interest, excessive medical bills (almost every year), and a few other things. To maximize my return means I have to complete the 1040, a number of Schedules, etc.. All that effort and I typically get to $15-16k in deductions. I provide the paperwork to my accountant and he completes all the necessary paperwork. I know it’s done right and I don’t have to do the work. Now that the standard deduction is $24k I don’t have to do all that; I’ll take the standard deduction and not itemize.2001400ex said:
Wait a minute. You said you don't have to pay an accountant anymore..... But yet you still do. Which is it? I'll wait until I can prepare my taxes on a postcard.USMChawk said:
The company we bought was extremely mismanaged and verging on bankruptcy. The combined staff will be less than what was, but more than what was going to be.2001400ex said:
And usually an acquisition, there are less jobs in the combined company.... Not exactly a job builder, eh?USMChawk said:The doubling of the standard deduction is enough that I don’t have to pay an accountant $350.00 to itemize my taxes, as that deduction is now higher than my usual itemized amount. My tax savings should be another $200.00-$300.00 because of the lower adjusted gross income. My company didn’t pay the employees $1000.00, like some companies, but they did use the savings to acquire another business. That’s where the trickle down occurs for me. They've authorized unlimited overtime while the merger and staffing is completed. I look to pull an additional $20k this year, and should average $10k/year in overtime, going forward.
And you shouldn't need a CPA to itemize your deductions. For reals. They are very straight forward.
Without getting into personal details, my tax situation is complex. I could do it myself or I could save the 6-8 hours of aggravation and pay someone else to do it. I choose the latter.
That being said, the thing I hate about politicians and uneducated people like you that don't understand taxes. Itemized deductions are trivial. All that stuff is easy to do. What isn't easy, and what keeps my colleagues busy, is the determination of income. Of which was not touched in the tax reform. And some of it was actually was made harder because of things like what DaBoner said.
