As tax refunds shrink, Republicans scramble to defend Trump tax cut

GoblinCampFollower

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Any of you who've done your taxes already likely noticed this. I think this is it. This is the miscalculation that will seal his fate. Much of his base who doesn't give a shit about his cave man behavior and race bating will care about this. 2020 belongs to the democrats if they can resist the urge to do something incredibly stupid.

As tax refunds shrink, Republicans scramble to defend Trump tax cut
 

Katheryne Helendale

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The prevailing argument I've seen from Trump supporters on Twitter and Facebook is that the smaller refunds are offset by significantly reduced withholdings. I don't know how true that is, since I've been out of the workforce for over half a year, but that's what they're going with.
 
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GoblinCampFollower

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The prevailing argument I've seen from Trump supporters on Twitter and Facebook is that the smaller refunds are offset by significantly reduced withholdings. I don't know how true that is, since I've been out of the workforce for over half a year, but that's what they're going with.
It's true for higher income people, but not always true at the lower end.

More importantly, the refund is very VISIBLE and politics are all about visibility. Even voters who got a real tax cut are hit in the face with the fact that the tax cut isn't as good as they thought it was and feel deceived.
 

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Trumpists are not going to like paying higher taxes to enrich the wealthy but it is clear that that’s not nearly enough to shake their devotion. Jim Jones got his devotees to drink koolaid and die, even give it to their children, and they were not any more devoted than Trumpists. If Trump told them to jump off Trump tower they would form a line.
 

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The prevailing argument I've seen from Trump supporters on Twitter and Facebook is that the smaller refunds are offset by significantly reduced withholdings. I don't know how true that is...
As it happens, there is truth in that, up to a point,

The goal of the IRS has been to structure tax-withholding tables so that taxpayers have a small refund rather than owing tax at the end of the year. Trying to recover tax that people owe is a costly and difficult endeavor; it works to the advantage of the IRS if they don't have to play bill-collector. On the other hand, withholding too much for taxes reduces take-home pay (without any interest paid on that overage).

After the new tax bill was passed, it appears that the GOP operatives in the IRS re-jiggered the tax withholding tables to give the illusion of significantly more take-home pay. The feel-good glow got everyone over the mid-term elections. But now everyone is finding that the bump in their paycheck may have been too good to be true, not enough was withheld to cover the taxes due, and now they owe money.

The actual saving in terms of tax are modest at best. Most people don't even remember the actual taxes-owed number, they remember the refund. I'd fall in that camp myself. I don't really know if my taxes have gone up or down (I'll dig it up eventually to find out), but I DO remember what my tax refund was last year. There's a bit of a bump but so minor (a few hundred dollars) that I'm underwhelmed.
 
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The prevailing argument I've seen from Trump supporters on Twitter and Facebook is that the smaller refunds are offset by significantly reduced withholdings. I don't know how true that is, since I've been out of the workforce for over half a year, but that's what they're going with.
Trumpists can argue that all they want, but what most people will experience is that they hardly noticed the small change in withholding tax, but will notice and remember the large reduction in their income tax refund. One woman whose interview was included in a short Washington Post video on the topic talked about having counted on a substantial refund check to buy baby clothes, crib, baby furniture, etc. -- she said she's expecting her baby in a few months. Now, she has to appeal to family and friends for help with those expenses. What do you think she'll remember: the big disappointment that affected her life plans or the small monthly increase in her family's income?
 

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As it happens, there is truth in that, up to a point,

The goal of the IRS has been to structure tax-withholding tables so that taxpayers have a small refund rather than owing tax at the end of the year. Trying to recover tax that people owe is a costly and difficult endeavor; it works to the advantage of the IRS if they don't have to play bill-collector. On the other hand, withholding too much for taxes reduces take-home pay (without any interest paid on that overage).

After the new tax bill was passed, it appears that the GOP operatives in the IRS re-jiggered the tax withholding tables to give the illusion of significantly more take-home pay. The feel-good glow got everyone over the mid-term elections. But now everyone is finding that the bump in their paycheck may have been too good to be true, not enough was withheld to cover the taxes due, and now they owe money.

The actual saving in terms of tax are modest at best. Most people don't even remember the actual taxes-owed number, they remember the refund. I'd fall in that camp myself. I don't really know if my taxes have gone up or down (I'll dig it up eventually to find out), but I DO remember what my tax refund was last year. There's a bit of a bump but so minor (a few hundred dollars) that I'm underwhelmed.

Yeah, that...exactly that. I would also add that, for the middle class and lower, this was the best year. It is only going to go down from here, with an expiration date of 2024 (convenient, eh?), unlike the cuts for corporations and such.
 

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Apples to apples comparison of my taxes from last year to this (both without any tax withheld on my very modest income through the year): My taxes owed to the feds for the year went UP 20%.

So yeah they can take their much lauded 'tax cut' and ram it up their posterior and hopefully die of septic papercuts.
 

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The prevailing argument I've seen from Trump supporters on Twitter and Facebook is that the smaller refunds are offset by significantly reduced withholdings. I don't know how true that is, since I've been out of the workforce for over half a year, but that's what they're going with.
The withholding tables did change but whether that is all of it is neither here nor there. To most people it is the perception.
 
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Kara Spengler

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Trumpists are not going to like paying higher taxes to enrich the wealthy but it is clear that that’s not nearly enough to shake their devotion. Jim Jones got his devotees to drink koolaid and die, even give it to their children, and they were not any more devoted than Trumpists. If Trump told them to jump off Trump tower they would form a line.
But, but, this is their *money* ...... besides, they thought the hurt would be to other people.
 

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But, but, this is their *money* ...... besides, they thought the hurt would be to other people.
Oh but the farmers circling the drain due to tarrifs are for the most part still loyal. Of course their bailout buys a lot of votes.
 
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Katheryne Helendale

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Oh but the farmers circling the drain due to tarrifs are for the most part still loyal. Of course their bailout buys a lot of votes.
It's funny how the same people benefiting from those bailouts decried Obama for his bailouts, and also scream bloody murder about socialism.
 

Jopsy Pendragon

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It's funny how the same people benefiting from those bailouts decried Obama for his bailouts, and also scream bloody murder about socialism.
Derr.... it's only wealth-distribution/welfare/socialism when it benefits 'other people'.