#GOPTaxScam

Kara Spengler

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News about #goptaxscam on Twitter

As working class/middle class people begin to calculate their 2018 taxes, they're discovering the GOP tax breaks aren't for them.

Who could possibly have seen this coming, eh?
Well, all sorts of orgs had tax calculators out there even if people did not believe what people were saying about the different plans.
 

Beebo Brink

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So the sleight of hand that the GOP pulled -- and which may have backfired on them -- was the change to the tax withholding tables. The former goal of these tables is to insure that sufficient money is taken out of employee salaries to cover taxes. Ideally you owe 0, or get a small refund, because this is easier for the government than trying to police taxpayers who owe them money.

THIS year, however, the IRS apparently was directed to construct the tax-withholding tables to underwithhold, so people would see a larger paycheck and feel good about the GOP's tax plan. Until they had to pay what they owed all along.

For many people, they just FEEL like they're paying more in taxes when in truth their tax withholdings were poorly adjusted. But other people actually DO pay more taxes because they've lost so many of the deductions that are used by the middle-class. The new "tax breaks" aren't enough to balance out the loss of those deductible expenses.

The kicker is that this is the best year we'll see and it all goes downhill from here as those tax breaks get lower for us (but not for the corporations).
 
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Beebo Brink

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Well, all sorts of orgs had tax calculators out there even if people did not believe what people were saying about the different plans.
I tried to use those calculators and never made much sense out of them. If I have time, I'll try to run some rough figures through my tax program this weekend to see where I fall. I think I'll be okay because I don't normally use any of the deductions that were dropped and my property taxes are low. Fingers crossed I come out more or less the same as usual.
 

Ryanna Enfield

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This will be painful for people living paycheck to paycheck. The very definition of people who could not afford to save a bit from each paycheck in order to pay their taxes. This was all so that rich people and "Job Creators" (LOL) would have more money to invest and offshore. Trump and Co. are gonna be just fine. Fuck everyone else, they got theirs. The same people complaining about having to pay higher taxes and voting for Trump will conveniently forget about all this come voting time. They are all just potential billionaires down on their luck right now.
 

Kara Spengler

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I tried to use those calculators and never made much sense out of them. If I have time, I'll try to run some rough figures through my tax program this weekend to see where I fall. I think I'll be okay because I don't normally use any of the deductions that were dropped and my property taxes are low. Fingers crossed I come out more or less the same as usual.
There are multiple issues involved. Start with the fact that campaigns often do not give the details needed for a long time, if at all. Plus this assumes what they promise will be what they deliver. Even if orgs have all the data then they need to decide between being fast and being accurate.

Calculators are not quick to put out there either. It is not unusual for orgs to start planning things at a high level even before everyone has officially announced.
 

Beebo Brink

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I think I'll be okay because I don't normally use any of the deductions that were dropped and my property taxes are low. Fingers crossed I come out more or less the same as usual.
It's been difficult for me to figure out how much I've been affected by the GOP tax plan because my income changes every year. Salary goes up, health care costs go up, and my annual bonus fluctuates. I just don't have a steady baseline for comparison. After a quick input of numbers into my tax program, it looks like I'm getting a refund roughly equivalent to last year, which doesn't really tell me whether I paid fewer or more taxes.

Bottom line is that I'm not one of the tax payers hit with new sticker shock, but neither do I feel any substantial gain from the GOP plan. Down the line, more likely than not, I'll need some of the social services that were eroded by the resulting budget deficit. The true pain of this tax change is deferred but lurking around a corner. So it goes.