Trump Regrets - Many Trump Supporters Are Angry About Their Tax Refunds

Ah, there is nothing quite like the feeling of satisfaction one gets when watching the rubes finally coming to the realization that they have been duped.  It seems many of them have finally discovered who is paying for the Trump tax cuts by simply looking into the mirror. 

This guy above must be the dumbest chump ever.  He acknowledges Trump and the Republicans screwed him, but then advocates for another Republican plan that will screw him even more. Honestly, it doesn't get much dumber than this.  "Hey, I am a still a little sore from last time, but can I please have another one? Make this one hurt even more."

I could go on and on because there is literally an endless supply of these, but I think the point has been made. 

Mark Mark Mark, of course some people are paying more but 95% are paying less, and it drives me crazy when people say I am now paying in, after 10 years of not paying in, guess what if you pay in 50% of your wage you will get back more than the guy who pays in 10% of the same wage, it is simple math.

Example: Joe makes $100,000 he paid in $50000 in federal tax and received a $20000 refund

              Mark makes $100,000 but the dumb ass paid in $10,000 and now has to pay in $20,000 after he files

Both have the exact same deductions and both pay the exact same amount to the IRS!

I forgot to add  Joe, the year before paid in the same and got back $15000, while Mark paid in $35000 and got back nothing Joe is happy this year, but Mark is mad even  though he made $5000 more!

My own Brother was told by his accountant he would get back a lot more because of the Standard deduction going way up, but I told my brother your accountant didnt figure in that there will no longer be a personal exemption, so pay in the same amount!!!!! and you will get back more just not as much as he told you.

Molly, I think your numbers are off.  The top 5% got a big break. (In fact, one-third of the benefit went to the top 1% alone) Overall, the middle class is paying for the portion of the cost of the tax cuts that were not put on the nation's credit card through the elimination or reduction of middle-class tax breaks. Yes, everybody is unique. A middle-class person with a small 1-3 person family, who doesn't itemize deductions, has no student loan interest to deduct and that resides in a moocher red state in an inexpensive home or rents is probably paying a little less in taxes. Unicorns aside, Federal tax refunds are down 8.4% compared to last year. 

The con was Trump and the Republicans told the middle class they were giving them a tax cut when they simply changed the withholding tables to withhold less out of each person's paycheck leading them to believe they were getting a cut. Before the tax cut passed he said, "The rich will not be gaining at all with this plan. We are looking for the middle class and we are looking for jobs." Then after the tax cut passed, he ran to Mar-a-Lago and told all of his buddies, "You all just got a lot richer."

Now poor Bubbas everywhere are realizing they are footing the bill so the rich could get a lot richer as Trump put it.  

It will probably go down as one of the greatest swindles in American History. 

A friend who does taxes said families with several children are having sticker shock due to loss of the personal exemption for each child (plus for mom and dad).

For us, the loss of deductions for unreimbursed business expense is a big one.  We knew it was coming, but some expenses are unavoidable.  

Candy,

Surely, you take great comfort in the fact that your sacrifice is going to help the neediest American Billionaires?  They would thank you for your sacrifice, but they are too busy laughing about how they duped Trump supporters into making their windfall possible. 

$2000 vs. $1000 child tax credit to make up for personal child exemption.

The Morning Jokesters have relocated their set to Florida in order to avoid the Ct. income taxes, even as they advocate higher taxes. 

Do as I say, not as I do. 

Mark, you are such a jerk.  You have no idea who I am, my political ideation, anything.  In fact, you have no ideas period.   Just rants to get people stirred up.

I made a couple of statements relevant to the comments of people distressed about tax returns being lower this year.  Relevant, not judgmental.   Guess what?  Taxes aren't the same as the tax return.  If someone wants to loan the government thousands of dollars interest free through the year just to get a refund check, that's their business.  Kind of like a piggy bank.  No interest, but there for safe keeping.  Or, they could consult someone who knew about the new code and figure out how to plan for the likely outcome, ahead of time.  This time they floated along, then got a big, unhappy surprise.   

I truly wish Trump had implemented what he campaigned on  - a simpler, fairer tax code where the wealthiest citizens would (finally) be asked to pay their fair share.    But that was a con - just like when he told everyone his favorite book was the Bible.

Those mythical "tax brackets" that Larry Kudlow likes to pretend rich people pay are a joke.   They only apply to working stiffs like you and me.    The elite class that controls 70% of the country's wealth get their own secret bracket which allows them to pay much less in taxes on every dollar they earn.   That was not addressed in the 2019 tax overhaul.    A truly, simpler and fairer tax code would require all income from any source get applied to the same brackets as paycheck income.   America got conned.....again....by the same people that did it in 2001.    

There's a reason why the president and Mitt Romney are very reluctant to show you their tax returns.    Their effective tax rate is a whole lot smaller than yours.