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

Another day another regret.

Beth Callori of Long Island, New York, said she was thrilled to receive about $90 more in each paycheck last year. Thanks to the new lower federal income tax rates, Callori’s employer, a financial services firm, was withholding less from her paycheck for federal tax purposes. 

“I thought, ‘Wow, Trump is great, I love him,’” Callori said. 

But last week Callori heard from her tax preparer that she owes the federal government more than $5,000 ― almost five times as much as she had to pay in previous years. 

“I almost fell out of my chair. I could not believe it,” she said. “I voted for Trump. I thought he was going to be good for this country, but when I got that phone call, that’s it, I’m done.”

I never get tired of these. 

Callori’s tax bill went up for two reasons. One is that the law directly disadvantaged her by limiting deductions for state and local taxes, which increased the amount of Callori’s income subject to tax and added an extra grand to her bill. 

The bigger reason is that her employer withheld too little from her paycheck. The extra $90 she received should have been added to the amount that gets automatically socked away to cover the federal income tax. 

Now, here is the thing. Conservatives are making the argument that people like this should have adjusted their withholdings but that is not how Trump and the Republicans sold their tax cut for the rich. They told people they were getting a middle-class tax cut and that is why their payroll withholdings went down. Rather than give this lady an extra $90 a pay period they should have told her she needs to make sure an extra $84 a month is taken out of her paycheck to cover her Trump tax increase. 

It is called personal responsibility. If one notices their paycheck is different, check with payroll

No, it is not. She noticed her paycheck had changed as did most of these Trump supporters that are complaining. However, she was told by the President and Republican members of Congress that her paycheck was changing because she was getting a tax cut.  Don't forget Republicans campaigned on how they increased workers paycheck through a tax cut, not a withholdings gimmick. Instead of intentionally lying Republicans should have been honest and said look about half of the middle-class taxpayers are going to be hit with a tax increase to fund our tax cuts for the neediest American billionaires like Donald Trump, Ivanka Trump, Eric Trump, Donald Trump Jr, Bill Gates, Jeff Bezos and other "poor" billionaires. That way people could have decided if they were for it or against it. 

Mark give us percentages, so far, you have given us 1 in a millions. Also you are happy when people pay in more, typical Democrat, you would love for the USA to go under as long as Trump gets the blame.

Ok, . . . here's the deal:  IT IS A TAX CUT.

Even the dullest LVA Contributor can do a quick estimate of his/her approximate savings per year at the Tax Foundation's  Tax Calculator .

Poor old DonDiego just did a really quick estimate and learned his tax savings will pretty much agree with the projection estimated at the  Preliminary Details and Analysis of the Tax Cuts and Job Act .   

A concise discussion of the tax cut and its effects can be found at the Tax Foundation's article: The Impact of the Tax Cuts and Jobs Act by Congressional District .

It is indeed a tax cut.   And its so huge  you need a calculator from the group who lobbied for the law to see its impact on your bottom line.    Game changer!

But multi-billion dollar corporations dont need that calculator.  Some are paying ZERO.   And the rest have bought back over a trillion dollars worth of stock instead of capital spending and US employment.

Its deja-2002 all over again...with the same, doubled-down impact on the deficit.

OOPS - mark & PJ's rants were a little premature - AGAIN

The average taxOpens a New Window. refund, which had been lagging so far this tax season, is now in line with last year’s levels, according to data released Thursday by the Internal Revenue Service (IRSOpens a New Window.).

DonDiego suggests the interested reader consider the source for Mark's post of 11:32am 18 February. Unfortunately Mark's editing of his source (perhaps HuffPost) cut off the happy ending for many other taxpayers. :

"Callori’s tax bill went up for two reasons. One is that the law directly disadvantaged her by limiting deductions for state and local taxes, which increased the amount of Callori’s income subject to tax and added an extra grand to her bill.

The bigger reason is that her employer withheld too little from her paycheck. The extra $90 she received should have been added to the amount that gets automatically socked away to cover the federal income tax. Like most people, however, Callori did not fill out a worksheet and submit a new Form W-4 to her employer at the beginning of last year."

. . . and this conclusion:

"The vast majority of Americans got lower taxes from the new law, while only 5 percent or so should have seen a tax increase. Most people should have seen the changes in their paychecks last February."

(boldface added - DD)

DonDiego, among others, endeavors to provide his relevant source(s) in his posts to LVA.

Beware of the expectation that "average" anything will equate with individual results.