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Thread: The Tax Scam is Starting to Sink In

  1. #111
    Taking A Stand!!!

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    Default Re: The Tax Scam is Starting to Sink In

    Just heard it on KOAT channel 7 news. Tax returns down about 16 billion dollars due to tax changes. So ABF is really slow right now and the guys assumed it was due to no one getting returns. When I heard this number and think I have to agree with them.

  2. #112
    Retired !

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    Default Re: The Tax Scam is Starting to Sink In

    Did we get a tax break ? Or did the majority of people get the shaft ?
    The numbers are still filtering in but it seems that only 1 in 5 people feel their taxes went down.

    Trump Gave Most Americans a Tax Cut and They Didn’t Notice
    Republicans passed a sweeping tax cut for two-thirds of Americans in 2017, saying it would pay for itself and the American public would thank them.
    Now, as Americans finish filing to the IRS for the first time under the new system, the law has swelled the deficit and surveys show just one-fifth of taxpayers believe their taxes have gone down. That’s made it hard for President Donald Trump to leverage the tax cuts as an issue in 2020, when he’s up for reelection and his party will be seeking to retake the House of Representatives.
    Trump’s top economic adviser, Larry Kudlow, said last week that the tax cut package had largely already paid for itself, a statement that conflicts with government data.

    The U.S. budget shortfall grew by 17 percent to $779 billion in fiscal year 2018, which the Congressional Budget Office has said was partly a consequence of the tax law. Along with additional spending that’s been signed into law, the CBO projects the deficit will surpass $1 trillion by 2020.
    https://finance.yahoo.com/news/trump...080000137.html
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  3. #113
    Scab Hating Union Thug

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    Default Re: The Tax Scam is Starting to Sink In

    Workers barely benefited from Trump’s sweeping tax cut, investigation shows

    Big companies drove Donald Trump’s tax cut law but refused to commit to any specific wage hikes for workers, despite repeated White House promises it would help employees, an investigation shows.

    The 2017 Tax and Jobs Act – the Trump administration’s one major piece of enacted legislation – did deliver the biggest corporate tax cut in US history, but ultimately workers benefited almost not at all.

    This is one of the conclusions of a six-month investigation into the process that led to the tax cut by the Center for Public Integrity, a not-for-profit news agency based in Washington DC.

    The full findings, based on interviews with three dozen key players and independent tax experts, and analysis of hundreds of pages of government documents, are published today in an in-depth piece.
    https://www.theguardian.com/us-news/...orker-benefits
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  4. #114
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    Default Re: The Tax Scam is Starting to Sink In

    'Mistake' in Republican tax plan taxes 1.3 million scholarship students more than millionaires

    From Bernie Sanders to Elizabeth Warren to*Kirsten Gillibrand to …*lots of others, Democratic candidates in 2020 seem*to have plans to lower the cost of education and make it possible for more Americans to attend college without drowning under a mountain of debt. Democrats recognize that education is critical to obtaining a good job, and*that the cost of education in 2019 means that students are often saddled with loans that can not only erase the benefits of that education for years, but take those new college graduates out of the market for homes, or restrict their ability to move. In short, high costs for college not only means misery for graduates, it harms American companies at every level by depriving them both of workers and consumers.

    So, naturally, Donald Trump is making it worse.

    While Trump’s tax break for billionaires is just that—a plan that awards Trump himself tens of millions in tax breaks*and means that some of the largest, most profitable companies in the country pay no tax at all—it punishes working class and middle class students. As*The New York Timesreports, students attending college on scholarships or financial aid packages are being taxed at a rate*higher*than Trump pays on his eight-figure income, with rates going up to 37%. That means that some of the students who most needed the money the most, but who made it into college on academic or athletic scholarships, or those who assembled an aid package that let them barely climb over the cost hurdle …*are finding their mailboxes full with bills from the IRS. And, unlike Trump, they can’t get away with ignoring tax law.
    https://m.dailykos.com/stories/1858652
    Last edited by 222lifer; 4 Days Ago at 10:34 AM. Reason: added quotes
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  5. #115
    Taking A Stand!!!

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    Default Re: The Tax Scam is Starting to Sink In

    Quote Originally Posted by 222lifer View Post
    'Mistake' in Republican tax plan taxes 1.3 million scholarship students more than millionaires



    https://m.dailykos.com/stories/1858652


 

 
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