Popeman38 Posted January 13, 2018 Share Posted January 13, 2018 1 hour ago, NoCalMike said: My first pay check of 2018 I didn't really notice much of a change. Wasn't expecting much to begin with, I only was paying attention in case there was a significant enough bump that I'd have to change my withholding. Considering the government hasn’t provided the withholding tables to companies yet, you won’t. January taxes are being withheld at 2017 rates. Link to comment Share on other sites More sharing options...
NoCalMike Posted January 13, 2018 Share Posted January 13, 2018 4 minutes ago, Popeman38 said: Considering the government hasn’t provided the withholding tables to companies yet, you won’t. January taxes are being withheld at 2017 rates. Ahh ok. Oh by the way, I got your message. Haven't had a chance to sit down and type out a big response yet. Haha. Link to comment Share on other sites More sharing options...
LD0506 Posted January 13, 2018 Share Posted January 13, 2018 10 hours ago, Springfield said: So is everyone on ES enjoying their newfound wealth thanks to the Trump-o-rama greatest tax break in the history of tax breaks of 2018... yet? What are you spending all that extra money on? Me, I bought a can of Coca Cola. I'm saving up to get one'a them Norwegians I heer'd about 1 Link to comment Share on other sites More sharing options...
techboy Posted January 13, 2018 Share Posted January 13, 2018 (edited) 9 hours ago, LadySkinsFan said: If it's more than 1 or 0, think about changing your withholding. ****ed I say. I keep reading you typing something like this, and I keep thinking to myself that it doesn't make sense, because no mainstream outlet I've seen or read has been reporting that result, and it's illogical... Republicans are more than happy to cut taxes in a way that benefits corporations and the wealthy far more than the middle class, and they're more than happy to balloon the deficit, but it would be political suicide to actually RAISE taxes on the middle class immediately while doing those other things, and Paul Ryan and Mitch McConnell might be many things, but stupid isn't one of them. So I looked it up specifically. You're wrong. Please stop spreading false information, if for no other reason than it will backfire when the scared middle class potential Democratic voter realizes the calamity has not occurred. I'd also suggest getting some better sources, and as a side note, even if you WERE right, the underpayment penalty has so many provisions and waivers it's very unlikely most people would have to pay it, especially if they're just doing withholdings from a paycheck. It's designed to nail people that are intentionally underpaying, not mistakes. I actually underpaid once due to some weird circumstances and I ended up not even being close to the penalty. https://www.irs.gov/taxtopics/tc306 In any case, here's what politifact has to say on the issue: http://www.politifact.com/new-york/statements/2017/dec/22/kirsten-gillibrand/will-republican-tax-law-raise-middle-class-taxes/ A couple of excerpts: Quote "The good news for taxpayers is that every income group would pay less in taxes in 2019," according to a PolitiFact analysis. The analysis was based on data from the Joint Committee on Taxation, the nonpartisan group that analyzes tax bills for Congress, and the Urban Institute-Brookings Institution Tax Policy Center, an independent group that models the effects of tax legislation. Of course, they DO expire, so... Quote The tax benefit shifts after 2025 when most changes for individual filers expire, including the lower tax brackets and cap on state and local tax deductions. After the individual provisions expire, all filers who make $75,000 or less annually will see a tax increase. But of course, they'll blame Democrats if that provision isn't made permanent, and use the increased deficit to justify cutting spending if it is. So there's plenty to criticize, but let's please try to stick to reality, not the liberal version of Fox. Edited January 13, 2018 by techboy 1 Link to comment Share on other sites More sharing options...
LadySkinsFan Posted January 13, 2018 Author Share Posted January 13, 2018 Sorry, but not sorry when I see an ad on TV advising people to check their withholding and think about adjusting it to make sure that enough is withheld. I didn't make that up. People are foolish if they think that the $1.5 trillion deficit addition won't be made up on the backs of everyone for generations to come, except for the 1%ers. Link to comment Share on other sites More sharing options...
techboy Posted January 13, 2018 Share Posted January 13, 2018 3 minutes ago, LadySkinsFan said: Sorry, but not sorry when I see an ad on TV advising people to check their withholding and think about adjusting it to make sure that enough is withheld. I didn't make that up. I didn't say you made it up. I said you needed to get better sources. There are so many awful things happening these days, it's becomes easy to believe even the most outrageous of claims, which is why we all need to make the extra effort to check ourselves, especially things that support our worldview. If you don't want to do it because it's the right thing to do, be selfish. Stuff like this just gives more ammunition to the whataboutism. 10 minutes ago, LadySkinsFan said: People are foolish if they think that the $1.5 trillion deficit addition won't be made up on the backs of everyone for generations to come, except for the 1%ers. So focus on that. There's plenty to complain about without going beyond the facts. Link to comment Share on other sites More sharing options...
Springfield Posted January 13, 2018 Share Posted January 13, 2018 I’d be willing to bet that a majority of people on this board gets a break on their paycheck. The problem is that, for most, it’s chump change. Link to comment Share on other sites More sharing options...
Corcaigh Posted January 13, 2018 Share Posted January 13, 2018 3 hours ago, LD0506 said: I'm saving up to get one'a them Norwegians I heer'd about Not sure they are for sale. Try Slovenians. Link to comment Share on other sites More sharing options...
Popeman38 Posted January 13, 2018 Share Posted January 13, 2018 14 hours ago, NoCalMike said: Ahh ok. Oh by the way, I got your message. Haven't had a chance to sit down and type out a big response yet. Haha. Take your time. No rush. Link to comment Share on other sites More sharing options...
PleaseBlitz Posted January 16, 2018 Share Posted January 16, 2018 Music to investors’ ears: Banks will use tax cut to boost dividends https://www.americanbanker.com/news/music-to-investors-ears-banks-will-use-tax-cut-to-boost-dividends?utm_campaign=daily briefing-jan 16 2018&utm_medium=email&utm_source=newsletter&eid=c2ba3c6821205d2eff9f9cf728875f73&bxid=56cf5174e661f0eb368b46b2 Quote Executives of large banks told investors and analysts what they wanted to hear Friday when they said that much of the savings from the reduction in the corporate tax rate would be used to boost returns to shareholders. During conference calls held to discuss fourth-quarter and 2017 earnings, senior leaders at JPMorgan Chase, Wells Fargo and PNC Financial Services Group all said that returning capital to shareholders — through higher dividend payments, expanded stock buyback programs or both — would be a top priority in 2018. Link to comment Share on other sites More sharing options...
HOF44 Posted January 16, 2018 Share Posted January 16, 2018 1 minute ago, PleaseBlitz said: Music to investors’ ears: Banks will use tax cut to boost dividends https://www.americanbanker.com/news/music-to-investors-ears-banks-will-use-tax-cut-to-boost-dividends?utm_campaign=daily briefing-jan 16 2018&utm_medium=email&utm_source=newsletter&eid=c2ba3c6821205d2eff9f9cf728875f73&bxid=56cf5174e661f0eb368b46b2 Stop the clock!!! You mean it's not going to hire more employees or raise the pay of current ones???? I believe I have been misled!!! 2 Link to comment Share on other sites More sharing options...
PeterMP Posted January 18, 2018 Share Posted January 18, 2018 So I was reading about this Apple stuff today, and I'm a little confused. One source said they were bringing the money back because of a permenant tax on overseas holding and not a one time reduction of the tax on over seas holding as done in 2004. Reading around more, I found this from Reuters (which generally seems respectable). "Stemming from a Republican overhaul of international business taxes, the loophole involves the tax rates - 15.5 percent or 8 percent - that companies must pay on $2.6 trillion in profits they are holding abroad." https://www.reuters.com/article/us-usa-tax-repatriation/corporations-may-dodge-billions-in-u-s-taxes-through-new-loophole-experts-idUSKBN1F035Q From reading this, it seems like they've instituted a new 15.5 percent for cash profits and a 8 percent on non-cash profits for earning over seas permenantly (vs. 21 percent on profits in the US). Did they really encourage US companies to make more money over seas (and to have that money come as something other than cash) then in the US? Link to comment Share on other sites More sharing options...
twa Posted January 22, 2018 Share Posted January 22, 2018 (edited) Sweet California Democrats want businesses to give half their tax-cut savings to state http://www.sfgate.com/bayarea/article/California-democrats-want-businesses-to-give-half-12508742.php seems reasonable to me Edited January 22, 2018 by twa Link to comment Share on other sites More sharing options...
Springfield Posted February 2, 2018 Share Posted February 2, 2018 So, first paycheck of February today. The Great Negotiator saved me $60 this paycheck. Sound the alarm. I can buy some weed! 1 1 Link to comment Share on other sites More sharing options...
Larry Posted February 2, 2018 Share Posted February 2, 2018 10 minutes ago, Springfield said: So, first paycheck of February today. The Great Negotiator saved me $60 this paycheck. Sound the alarm. I can buy some weed! It's surprising to me that they would actually cut taxes that much, on ordinary people. (I'm assuming that you're "ordinary people", aren't you? You're not one of those evil rich non-people things, are you?) If Trump's tax cut actually gives the average American an extra $60, I assume every two weeks, then that's not peanuts. (Granted, if they did that, then it also has serious implications for the deficit, too. Good and bad sides.) I'm skeptical. Seems too good to be true. Makes me want to look for The Catch. Did they maybe fudge the withholding formula? Give everybody a bigger paycheck, but oh, by the way, you're going to get hit with a big tax bill at the end of the year. (But hey, that will be after the election. Gotcha!) 1 Link to comment Share on other sites More sharing options...
LadySkinsFan Posted February 2, 2018 Author Share Posted February 2, 2018 (edited) That's exactly what I have been posting, Larry. The big surprise will come next year when the election is over, a lot of those schmucks that voted for the bill will be either voluntarily retired or retired by their constituents, and the new tax forms/instruments are released to much gnashing of teeth by everyone except the wealthy and corporations. Edited February 2, 2018 by LadySkinsFan Link to comment Share on other sites More sharing options...
Springfield Posted February 2, 2018 Share Posted February 2, 2018 (edited) 32 minutes ago, Larry said: It's surprising to me that they would actually cut taxes that much, on ordinary people. (I'm assuming that you're "ordinary people", aren't you? You're not one of those evil rich non-people things, are you?) If Trump's tax cut actually gives the average American an extra $60, I assume every two weeks, then that's not peanuts. (Granted, if they did that, then it also has serious implications for the deficit, too. Good and bad sides.) I'm skeptical. Seems too good to be true. Makes me want to look for The Catch. Did they maybe fudge the withholding formula? Give everybody a bigger paycheck, but oh, by the way, you're going to get hit with a big tax bill at the end of the year. (But hey, that will be after the election. Gotcha!) It only seems like a drop in the bucket for me. I’d rather that $60 go towards national health care or public works or the military. Whats going to happen now is I’m going to adjust my spending habits and once the tax scam expires I’m going to be in the hole. As far as being a normal person, I’m fairly normal for Nova. Compared to the rest of the country, I’m probably way overpaid. Edited February 2, 2018 by Springfield Link to comment Share on other sites More sharing options...
Larry Posted February 2, 2018 Share Posted February 2, 2018 9 minutes ago, Springfield said: Whats going to happen now is I’m going to adjust my spending habits and once the tax scam expires I’m going to be in the hole. Yeah, but people adjusting their spending habits is one of the ways to stimulate the economy. (A good one, in fact.) It's one of those funny contradictions in life. Everybody agrees that it would be better (or more moral moght be a better phrase) if people were to save their money. But what actually stimulates the economy is if people run out and spend every dime they've got, the instant they get it. My objections to the GOP vastly increasing the deficit is somewhat reduced, if the reason they're increasing it is to hand out money to ordinary Americans. There's certainly worse things to do with the money. Link to comment Share on other sites More sharing options...
techboy Posted February 2, 2018 Share Posted February 2, 2018 49 minutes ago, Larry said: It's surprising to me that they would actually cut taxes that much, on ordinary people. They do phase out in 2027, but independent analysis does in fact show every group (as a whole) seeing benefits until then, http://www.politifact.com/truth-o-meter/article/2017/dec/19/who-wins-and-who-loses-tax-bill/ He lives in NOVA, so he's probably in the 60 to 80 range, which sees an average cut of $2070. There's no withholding shenanigans here. They're not that stupid. Their plan is to 1. Give the biggest cuts to the wealthy and corporations. 2. Wait until 2027, and if Democrats oppose making the other cuts permanent, accuse them of raising taxes despite the fact that they set it up this way themselves. No need for hysterical fearmongering about tax penalties. 1 Link to comment Share on other sites More sharing options...
Larry Posted February 2, 2018 Share Posted February 2, 2018 9 minutes ago, techboy said: They're not that stupid. I'm not sure what would make you think that. 10 minutes ago, techboy said: Their plan is to 1. Give the biggest cuts to the wealthy and corporations. 2. Wait until 2027, and if Democrats oppose making the other cuts permanent, accuse them of raising taxes despite the fact that they set it up this way themselves. Yeah, that part I fully knew about I just felt like there had to be more. Link to comment Share on other sites More sharing options...
Cooked Crack Posted February 3, 2018 Share Posted February 3, 2018 Checkmate, libruls. 1 Link to comment Share on other sites More sharing options...
Springfield Posted February 3, 2018 Share Posted February 3, 2018 That seems like something stupid to tout. $1.50? Pick someone better dummy. Link to comment Share on other sites More sharing options...
LadySkinsFan Posted February 3, 2018 Author Share Posted February 3, 2018 In the Twitter thread, it seems like other people are concerned about filing for 2018 taxes next year besides me. Link to comment Share on other sites More sharing options...
Cooked Crack Posted February 3, 2018 Share Posted February 3, 2018 (edited) 1 hour ago, Springfield said: That seems like something stupid to tout. $1.50? Pick someone better dummy. It's not dumb if you're looking forward to crumbs. Everybody is clowning Paul Ryan as they should. Edited February 3, 2018 by Cooked Crack 2 Link to comment Share on other sites More sharing options...
AJ* Posted February 3, 2018 Share Posted February 3, 2018 Paul Ryan must have been on drugs to post that. What the hell was he thinking? Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now