Is it ‘Tax Cut Week’ Already!

“Death and Taxes”

Tiger Beat on the Potomac (thanks Charlie!) tells us:


On Tax Day, Trump tax cuts remain deeply unpopular

“President Donald Trump boasted in Michigan last month that he signed into law “massive tax cuts, the biggest in the history of our country.”

“As Americans rush Monday to finish up their own taxes, their judgment on Trump’s beloved tax cut bill is pretty clear: Most really don’t like it.

“Multiple polls show a majority of Americans don’t think they got a tax cut at all — even though independent analyses show they did. And only around a third of the country approves of the legislation itself, the Tax Cuts and Jobs Act [Ed. – the “Billions for Billionaires Bill,” –TG], passed by Congress at the end of 2017…

“White House officials are clearly aware of their vulnerability on the issue and officials are dubbing this “Tax Cut Week…”


Because Infrastructure Week has been such a success?

 

This entry was posted in snark, Tax Cheat, Taxes. Bookmark the permalink.

11 Responses to Is it ‘Tax Cut Week’ Already!

  1. Dennis Cole says:

    And coming soon – “Slash and Burn, Rape and Pillage Week”…….after week, after week, until the Uber-wealthy have every last nickel in their filthy grasp.

    Liked by 1 person

  2. YellowDog says:

    For the first time in 30 years, I had to write a check to the feds. My state refund was on a par with the past several years, but the cap on the SALT hit us hard, as it was designed to do by Individual-1’s Fed nominee-to-be. This administration’s only coherent economic policy seems to be: “Crush your enemies, see them driven before you, and hear the lamentation of the women!”

    Liked by 3 people

    • tengrain says:

      All I can say is that my taxes went way, way, way up. My tax preparer last month called me twice to prepare me for the shock.

      Rgds,

      TG

      Like

      • YellowDog says:

        That was my experience, except I do our taxes with TT (yeah, I know). One advantage of this software is that you can produce a multi-year comparison table that breaks down your return in broad categories, to show where the money is going and changes over the years. It was evident that the SALT cap had a huge impact. The IRS-jiggered withholding had a much smaller impact. There has been nothing like this in my lifetime. I remember when credit card and car loan interest was deductible. The elimination of those deductions was nothing compared to this.

        Liked by 2 people

    • MDavis says:

      Sorry, I cannot reply to your other comment, so…

      I remember when credit card and car loan interest was deductible.

      And I remember when unemployment benefits were declared taxable income. I never understood why that doesn’t make vehicle tabs on government cars non-exempt pay your road taxes tabs. Same principle.

      Like

  3. Boris says:

    My Federal taxes went from ~$3,400 return to owing $412.

    My state taxes, however, went from a ~500 return to owing ~$800.

    WTF.

    Like

    • Because the state taxes almost all start with your federally adjusted income, which in previous years was lowered by deducting your state and local taxes; so you started your state return with a higher number than before. It was the double “Fuck You” sent by the GOP to everyone, as it turns out, not just the blue states.

      The R’s in the TSKoA Lege were freaking out over this and wanted to put off the filing date till June so they could rush out new laws to deal with this, because otherwise it looks like they raised taxes too.

      They were bemoaning this “windfall” that the state was going to get and how the evil Dims were going to seize this opportunity to do things like… properly fund the schools, and fix the roads. Maybe be even open some of the shuttered state parks and rest stops the R’s closed because ‘we can’t afford frivolous things like that’ after they slashed taxes.

      Liked by 2 people

  4. Scottie says:

    Hello TG. I really get tired of the tRump people just making claims that do not fit reality and using words that mean the opposite of what is happening to try to gaslight us. Hugs

    Liked by 1 person

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