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OILERMAN

The tax windfall that wasn't: A troubling new IRS report suggests many Americans may be giving money right back to the government

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21 minutes ago, abenjami said:

By the way, I can't believe those of you who actually still take the time to respond to simple jake.

Idk how many times we have to go over it. They love it. 

 

Cant get enough. 

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9 Nines   
8 hours ago, Legaltitan said:

Even if the math works out to where people saved more ultimately by having less taken out throughout the year, this has the potential to be a disaster. Folks aren't going to understand all the math of that. I'm not saying most people are stupid, but unfortunately most Americans don't take a long term holistic view of their finances. They live day to day, paycheck to paycheck. They aren't going to crunch the numbers to see how it all balanced out. Plus the money they didn't pay in taxes throughout the year will already have been spent. 

I assume a large majority of people will not understand it.   Many, maybe a majority, who do not understand nor pay attention to laws or how the government work, will probably think it was done because of the large budget shortfall. 

 

This is very ironic because republicans got a lot of the voting power by voters not understanding stuff and able to slip stuff over on them with sound bits and stuff.  Now they will get that ignorance back in return because sound bites will not explain this stuff away, when people in debt, do not have money to pay the tax bill and/or have to go without planned expenditures this Spring because of owing money to the IRS when most of them are expecting money back. 

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9 Nines   
19 hours ago, OILERMAN said:

https://www.nydailynews.com/opinion/ny-oped-the-tax-windfall-that-wasnt-20181101-story.html?fbclid=IwAR2t2jQtEb-8_oSb-1gPA-o8WokB6R_Ajz5Ncjgb_l1VAes4HIy9sDy6zt0

 

But millions of Americans looking forward to their tax refunds are about to be disappointed, even upset. They will not see their expected refunds when they file their returns in 2019. Even worse, many will be required to pay extra taxes. Why the change? The Republicans’ push to sell their tax law to the American public is the culprit.

 

 

I forgot about this.  I remember earlier in the year, when the tax law was freshly passed, financial people were warning about this, advising people to check their withholding because it might be understated this year. 

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1 minute ago, 9 Nines said:

Now they will get that ignorance back in return because sound bites will not explain this stuff away, when people in debt, do not have money to pay the tax bill and/or have to go without planned expenditures this Spring because of owing money to the IRS when most of them are expecting money back. 

This.

 

If you know anyone that lives paycheck to paycheck, you know that their expected tax refund is generally already spent/spoken for before the first of the year on Christmas stuff, or just yearly needs. Then they will get H&R Block to do their taxes as soon as possible in the new year and use the refund to pay off the credit card or loan they used to purchase stuff. I'm not criticizing or making fun of people for doing this. It's just become a tradition for the working poor and even the solid working middle class.  
 

Those folks won't give two shits about Roe v. Wade if this gets screwed up. Now come election time, who knows, but I'm telling you there are gonna be alot of really pissed off people if it shakes out this way.

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9 Nines   
6 minutes ago, Legaltitan said:

This.

 

If you know anyone that lives paycheck to paycheck, you know that their expected tax refund is generally already spent/spoken for before the first of the year on Christmas stuff, or just yearly needs. Then they will get H&R Block to do their taxes as soon as possible in the new year and use the refund to pay off the credit card or loan they used to purchase stuff. I'm not criticizing or making fun of people for doing this. It's just become a tradition for the working poor and even the solid working middle class.  
 

Those folks won't give two shits about Roe v. Wade if this gets screwed up. Now come election time, who knows, but I'm telling you there are gonna be alot of really pissed off people if it shakes out this way.

 

This might turn into a tax-withholding-GATE.  That article indicates the IRS, through its published guidance, lead companies to cut the default withholding tiers. 

 

Why did the IRS do that?   The White House and/or republican Congress probably influenced the IRS to do that so as to have people gung-hop for the tax bill during the election. 

 

It seems it would be worthy of an investigation to determine if this was planned for election abuse.  It might lead to something illegal and would be good for Democrat's branding either way as it would be able to official explain what the republicans did.  Plus it would keep an unpopular tax bill in the news, right when people were experiencing the bite of it. 

Edited by 9 Nines

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9 Nines   

Note: In my earlier comments I did not mean ignorance as an insult. I meant it clinically as in most people have no to little knowledge/awareness about even the general bullet points of most legislation. 

Edited by 9 Nines

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19 hours ago, IsntLifeFunny said:

We all understand you can’t read. It’s okay. 

He can't effectively reason either. Fox news is his main source of info when he isn't watching Alex Jones.

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WG53   
22 hours ago, abenjami said:

There should be pitchforks but there won't be once the Republicans remind the sheep how the most important ballot issue is continuing the fight to overturn Roe v. Wade!!!

Abortion and gay marriage are the stances that Republicans benefit the most from by single issue voters.

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ctm   
4 minutes ago, WG53 said:

Abortion and gay marriage are the stances that Republicans benefit the most from by single issue voters.

abortion and guns, imo

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