American taxpayers paid over $90 billion more under Trump tax law

Discussion in 'Politics and Religion' started by LoyaltyisaCurse, Jun 4, 2019.

  1. LoyaltyisaCurse

    LoyaltyisaCurse IF AND WHEN HEALTHY...

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    https://www.yahoo.com/finance/news/...ore-to-irs-under-trump-tax-law-194900782.html
     
  2. Russ Smith

    Russ Smith The Original Whizzinator Contributor

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  3. LoyaltyisaCurse

    LoyaltyisaCurse IF AND WHEN HEALTHY...

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    It feels like they are stating more tax revenue was generated from
    A greater number of people working. However that gain in tax revenue from individuals (with temporary tax breaks) was offset by (permanent) breaks provided to corporations. At the end of the day, despite tax breaks to individuals, the overall tax burden was still shifted to the average Joe instead.
     
  4. ajcardfan

    ajcardfan I see you. Contributor

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    Well, but according to Folster we all did great even if we paid this year but never did before. Besides, we can all sleep well knowing these corporations will roll their tax savings down into worker wages. :biglaugh:
     
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  5. Kel Varnsen

    Kel Varnsen Moderator Contributor

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  6. devilalum

    devilalum Heavily Redacted

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    Of course it’s confusing. The tax code is 20,000 pages long for exactly that reason. It’s impossible to explain in layman’s terms which makes it easy for the rich to get off paying very little and the rest of us to pay the bill.


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  7. devilalum

    devilalum Heavily Redacted

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    The class structure in America is a giant cluster of puppy making.


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    Last edited by a moderator: Jun 10, 2019
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  8. Cardsfanstl

    Cardsfanstl Registered

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    Saw this first hand during tax season. A lot of unhappy truckers. But Truckers were one of the most audited groups due to the per diem rules. They had to keep detailed records of mileage, days on the road and etc just to verify their deductions. Most did but others did not.
     
  9. puckhead

    puckhead Waxing Gibbous Contributor

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    Were any of those truckers women with children? I would hate to have an unhappy mother trucker in my office.

    (sometimes I can't help myself, I'll seek medical help)
     
  10. Cardsfanstl

    Cardsfanstl Registered

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    All men but their wives were not happy.
     
  11. UncleChris

    UncleChris Retirement Doesn't Suck Contributor

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  12. Russ Smith

    Russ Smith The Original Whizzinator Contributor

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    Per Yahoo, IBM paid zero dollars in taxes due to Trump tax law, and just announced they are laying off 1700 workers. Yep all those tax savings are really helping people.
     
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  13. offset

    offset i have a special purpose

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    I’m a 1099 tax filer with a ton of write-offs (I don’t even use all of them since I have so many, I just use enough to find the “sweet spot”) and I made about $200 more on my return than last year.
     
  14. AZCB34

    AZCB34 Registered User

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    How much did IBM pay in 2017?
     
  15. Brian in Mesa

    Brian in Mesa BIM™ Contributor

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    IBM cutting jobs is nothing new. Heck, only laying off 1,700 workers is an improvement for them.

    IBM layoffs continue

    https://www.marketwatch.com/story/ibm-layoffs-continue-2016-05-20-19103433
     

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