Quote:
Originally Posted by boof
& uh-oh get in here because I just read individual Americans paid 90billion dollars more in taxes under Trumps plan.
"More than halfway through 2018, after the law took effect, the Government Accountability Office (GAO) warned that more Americans would owe money to the IRS under the new law while those receiving refunds would decrease. In the end, many Americans saw modest increases in their paychecks throughout the year, but didn’t notice.
Instead, as people filed, many bemoaned getting smaller-than-anticipated refunds or even being hit with a “surprise” tax bill."
^this is exactly what I said would happen when the tax cut happened and everyone was pumped about a few extra crumbs on their check? literally those crumbs went directly back to the IRS for most people
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first paragraph from the article you didn't link
"
Despite the majority of Americans receiving a tax cut, the IRS pulled in an additional $93 billion for 2018 from taxpayers on individual income taxes than it did for 2017, according to new data from the IRS. This is in part thanks to
the Treasury Department processing 1.5% more individual returns for 2018 than 2017."
"At first, refunds on average were down a staggering 17%, before slowly creeping upward and
remaining relatively flat. "
people were taxed less, no one updated their withholdings and the people who expect to get thousands back for nonsense credits didn't receive money they didn't earn and are upset. but the majority of americans were taxed less on money they actually earned.
i don't see a problem here?