Current Events > Use this calculator to find out how the tax bill will affect your paycheck.

(+) Yeah! (+)

After playing around a bit, here are some findings. Some which disputes the claim all high income earners are benefiting.

I used the following criteria for all income brackets: Single, no itemization, no children.

0-20k: After tax income goes up 1.8%

20-40k: After tax income goes up 3.2%

40-75k: After tax income goes up 4.1%

75-125k: After tax income goes up 4.4%

125-225k: After tax income goes up 2.2%

225-500k: After tax income goes down 4.7%

500k+: After tax income goes down 12.9%

What are you going to do with your likely savings?

http://www.cnn.com/2017/12/13/politics/calculate-americans-taxes-senate-reform-bill/index.html
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what about in 10 years when the poorer people actually begin to lose money. why don't you talk about that

AlternativeFAQS posted...

what about in 10 years when the poorer people actually begin to lose money. why don't you talk about that

why cant the tax cuts be extended then
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I guess life's gonna get better for everybody under trump. We will all have money not only to live on, but to save for the next generation.
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Pretty sure this is strictly income from jobs and not counting investments and people who are shareholders of large corporations.
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Sweet, I keep 7% of my after tax income
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sktgamer_13dude posted...

Pretty sure this is strictly income from jobs and not counting investments and people who are shareholders of large corporations.

Well, it is in my topic title after all.

It's a fun little calculator that is applicable to most people in America. I am single, have no children, and fall into a category of income going up. I also have investments and I'm technically a shareholder (obviously not a major player LOL) --- so potential savings from selling off those investments as well will help. You don't have to be rich to play around in the stock market.
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FLUFFYGERM posted...

AlternativeFAQS posted...

what about in 10 years when the poorer people actually begin to lose money. why don't you talk about that

why cant the tax cuts be extended then

because that's not what they were designed for. they were designed to entice stupid poor people

They go down until 2026, then they go up (but not quite to the level of now)

FLUFFYGERM posted...

why cant the tax cuts be extended then

Because the GOP may not be in control when it comes around. Because it's a wildly unpopular bill as it stands right now. Because we as a country tend to like certain things that is paid for via taxes.

AlternativeFAQS posted...

what about in 10 years when the poorer people actually begin to lose money. why don't you talk about that

So, according to the calculator, for the 0-20k bracket, after saving over 1% for each of the 10 years, the calculator indicates they will pay 0.1% more for '26 and '27. Oh no!

Who knows what will happen between now and then? It absolutely can get extended. Everything has a plan and a budget. Do you think a bill will pass that says "This is how it will remain indefinitely!"
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Capn Circus posted...

sktgamer_13dude posted...

Pretty sure this is strictly income from jobs and not counting investments and people who are shareholders of large corporations.

Well, it is in my topic title after all.

It's a fun little calculator that is applicable to most people in America. I am single, have no children, and fall into a category of income going up. I also have investments and I'm technically a shareholder (obviously not a major player LOL) --- so potential savings from selling off those investments as well will help. You don't have to be rich to play around in the stock market.

I'm saying that most of the stuff above 100k isn't newsworthy. Rich people don't earn a ton of income from a paycheck. They earn their money through other shit, like shareholdings, investments, etc.

They might pay more here, but make a killing in savings for everything else. Which is why people don't like it because the right has a base that's not very intelligent.
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sktgamer_13dude posted...

Capn Circus posted...

sktgamer_13dude posted...

Pretty sure this is strictly income from jobs and not counting investments and people who are shareholders of large corporations.

Well, it is in my topic title after all.

It's a fun little calculator that is applicable to most people in America. I am single, have no children, and fall into a category of income going up. I also have investments and I'm technically a shareholder (obviously not a major player LOL) --- so potential savings from selling off those investments as well will help. You don't have to be rich to play around in the stock market.

I'm saying that most of the stuff above 100k isn't newsworthy. Rich people don't earn a ton of income from a paycheck. They earn their money through other shit, like shareholdings, investments, etc.

They might pay more here, but make a killing in savings for everything else. Which is why people don't like it because the right has a base that's not very intelligent.

Earning over 100k isn't exactly "rich"---especially if they too have loans to pay off much like many middle class Americans.

Do you have any data, calculator, or analysis that sheds light on "savings" or "investments"? I'd be interested to know because that is also another facet of my income.

I'm assuming you think they should pay huge taxes for selling off investments. And maybe me being below the "rich" range I should pay less for selling my investments? Or maybe I should pay the same percentage as them? How should that work in your eyes?

Furthermore, how is this even something you can complain about. Obama and Democrats gave me, and most people, zilch after EIGHT years in office except a health plan I have to get hit by a bus to use.

How is me saving hundreds, even thousands, under Trump's presidency a BAD thing?
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Lol, if the tax cuts get extended, they'll increase the deficit by even more than a trillion dollars.
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The silence is deafening. The child tax credit is also a huge deal. There will be people, "poor people", who already aren't owing taxes being given DOUBLE the amount of credit per child.

The downplay this tax bill is receiving by the liberal media is truly one of the biggest hoaxes. They are actually convincing people that this tax bill is bad for them. Amazing.
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Kavatar posted...

Lol, if the tax cuts get extended, they'll increase the deficit by even more than a trillion dollars.

Yep. Gotta love the party of "small government" and "fiscal responsibility"
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After tax income will increase by 2.3%

Woo
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