Current Events > I saw my taxes go up while trump was president. I make < $40k a year

(+) Yeah! (+)

Trump never gave a fuck about the working class and i pity anyone who was conned into voting for him.

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45 killed my old job with his trade war and then killed my old boss with his pandemic. Ive no more pity for cultists, just hatred.

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Cultist: "Fake news"

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Got screwed by the SALT thing?

I'll never forget my father staring at his trump tax returns in disbelief. He was a 2016 trump voter and voted for a dem for the first time in his life in 2020.

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jeez i haven't made that little since i was like 22

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Did your taxes actually go up, or did your refund decrease?

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Are you sure about that? Are you comparing your W2s or just your paystubs?
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Questionmarktarius posted...

Got screwed by the SALT thing?

I would imagine someone making < $40k is not itemizing. And if they are, I would hope they pay less than $10,000 in SALT.

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EndOfDiscOne posted...

I would imagine someone making < $40k is not itemizing.

What happened then? EIC get gutted?

Shadow Don posted...

I'll never forget my father staring at his trump tax returns in disbelief. He was a 2016 trump voter and voted for a dem for the first time in his life in 2020.

No no no, hes looking at it wrong. Your dad will get that sweet, sweet Republican cash from the trickle down. Not from the government. He needs to feel the trickle.

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Thank you for doing your civic duty, I salute you

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I make like $31k a year and my taxes went up.

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But trump loves you

/S

The amount of people that thought he cared about them was impressive and sad. If you weren't one of his rich wall St friends he didn't give a fuck

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Dreepapult posted...

The amount of people that thought he cared about them was impressive and sad. If you weren't one of his rich wall St friends he didn't give a fuck

He painted a clear enemy and said These people are to blame for your problems, and Im going to fight them for you!

It is easier for people to blame someone for their problems rather than look for ways to solve your problems. People bought in to it.

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EndOfDiscOne posted...

Did your taxes actually go up, or did your refund decrease?

My 2019 taxes were about 6.08% of my salary, 2020 is 6.23%. That's a 1% increase and I didn't move up in my tax bracket.

I'm not saying this broke the bank for me or anything, but I cast a lot of doubt on the people who think they've been keeping more of their wages since Trump took office.

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That's your income tax withholdings...

Also using that as your W-2 income for 2019, you saved about $660 in federal income taxes compared to the pre-TCJA tax rates.



Also for your income level your highest tax bracket rate fell by 3%.

https://i.insider.com/5a5e44bcf42149a3018b5183?width=1300&format=jpeg&auto=webp

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The topic has backfired...

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SK8T3R215 posted...

That's your income tax withholdings...

Also using that as your W-2 income for 2019, you saved about $660 in federal income taxes compared to the pre-TCJA tax rates.

I guess I don't understand then. I'm not seeing the $600 reflected in my returns or my bank statements.

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OK in 2018 my adjusted gross income was $34,081 and my taxable income was $22,081. I owed $2,459 total.

In 2019 those numbers were ,$36,885, $24,685, and $2,767 respectably.

and 2020 is $38,141, $25,741 and $2,890.

So I don't understand how this isn't an indication that I've paid more in taxes each year since 2018.

I don't have 2017 as a proper comparison because that was when I graduated and was hired as a teacher midway through the year.

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Tbf our current VP doesn't understand how tax liabilities and withholdings work either, and neither does most of our country

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ZMythos posted...

OK in 2018 my adjusted gross income was $34,081 and my taxable income was $22,081. I owed $2,459 total.

In 2019 those numbers were ,$36,885, $24,685, and $2,767 respectably.

and 2020 is $38,141, $25,741 and $2,890.

So I don't understand how this isn't an indication that I've paid more in taxes each year since 2018.

I don't have 2017 as a proper comparison because that was when I graduated and was hired as a teacher midway through the year.

Your income went up so your taxes went up. Each year, a smaller portion of your taxable income was in the 0% tax bracket.

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Also right now this isn't a "gotcha" or a bad faith argument despite the opening post. If I'm ignorant to how the process works then I'd actually like to be enlightened about it.

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EndOfDiscOne posted...

Your income went up so your taxes went up. Each year, a smaller portion of your taxable income was in the 0% tax bracket.

This I understand and it makes sense that it would be that case.


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ZMythos posted...

OK in 2018 my adjusted gross income was $34,081 and my taxable income was $22,081. I owed $2,459 total.

In 2019 those numbers were ,$36,885, $24,685, and $2,767 respectably.

and 2020 is $38,141, $25,741 and $2,890.

So I don't understand how this isn't an indication that I've paid more in taxes each year since 2018.

I don't have 2017 as a proper comparison because that was when I graduated and was hired as a teacher midway through the year.

I mean your income is increasing each year, and that is taxed in the 12% bracket, and each year you're looking at is post TCJA so you don't have a year to compare pre and post tax cuts.

Just taking those numbers to the pre-TCJA, you are paying less than you would have but you weren't working then so you don't have anything to compare that to since you have income since the TCJA only.

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ZMythos posted...

My 2019 taxes were about 6.08% of my salary, 2020 is 6.23%. That's a 1% increase and I didn't move up in my tax bracket.

I think you need to take math class again bro...
and you weren't even working before trump took office....?

pupeye posted...

I think you need to take math class again bro...
and you weren't even working before trump took office....?

I don't think any of my computations are incorrect, just my interpretations of them. so kindly fuck off.

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ZMythos posted...

That's a 1% increase

6.23
-6.08
.15

pupeye posted...

6.23
-6.08
.15

6.23 6.08 = 1.02

I'm sorry, 2% increase.

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lol

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