/biz/ - Business & Finance

>>13219453
Why do Americans always cheer for tax cuts and complain that it's not big enough, but then never get upset when inflation devalued the money the do get to keep to a greater amount?

>>13219453

Holy shit I’m in the same situation. Not sure wtf happened. What’s your withholding?

>>13219491
i didn't cheer this tax cut. i saw it for what it was: upward redistribution of wealth. i'm just shocked that this is how the math worked out for me.

>>13219495
my withholding was much lower. my refund last year was almost 10k, this year it was less than 3.

also a fun fact from my individual return: i asked my preparer if this was a mistake but for some reason i lost an over 8k deduction this year (the exempt status deduction). i'm in the same job for the same employer so i have no clue how that happened.

>>13219620
> upward redistribution of wealth
You are an absolute moron

>>13219453
Mine is 31%. Thanks California. Also I own a home so property taxes too. Reeeeeee.

>>13219491
Same reason why frenchfags always despise the president they voted in after 6 months regardless of performance or party affiliation. It's a tradition.

>>13219643
17% south carolina. Don't complain about paying your fair share you dirty commie.

>>13219643
also california. was only talking about federal. total effective tax rate 26.3~

>>13219633
i don't know if you know how math works. if i make 200k and take home an additional 2k and my boss's boss's boss takes home 200m and gets an additional 20m, that's redistribution of wealth to the wealthy. plain and simple.

>>13219648
kek have a (You)

>>13219673
ok #9 https://wallethub.com/edu/states-most-least-dependent-on-the-federal-government/2700/

>>13219453
you worked four months to live in a first world country with working infrastructure, consider it rent
perhaps you want out of our club to live in a third world country?
you are free to go

>>13219677
> redistribution of wealth to the wealthy. plain and simple.
Giving some else less of something you have isn't redistribution to yourself. It takes a whole new kind of logic to make that leap.

spent last year freelancing so i owe the govt $2000. hurts... that's why withholding taxes work imagine if employers didn't have to withhold you'd have riots if wagecucks turned over their lump sum

>>13219697
>>13219673
Retarded bluepilled mutt goyim.

>>13219453
I owed 25k

tax defenders are the fucking worst. a flat tax of 15% across the board is more than enough to run this country, but instead our taxes are closer to double that.

anyway i tax myself at 25% and should come in closer to 15-20% on this tax year so i should get a little savings out of my tax account when it's all said and done.

I’ve saved millions in taxes by not earning enough to pay taxes.
Checkmate.

>>13219677
>i don't know if you know how math works. if i make 200k and take home an additional 2k and my boss's boss's boss takes home 200m and gets an additional 20m, that's redistribution of wealth to the wealthy. plain and simple.
the fuck am i reading. is this bait?

>>13219729
> a flat tax of 15% across the board is more than enough to run this country
Only if you gut pretty much everything (even the military, which is bad because it is the only thing defending democracy in the middle east and elsewhere.)

>>13219729
because poorfags always vote to "tax the rich more".

it's fucking retarded that the more you make the greater the percentage you have to pay.

>>13219738
Jesus fucking christ. You think the miliitary is doing anything good in middle east? America going in single handedly made things 10x worse than they were.

>>13219740
>it's fucking retarded that the more you make the greater the percentage you have to pay.
That is retarded. Luckily that isn't how the system works.

>>13219697
someone missed the point. i'm not leaving the country and neither are all the rich if we increase their taxes (and their dollars ain't repatriating with lower, let's talk about THAT bald-faced lie for a second).

>>13219706
well, now you're revealing your perspective. are you coming from the "all taxation is theft" perspective?

i'm thinking about this from two perspectives. one, the money ceases to be the taxpayer's after the taxes are paid. that money is the government's (read: all of ours). so the extra revenue that we all would have had, has been taken away from us and given to the wealthy if you compare 2017 taxes to 2018 taxes.

the second perspective i'm keeping in mind is that the wealthy wrote this tax code to benefit themselves. that's an action they took that actively takes money from the masses (think of this like a balance sheet from the perspective of the government) and puts it in their pockets.

>>13219749
Yes it is. What the fuck?
It's called tax brackets retard. If you are making $1 mill you pay 45% tax. If you are making $60k you pay like 15%.

>>13219692
Yea sc is based as fuck. Getting that high return. Most bang for the buck. You might not remember where the war of northern aggression actually started but you can read about it. These fuckers hate the feds

>>13219724
that doesn't tell us much if we don't know how much you made and how it compares to last year.

>>13219729
here here. regrettably, it'll never happen. too many jobs would go away with a simpler tax code and the rich would never give away their loopholes that make their effective tax rate lower than ours.

>>13219736
see
>>13219752
think about it from the perspective of the government's balance sheet.

>>13219738
the fuck? the middle east is so fucked because of our interventions. they do it by design. an unstable region is a deregulated region.

>>13219763
>calls someone a dirty commie
>is a proud leech

for people who have invested fuck all, like under a couple k, and haven't made any profit yet, taxes are a pain. it seems a bit much to report and obtain records on all your trades and do all the math to figure out what taxes you pay when you havent even made money. i dont get it. you could make hundreds of tiny trades across a dozen exchanges and easily lose track and make no money anyways. and pro accountants are having debates online about how crypto tax is paid, many of them don't even get it, what chance do low income petty chump change investors have to figure it out. probably the tax man doesnt care if you dont have anything anyways. one would hope they don't bother wasting time and money squeezing pennies out of poor people when there are actual tax scams and big money avoidance going on.

>>13219783
i'm talking about crypto of course not stocks or other investments which i know nothing about

>>13219783
>>13219789
it's not so bad. look up form 8949, i did it last year.

earned 80k, paid 8k. fuck taxes and fuck the government

>>13219453
Tax fags always assume they'd be so much better off without taxes, this is the tax fags crucial error in his assumptions

>>13219819
10% is a fair enough tax rate
more then 13% seems a bit much
over 20% would be insane