Almost everyone will pay lower taxes, be ready for that

[Cicada]

Repubs adjusted the bill so the rich get cake, we get crumbs, but almost all will pay lower taxes. After tax income will go up one or two percent or more for more than 80%.

The problem is the rich get almost all the cake, govt will be starved so things which help the middle class and below will be cut back.

But be ready for many to see higher take home pay, unaware they are net losers.

[RKP5637]

1. It's a well planned ruse to take in the ill-informed. n/t

[pangaia]

2. That's it exactly.

A smokescreen... And those who do not see it.. will never see it.

If they finally do, it will be too late..

[Cicada]

3. Yeah, candy for the children, but its poisoned

[defacto7]

19. This.

Just to give an impression in the short run. It will never make up for the losses that I'm sure I need not recount.

[RKP5637]

23. And they will believe them forever, the psychological primacy principal ... first in information

into ones mind is often the last to go.

"The serial position effect is a psychological phenomenon associated with memory that says that items at the beginning (primacy) and items at the end (recency) of a list or string of information are more easily recalled than items in the middle."

[C_U_L8R]

4. And healthcare is starved off

Trump is only good at one thing... bankruptcy

[RKP5637]

7. ... and chaos too IMO. n/t

[The Velveteen Ocelot]

5. Except that many people's health insurance premiums will go through the roof.

This will more than wipe out their tiny tax cuts.

[Cicada]

8. Yes. It is wrapped like candy but its poisoned.

[uncle ray]

11. "Obama's fault."nt.

[ecstatic]

38. Nope. Trump said that Obamacare is repealed.

The skyrocketing rates are Trumpcare.

[NanceGreggs]

6. It won't hit home ...

... until voters file their taxes in April 2019, and realize that their usual tax deductions have been lessened, or obliterated completely.

The GOP know full well that the truth about these alleged "tax cuts" won't be fully known until after the midterms next November. But the full impact will be known by the 2020 presidential election - and that will be the election of reckoning.

[Awsi Dooger]

17. No, we are in far better shape for 2018 than 2020

Subjective adjustments are popular but historically illogical. Incumbent presidents are pounded in the opening midterm but receive extreme benefit of a doubt toward re-election, if the party has been in power only one term.

There are always reasons it will be different this time...but it very seldom plays out that way. Big picture foundational factors dominate day to day trivia.

We need Trump to remain at this type of approval rating to have a good opportunity in 2020.

[es466]

9. I have to say

that I have never been more thankful for DU and the posters on here..... telling it like it is. Hanging out on this site on a daily basis since 2009 has been a real education for me. Thanks to all of you!

[RKP5637]

24. Same here, it really helps to keep ones head above water. There is always lots of good information

and great posts. It would be very very lonely without DU.

[smirkymonkey]

26. You should post more!

We would love to hear your input. I have been hear for about 10 years and have gone through years where I was very shy and didn't post much, but we all have something to say and you never know when your words might inspire someone!

[Kirk Lover]

10. Keep pushing how we are getting a few crumbs to shut us up whilst the ultra wealthy

loot the store and the keys were handed to them by the Republiscums.

[lunasun]

12. 2018 tax filing is after elections . Any tax surprises for busy worker bees will be after voting

If they vote...

[spooky3]

15. withholding rates will change early in 2018--though when the allegedly lower tax is spread out

over all their paychecks, they may not see much of a change.

[Cicada]

20. Take home pay will go up in February, five weeks from now

[CreekDog]

31. This is false, it will NOT go up for everyone

the loss of personal exemptions and well as deductions are going to get in the way of that

[Gabi Hayes]

34. What are all the people making 25K going to do with all the cake theyll be getting back?

50 cents a week!

[Cicada]

35. Good point

[Lee-Lee]

41. No, take home will still go up

Just come April 2019 your going to get harder if your someone with enough deductions to be more than the new standard deduction.

But the withholding tables will change and they will change automatically for everyone.

[uponit7771]

49. +1

[Horizens]

13. 2026

But beginning 2026 the middle class tax cut expires and their taxes will increasingly rise year after year. How do we get that message out?

[AJT]

28. It's too far away. People care about now. The only

thing that may drive things home will be possible inflation that may happen in the next few years, or if they cut social security and medicare.

[Demsrule86]

14. The lower taxes will be offset by the huge rise in premiums...and not just ACA either...it will

bleed into employer insurance as well.

[Cicada]

37. And dumbo Trump today said: we killed Obamacare so we know who to blame

We need to drive home that the Susan Collins knife in the back provision killing the individual mandate was predicted to spike premiums, that other Obamacare sabotage by Trump was predicted in advance to hike premiums, and that they did hike premiums.

[Demsrule86]

45. Stupidity and arrogance...He is as dumb as a rock.

[dubyadiprecession]

16. Make America Great Again For The Wealthy

This will be trump's legacy.

[Freethinker65]

18. And housing values in blue states will decrease and

One possible infrastructure plan being floated is to have states raise state taxes to compete for partially matching Federal funds.

And of course there is entitlement reform to help reduce the deficit (which will suddenly matter again) and other programs like education, housing, consumer protection, medical research, arts and humanities funding, food and occupational safety, environmental permitting and cleanups, that will also have to be cut.

But enjoy your tax cut.

Me? I would rather not have the cuts and the government can keep their 1% cut (approximately all I will see).

[Cicada]

21. Those selling will be hurt, housing industry will be hurt a little

[oasis]

22. And much fewer goverment services, federal and state. nt

[W_HAMILTON]

25. 1% to 2% isn't enough for people to notice.

Democrats cut the payroll tax by 2% back in 2010 and most people claimed afterwards that they didn't even realize their taxes had been cut.

[Cicada]

40. Good point

[AJT]

27. I've been writing the samr thing.

[mchill]

29. Am I the only one not getting a tax cut?

Well, that's not technically true, I get 54 cents a month. I did the whole shabang using the new rules with 2015 numbers.

I live in California, single, on a smallish pension, have a mortgage. I itemize close to the $12k, making the loss of the Personal Exemption of $4050 more noticeable, despite the lower tax rates.

[marybourg]

32. No. I won't get a tax cut either, but at least I'm

going to keep my $50,000+ medical expense deduction, thereby losing not only the regular exemption but also the new replacement exemption for the elderly that was tacked on to the standard deduction, but which which I will have no access to. But hey! I get to help out billionaires and multimillionaires. What could be more heartwarming?

[mchill]

48. I know what you mean

The year I had cancer my schedule A was $23,000. If I had lost that medical deduction, well, let's just say, more piling on in a year one doesn't need piling on.

On the senior (added) standard deduction of $1550:

So if my itemized deductions added up to $13,000, I would take the higher of $12k and $13k first, but I can't add the $1550 to my $13k? Maybe I would add $550 to the $13k?

In other words, as a single senior, our test is if our own itemized deductions exceed ($12k + $1550) then we take the higher of the two as our Standard Deduction?

[marybourg]

54. The senior additional deduction is

$1550 for 1 person? If so, then yes. If your itemized is right on the border, then you have to add the senior deduction to the standard and see which way you're better off. My medical expenses are so high (spouse's assisted living) that I' m nowhere near the border, therefore I haven't checked the amount for the senior deduction; I know I'm not getting it,

[mchill]

56. Thank you

[Lithos]

30. it will become very apparent in the next few months

When Medicare and SS are axed to pay for it.

Even so, without those hits, it will still be apparent with the hits to the Real Estate market, Medical Insurance (CHIP, ACA) and the costs and manner how independent contractors have to now do business.

[Skittles]

33. repukes will be crawling to Democrats with the "fixes" needed for this disaster

fuck them

[lagomorph777]

36. Woohoo +1% from tax cut; -20% from Obamacare,Medicare,Social Security...

Can anybody do 'rithmetic anymore?

[ecstatic]

39. and don't forget that companies like Scumcast &ATT are pretending to be giving out

bonuses to all their employees. Making it harder for dems to undo this fiasco without fallout at the polls.

[Lee-Lee]

42. Yeah that news was plastered all over and makes it hard lee for us

[kwalter66]

55. bonuses

I might add that are taxed at a much higher rate than regular income.

[Eliot Rosewater]

59. Yes and no, bonuses are not treated differently but when you get a large sum it

goes that more is taken out or at the same time it might put you in a higher bracket.

But a bonus is not taxed at a different rate.

[hexola]

43. I think the word of the day is DISENFRANCHISEMENT

Remember the old saying "No Taxation Without Representation"?

But - it's also true - "No Representation without Taxation"

Once they don't owe you anything - they'll just lock you up.

[GreenEyedLefty]

44. There is a cohort of voters that are too far gone to reach.

But the rest are not fooled. We stand to benefit from this scam but I will work to flip Congress in 2018.

[DemocratSinceBirth]

46. Huh, What...

President Obama also pushed through a tax cut for most Americans, but in a February 2010 poll, only 12 percent of respondents said they’d gotten a tax cut, versus 53 percent who said there had been no change and roughly a quarter who said their taxes had risen.

https://www.theatlantic.com/politics/archive/2017/12/why-dont-63-percent-of-americans-realize-theyre-getting-a-tax-cut-for-christmas/548852/

[alarimer]

47. Temporarily.

In a few years, most of that goes away.

[onenote]

50. A few years is farther out than most people think

[uponit7771]

58. +1, it should be labeled the Trumps Permanent Middle Class Tax Increase

[Lithos]

51. Pay less in taxes, pay more for insurance

I personally expect for the first few years what I "save" in taxes will be more than consumed in other expenses. Also, I also expect I will need to add to my retirement funds to cover the additional hits to SS Insurance and future medical bills once I retire.

L-

[grumpyduck]

52. Okay, so let's do something: let's ask a question

I just received my usual "update" email from Sen. Dianne Feinstein, going on about how she blasted the tax bill. So I had an idea: I'm going to look up the Congressional Record (which is a great cure for insomnia and thankfully not addictive) and find out how vocal she was ON THE FLOOR during debates. Then I'm going to call her office and ask the same question (how active was she during debates) and see if the answers match.

I would suggest other people do this with their own Democratic lawmakers and then publish a list showing how much they really did to try to stop this. Or maybe someone who is really into web searches (and has time on their hands) can write a program to go through the Congressional Record over the past year and compile a list. The results might be fascinating.

Hey, elections are coming right up...

[flamingdem]

53. Feet to the fire, we need them not being moderate from here to 2020

WAR

[marybourg]

57. Repeal and Replace!