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Official Trump Presidency Thread, Part 3

Old 02-19-19, 07:41 AM
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Re: Official Trump Presidency Thread, Part 3

My 401K was down 10% in the last quarter of 2018, finished the year at down 1%. Am I the only one?
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Old 02-19-19, 07:48 AM
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Re: Official Trump Presidency Thread, Part 3

Nope....not the only one.

But why does that matter? Trump says it so it must be correct.
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Old 02-19-19, 07:52 AM
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Re: Official Trump Presidency Thread, Part 3

First pass of our taxes had us going from about a 7k refund to owing federal $600ish. I didn't file because I'm really hoping I did something incorrect. Gonna give it another go tonight from scratch.
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Old 02-19-19, 08:01 AM
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Re: Official Trump Presidency Thread, Part 3

Originally Posted by Noonan View Post
First pass of our taxes had us going from about a 7k refund to owing federal $600ish. I didn't file because I'm really hoping I did something incorrect. Gonna give it another go tonight from scratch.

That’s insane. Sure you didn’t go up a tax bracket? If you earned about the same and already paid about the same federal tax, no way it should change that much.
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Old 02-19-19, 08:04 AM
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Re: Official Trump Presidency Thread, Part 3

Originally Posted by cungar View Post
Thatís insane. Sure you didnít go up a tax bracket? If you earned about the same and already paid about the same federal tax, no way it should change that much.
I don't think so, unless we were right on the edge last year and I didn't notice. Income is basically the same as last year. We don't have many deductions either; mortgage interest, student load interest, a bit of charity donations...that's about it.
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Old 02-19-19, 08:15 AM
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Re: Official Trump Presidency Thread, Part 3

Student loan interest phases out after so many years, I believe, or at least that's what our tax guy said. Not sure how many years you have claimed it. There were a lot of changes to charity donation limits, too, from what I understand to the point it doesn't hold the same value.
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Old 02-19-19, 08:25 AM
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Re: Official Trump Presidency Thread, Part 3

Originally Posted by buldrhm View Post
My 401K was down 10% in the last quarter of 2018, finished the year at down 1%. Am I the only one?
i wish mine was down only 1% last year...
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Old 02-19-19, 08:38 AM
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Re: Official Trump Presidency Thread, Part 3

Originally Posted by cungar View Post
Thatís insane. Sure you didnít go up a tax bracket?
That's not how tax brackets work.

If you earned about the same and already paid about the same federal tax, no way it should change that much.
The rules on deductions were completely overhauled, to the detriment of most middle class filers. Basically, a lot of stuff that used to not count as taxable income now does count as taxable income. In addition, they messed with the withholding tables for 2018, so you got less taken out of your paycheck each pay period along the way.
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Old 02-19-19, 08:41 AM
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Re: Official Trump Presidency Thread, Part 3

Originally Posted by cungar View Post



That’s insane. Sure you didn’t go up a tax bracket? If you earned about the same and already paid about the same federal tax, no way it should change that much.
Admittedly, I don't know squat about US taxes, but if they're similar to Canadian taxes, regarding brackets, they don't work the way you're suggesting.

Going 'up' a bracket doesn't make sense unless he earned substantially more last year. I.e. enough more that he'd pay an additional $7k in tax.

It's not like you earn slightly more, and it pushes you over some threshold, and you suddenly pay way more tax.

*edit* What JasonF said.
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Old 02-19-19, 09:17 AM
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Re: Official Trump Presidency Thread, Part 3

The problem with the tax break for people getting paychecks is that they gave you more money in each paycheck, but that decreased your refund. They probably should have skewed it towards the refund vs. a little more money each paycheck.
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Old 02-19-19, 09:42 AM
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Re: Official Trump Presidency Thread, Part 3

Looks like the judge didn't accept Roger's phony apology

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Old 02-19-19, 09:49 AM
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Re: Official Trump Presidency Thread, Part 3

Stupid Obama judges.
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Old 02-19-19, 09:50 AM
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Re: Official Trump Presidency Thread, Part 3

Originally Posted by VinVega View Post
The problem with the tax break for people getting paychecks is that they gave you more money in each paycheck, but that decreased your refund. They probably should have skewed it towards the refund vs. a little more money each paycheck.
That would make fiscal sense. But this was all about political optics. A few dollars more each paycheck allowed the Republicans to "show" that the middle class benefited from the tax cuts.

They figured that it would help them in the mid-terms and by the time tax returns needed to be filed, people would forget. Given the low intelligence of the average citizen, I don't blame them.

As soon as the withholdings changed last year, I knew (from the differences, as well as the change in deductions) it was going to be a wide swing and had to adjust accordingly. Without adjusting, it would've been a few $1000 swing (between refund and owing) but managed to keep it near the same as the previous year.
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Old 02-19-19, 09:55 AM
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Re: Official Trump Presidency Thread, Part 3

Originally Posted by sracer View Post
That would make fiscal sense. But this was all about political optics. A few dollars more each paycheck allowed the Republicans to "show" that the middle class benefited from the tax cuts.

They figured that it would help them in the mid-terms and by the time tax returns needed to be filed, people would forget. Given the low intelligence of the average citizen, I don't blame them.

As soon as the withholdings changed last year, I knew (from the differences, as well as the change in deductions) it was going to be a wide swing and had to adjust accordingly. Without adjusting, it would've been a few $1000 swing (between refund and owing) but managed to keep it near the same as the previous year.
My wife and I owe every year, so I just expect this year we will wind up owing a lot more. We have money saved up for this, so we're ready. I mean it's nice to get a tax refund, but it's your money, why not use it instead of the government making interest on it and then giving some back to you? That's just the way we like to do it.
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Old 02-19-19, 09:55 AM
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Re: Official Trump Presidency Thread, Part 3

Originally Posted by emanon View Post
Stupid Obama judges.
Just shows you the arrogance of Trump's henchmen. Stone saw what Manafort's arrogance got him. Probably life in prison. So let's fuck with the judge by putting a disparaging post about her online with cross hairs for good measure. All I can say is



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Old 02-19-19, 09:57 AM
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Re: Official Trump Presidency Thread, Part 3

Originally Posted by VinVega View Post
My wife and I owe every year, so I just expect this year we will wind up owing a lot more. We have money saved up for this, so we're ready. I mean it's nice to get a tax refund, but it's your money, why not use it instead of the government making interest on it and then giving some back to you? That's just the way we like to do it.
Yeah we do the same thing. You'd be surprised how many people think a refund is Manna from heaven.
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Old 02-19-19, 10:12 AM
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Re: Official Trump Presidency Thread, Part 3

My wife is a contract worker and every time she switches jobs I have to argue this point with her. She always wants to do max withholding at a higher rate than necessary. No point in loaning the government money. The sweet spot is somewhere in the small refund to break-even to owe a small amount area.

This year, I'm not sure what to expect.



As for Roger Stone, he is like so many of the others that have been indicted. They've gotten away with shit their whole lives due to money and/or privilege. The worst thing that happened for them was for Trump to actually win and the spotlight to shine in their dark little corner of greed, corruption, and treasonous activities.
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Old 02-19-19, 10:13 AM
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Re: Official Trump Presidency Thread, Part 3

Originally Posted by cungar View Post
You'd be surprised how many people think a refund is Manna from heaven.
Not surprised at all, many people really count on those refunds and they are going to be in for a very rude awakening this year.
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Old 02-19-19, 10:37 AM
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Re: Official Trump Presidency Thread, Part 3

Originally Posted by Nefarious View Post
As for Roger Stone, he is like so many of the others that have been indicted. They've gotten away with shit their whole lives due to money and/or privilege. The worst thing that happened for them was for Trump to actually win and the spotlight to shine in their dark little corner of greed, corruption, and treasonous activities.
Yep and hopefully that light is about to shine brightly on the big guy. Because whatever white collar crimes they committed, you can pretty much bet Trump has committed tenfold.
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Old 02-19-19, 11:19 AM
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Re: Official Trump Presidency Thread, Part 3

OMG you remember that speech Pence just gave that got *crickets* as a response? The official white house transcript added (Applause).

To them and to all of you, itís my great honor to speak to you today, on behalf of a champion of freedom and a champion of a strong national defense, the 45th President of the United States of America, President Donald Trump. (Applause.)
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Old 02-19-19, 11:21 AM
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Re: Official Trump Presidency Thread, Part 3

I'm sure the *President will retweet a clip that's been modified to add an applause track to bolster his administration's version of events. Trump is one thirsty m.f.'er
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Old 02-19-19, 11:34 AM
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Re: Official Trump Presidency Thread, Part 3

Originally Posted by Nefarious View Post
I'm sure the *President will retweet a clip that's been modified to add an applause track to bolster his administration's version of events. Trump is one thirsty m.f.'er
"Why is Charlie Kane so enthusiastic about Pence's speech?"
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Old 02-19-19, 11:34 AM
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Re: Official Trump Presidency Thread, Part 3

I would rather have the extra money in my paychecks so I have my withholding set so I owe a small amount each year, generally around $150 to the feds and $80 or so to Kansas. This year I got a federal refund of $92. Kansas refund was $2. Pleasant surprise.
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Old 02-19-19, 11:35 AM
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Re: Official Trump Presidency Thread, Part 3

Originally Posted by whaaat View Post
"Why is Charlie Kane so enthusiastic about Pence's speech?"
Context!
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Old 02-19-19, 11:36 AM
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Re: Official Trump Presidency Thread, Part 3

Originally Posted by joeblow69 View Post
OMG you remember that speech Pence just gave that got *crickets* as a response? The official white house transcript added (Applause).
Thar made me laugh out loud.
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