Trump voters getting tax shock and regretting their votes

[Anonymous]

“The average tax refund so far has shrunk to $2,640 from $3,169 at the same point last year, according to Internal Revenue Service data through Feb. 15 that were released late Friday. That’s a 16.7% drop.

The total number of returns that qualified for refunds was down 26.5% compared with last year and the amount of money refunded was off by 38.8%, the data showed. The IRS has processed 6.6% fewer returns compared with last year because of the partial federal government shutdown.”

https://www.latimes.com/business/la-fi-tax-refunds-decline-trump-irs-20190223-story.html?outputType=amp&__twitter_impression=true

[Anonymous]

Anonymous wrote:“The average tax refund so far has shrunk to $2,640 from $3,169 at the same point last year, according to Internal Revenue Service data through Feb. 15 that were released late Friday. That’s a 16.7% drop.

The total number of returns that qualified for refunds was down 26.5% compared with last year and the amount of money refunded was off by 38.8%, the data showed. The IRS has processed 6.6% fewer returns compared with last year because of the partial federal government shutdown.”

https://www.latimes.com/business/la-fi-tax-refunds-decline-trump-irs-20190223-story.html?outputType=amp&__twitter_impression=true

Excellent.

In the perfect world there should be zero refunds.

[Anonymous]

Loving my tax cut; thank you POTUS!

[Anonymous]

Our gross income went up 38% due to changes in spouse's situation, we're now just under $200k HHI. Nothing else changed, but our taxes went up 63% and we were hit for thousands more in taxes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:“The average tax refund so far has shrunk to $2,640 from $3,169 at the same point last year, according to Internal Revenue Service data through Feb. 15 that were released late Friday. That’s a 16.7% drop.

The total number of returns that qualified for refunds was down 26.5% compared with last year and the amount of money refunded was off by 38.8%, the data showed. The IRS has processed 6.6% fewer returns compared with last year because of the partial federal government shutdown.”

https://www.latimes.com/business/la-fi-tax-refunds-decline-trump-irs-20190223-story.html?outputType=amp&__twitter_impression=true

Excellent.

In the perfect world there should be zero refunds.

But we don't live in a perfect world; we live in the real world. Lots of very middle class people (my mom, my stepsister included) purposefully adjust their withholdings to provide them with a windfall at tax return time. Is it a "free loan to the government? Yes. Is it a relatively efficient and passive savings vehicle for the financially unsavvy? Yes.

[Anonymous]

Anonymous wrote:“The average tax refund so far has shrunk to $2,640 from $3,169 at the same point last year, according to Internal Revenue Service data through Feb. 15 that were released late Friday. That’s a 16.7% drop.

The total number of returns that qualified for refunds was down 26.5% compared with last year and the amount of money refunded was off by 38.8%, the data showed. The IRS has processed 6.6% fewer returns compared with last year because of the partial federal government shutdown.”

https://www.latimes.com/business/la-fi-tax-refunds-decline-trump-irs-20190223-story.html?outputType=amp&__twitter_impression=true

This is good news for taxpayers.

Why would anyone favor giving the government an interest free loan? If you get a large refund year after year, you are throwing money away.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:“The average tax refund so far has shrunk to $2,640 from $3,169 at the same point last year, according to Internal Revenue Service data through Feb. 15 that were released late Friday. That’s a 16.7% drop.

The total number of returns that qualified for refunds was down 26.5% compared with last year and the amount of money refunded was off by 38.8%, the data showed. The IRS has processed 6.6% fewer returns compared with last year because of the partial federal government shutdown.”

https://www.latimes.com/business/la-fi-tax-refunds-decline-trump-irs-20190223-story.html?outputType=amp&__twitter_impression=true

Excellent.

In the perfect world there should be zero refunds.

But we don't live in a perfect world; we live in the real world. Lots of very middle class people (my mom, my stepsister included) purposefully adjust their withholdings to provide them with a windfall at tax return time. Is it a "free loan to the government? Yes. Is it a relatively efficient and passive savings vehicle for the financially unsavvy? Yes.

+1 This doesn't mean that people are being more efficient about not overpaying the government during the year. It means they are paying more taxes, and the people who owe for the first time are in for a nasty shock.

[Anonymous]

Anonymous wrote:

Anonymous wrote:“The average tax refund so far has shrunk to $2,640 from $3,169 at the same point last year, according to Internal Revenue Service data through Feb. 15 that were released late Friday. That’s a 16.7% drop.

The total number of returns that qualified for refunds was down 26.5% compared with last year and the amount of money refunded was off by 38.8%, the data showed. The IRS has processed 6.6% fewer returns compared with last year because of the partial federal government shutdown.”

https://www.latimes.com/business/la-fi-tax-refunds-decline-trump-irs-20190223-story.html?outputType=amp&__twitter_impression=true

This is good news for taxpayers.

Why would anyone favor giving the government an interest free loan? If you get a large refund year after year, you are throwing money away.

It’s not good news because the people who are filing and not getting refunds are the same people who filed the same exact information last year and did get refunds.

[Anonymous]

Anonymous wrote:Loving my tax cut; thank you POTUS!

Specifics, please.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Loving my tax cut; thank you POTUS!

Specifics, please.

Not going to put my personal info here but I got a very nice cut. In fairness, I am in a no tax state.

[Anonymous]

Anonymous wrote:

Anonymous wrote:“The average tax refund so far has shrunk to $2,640 from $3,169 at the same point last year, according to Internal Revenue Service data through Feb. 15 that were released late Friday. That’s a 16.7% drop.

The total number of returns that qualified for refunds was down 26.5% compared with last year and the amount of money refunded was off by 38.8%, the data showed. The IRS has processed 6.6% fewer returns compared with last year because of the partial federal government shutdown.”

https://www.latimes.com/business/la-fi-tax-refunds-decline-trump-irs-20190223-story.html?outputType=amp&__twitter_impression=true

This is good news for taxpayers.

Why would anyone favor giving the government an interest free loan? If you get a large refund year after year, you are throwing money away.

They are getting smaller refunds because, unlike the super wealthy, THEIR TAXES WENT UP.

That isn't "good news for taxpayers."

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:“The average tax refund so far has shrunk to $2,640 from $3,169 at the same point last year, according to Internal Revenue Service data through Feb. 15 that were released late Friday. That’s a 16.7% drop.

The total number of returns that qualified for refunds was down 26.5% compared with last year and the amount of money refunded was off by 38.8%, the data showed. The IRS has processed 6.6% fewer returns compared with last year because of the partial federal government shutdown.”

https://www.latimes.com/business/la-fi-tax-refunds-decline-trump-irs-20190223-story.html?outputType=amp&__twitter_impression=true

This is good news for taxpayers.

Why would anyone favor giving the government an interest free loan? If you get a large refund year after year, you are throwing money away.

They are getting smaller refunds because, unlike the super wealthy, THEIR TAXES WENT UP.

That isn't "good news for taxpayers."

Or it is due to smaller withholding.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:“The average tax refund so far has shrunk to $2,640 from $3,169 at the same point last year, according to Internal Revenue Service data through Feb. 15 that were released late Friday. That’s a 16.7% drop.

The total number of returns that qualified for refunds was down 26.5% compared with last year and the amount of money refunded was off by 38.8%, the data showed. The IRS has processed 6.6% fewer returns compared with last year because of the partial federal government shutdown.”

https://www.latimes.com/business/la-fi-tax-refunds-decline-trump-irs-20190223-story.html?outputType=amp&__twitter_impression=true

This is good news for taxpayers.

Why would anyone favor giving the government an interest free loan? If you get a large refund year after year, you are throwing money away.

They are getting smaller refunds because, unlike the super wealthy, THEIR TAXES WENT UP.

That isn't "good news for taxpayers."

Or it is due to smaller withholding.

Read the articles. These people interviewed haven’t adjusted their withholding.

[Anonymous]

+1 This doesn't mean that people are being more efficient about not overpaying the government during the year. It means they are paying more taxes, and the people who owe for the first time are in for a nasty shock.

No. Most are paying less.

[Anonymous]

But we don't live in a perfect world; we live in the real world. Lots of very middle class people (my mom, my stepsister included) purposefully adjust their withholdings to provide them with a windfall at tax return time. Is it a "free loan to the government? Yes. Is it a relatively efficient and passive savings vehicle for the financially unsavvy? Yes.

Then, they can still adjust their withholdings to get a bigger return. If they want to give Uncle Sam an interest free loan, they are welcome to do so.