Are you going to accept your Trump tax cut? (NOT A POLITICS THREAD)

[Anonymous]

We will be better off. But everything else will be more expensive. I anticipate donating a lot more to our PTA and local shelters.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I was thinking of donating it, but with a HHI of 350k, we still can’t afford to buy a home in NW DC… and considering there seems to be a 50/50 chance the economy will completely tank, we’ll probably end up saving it.

Why do you think that?

Have you been awake for the last six months?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I was thinking of donating it, but with a HHI of 350k, we still can’t afford to buy a home in NW DC… and considering there seems to be a 50/50 chance the economy will completely tank, we’ll probably end up saving it.

Why do you think that?

Have you been awake for the last six months?

Yes, I have. Again, why do you think the economy will tank?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I was thinking of donating it, but with a HHI of 350k, we still can’t afford to buy a home in NW DC… and considering there seems to be a 50/50 chance the economy will completely tank, we’ll probably end up saving it.

Why do you think that?

Have you been awake for the last six months?

Yes, I have. Again, why do you think the economy will tank?

Because the pp is a democrat. The dem mindset: “I hate Trump personally, therefore the economy is going to crash.”

[Anonymous]

When I hear wealthy people whine about Trump while reaping the benefits of his tax policy, all I think of is how hypocritical they are. Anyone with integrity would donate all the money they dont need.

[Anonymous]

We plan to donate it to an org that help tribal governments buy solar panels. He can take away the tax incentives, but he can’t take our individual choice to fight climate change and creating energy sovereignty.

[Anonymous]

I donate a percentage of my after tax income, so if that goes up, my donations will go up.

My federal job is being restructured though, so otherwise I will be continuing to build savings in case I end up in a new job I really hate.

[Anonymous]

I'll pay the taxes I owe under the current law; not extra. I will keep donating to charities and helping friends and family who need it. I will support candidates who will support better policies, even if I wind up needing to pay more in taxes in future years.

[Anonymous]

You do realize we’re still under Trump’s tax code so… Trump increase taxes so we pay a shit ton of taxes, now he’s decreasing taxes so that we’re paying the same taxes we paid under Obama and we’re supposed to what thank him?

That’s his classic created a problem solve a problem.

These are not tax cuts. These are just going back to Obama’s taxes.

[Anonymous]

We are pretty wealthy and very HHI and we would have been better off if taxes had reverted. Our income is several million. Pre Trump we got to deduct about $250k in SALT even at a higher tax rate. The SALT limitation exceeds the decrease from 39.6% to 37% top tax rate.

The new decreased tax benefits on donations makes it worse than current as we usually donate 6 figures.

[Anonymous]

We're federal employees and too "poor" to receive a Trump tax cut.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What a stupid thread. Who is stopping you from donating?? Tax was killing us so I am glad with any reduction.

Tax was killing who? The people in most economic peril aren't getting any relief here.

No one is stopping me from donating. I haven't decided what to do, in part because it's not clear how much of a winner I'll be. I'm curious if other wealthy people are considering doing it.

The people in the most "economic peril" don't pay federal taxes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What a stupid thread. Who is stopping you from donating?? Tax was killing us so I am glad with any reduction.

Tax was killing who? The people in most economic peril aren't getting any relief here.

No one is stopping me from donating. I haven't decided what to do, in part because it's not clear how much of a winner I'll be. I'm curious if other wealthy people are considering doing it.

The people in the most "economic peril" don't pay federal taxes.

Good point. This tax cut is not about disadvantaging the poor it is about missing the opportunity to deal with the budget deficit. Musk is right to be mad.

[Anonymous]

Anonymous wrote:Hell yes, I'm "accepting" it. Of course it was my money to start with.

This. Nobody is giving us anything. They MAY just take less of our money than they used to. Why would I give the government more of my hard earned money to waste?

If you have programs in mind that you feel are worthwhile and underfunded then nobody is stopping you from donating your money to those causes.

[Anonymous]

Do the tax cuts help any wage earners at all? I thought you had to do all the rich people grifting business practices to get anything.