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

[Anonymous]

Anonymous wrote:First off, if you want to argue about the politics of it, take it to the politics forum... I'm asking because I read this piece: https://www.washingtonpost.com/business/2025/07/25/trump-tax-law-rich-liberals/

It's been really hard to figure out exactly how much I'll be gaining, but we have a HHI over $350k and every "calculator" says this will be a significant plus, but I haven't been able to figure out if that means in dollars and cents. I think most of the calculators are aimed at showing how most americans (ie, not a HHI of $350k+) will lose out, but I'm really curious to see what it translates to in dollars and cents. One calculator suggested I'll have at least a $30k benefit—but I think that means in terms of reducing my taxable income.

Either way, I think it's a disaster of a bill, but I realize that when we talk about how it will benefit the wealthy and hurt the poor, I'm someone who will be benefitting it. I don't mind getting extra money, but it sure doesn't feel right. As most of you know, even having a high HHI doesn't mean you don't NEED the money for something, so I suspect I'll just keep it (probably not spend it on anything extra), but does nayone have plans to donate?

It's a disaster of a bill, but I will accept whatever tax cuts I get (or rather that continue on, since they are already mostly in place). I will also happily accept the $15M estate tax exemption and utilize it soon to capitalize on that for both of us. I hate the bill, but I already pay a shit ton in taxes. Those of us with W2 and interest income don't "hide our money", we pay top rates, so we pay plenty

[Anonymous]

What tax cut? I’ve read thru the tax changes and none of them help me at all.

[Anonymous]

Retiree HHI 160,000 if tax cuts were not extended I would pay $6,000 more in Federal income tax

Problem with giving Federal Government more tax revenue is - they will spend it, the additional revenue won't reduce deficit spending, won't pay down the debt

[Anonymous]

Of course. Only hypocrites complain about it but intend to keep it. I don't complain about keeping more of my money and intend to use it as I see fit. Giving more of it to the government than it already takes is not in the cards.

[Anonymous]

Every time, the GOP makes a “tax cut”, I end up taxed more. Even if it isn’t immediate in the federal taxes, my state taxes end up growing as they take over whatever the Feds decided to drop. My costs also increase more. Generally, it is a lose-lose- lose policy.

[Anonymous]

Anonymous wrote:Every time, the GOP makes a “tax cut”, I end up taxed more. Even if it isn’t immediate in the federal taxes, my state taxes end up growing as they take over whatever the Feds decided to drop. My costs also increase more. Generally, it is a lose-lose- lose policy.

Perhaps you should vote for different candidates at the state level.

[Anonymous]

We make approximately 700k in w2 and 1099 income.

We will save less than 1000 bucks under OBBBA vs first 5 years of TCJA. It’s unremarkable.

Too bad I’m not a real estate professional, s corp pass through, or small business. They get literally every tax break available and have wide open loopholes ripe for abuse, with little opportunity for oversight.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Every time, the GOP makes a “tax cut”, I end up taxed more. Even if it isn’t immediate in the federal taxes, my state taxes end up growing as they take over whatever the Feds decided to drop. My costs also increase more. Generally, it is a lose-lose- lose policy.

Perhaps you should vote for different candidates at the state level.

I can testify to the fact that sometimes you vote, but the person you vote for loses. Have you considered this unlikely scenario?

[Anonymous]

For most people making a HHI for it to kick in, won't it just be the same as before? They made the existing cuts permanent. We won't benefit from the SALT deduction because our HHI is too high, so no real changes for us. I did not support the bill.

[Anonymous]

Anonymous wrote:Isn't this another "look at me, look at me" thread? I doubt OP will donate anything.

lol. OP wants applause for even thinking about donating. Wtf

[Anonymous]

Anonymous wrote:Yes I will take any tax cut I get. I didn't vote for this, but I am going to use any tax savings to keep my family safe.

Sadly this.

Letting the federal government keep it won’t do any good. I can pass some on through charitable giving.

[Anonymous]

I’m going to do my taxes next year according to the regulations and not think a thing about it. I pay, I get a refund, I break even. Whatever the rules say is what I’ll do.

[Anonymous]

Anonymous wrote:No one will be better off unless they're the outrageously rich.

This is objectively, and mathematically, very stupid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:No one will be better off unless they're the outrageously rich.

This is objectively, and mathematically, very stupid.

Quite so. I'm retired, and I benefit from the "cuts", which are mostly just making permanent those which were already in place. The people who don't benefit don't pay much or anything in taxes to start with - they may see some of their government-provided benefits reduced or eliminated, but they're not paying any more tax than they ever did.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yes I will take any tax cut I get. I didn't vote for this, but I am going to use any tax savings to keep my family safe.

Like, buy new locks?

Not that poster
However give. The dollar is going to crash …,,

Might want to invest in something that won’t mines going to real estate tangible assests or gold or silver