Reply to Face It: You (Probably) Got a Tax Cut

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We stopped paying almost all our AMT penalty but lost almost all our savings in SALT penalty. So yes we got a tax cut, but in the low 4 figures on a 250kish total tax bill. [/quote]

Thank you for demonstrating classic DCUM idiocy.  Since you paid AMT last year, you literally had no SALT deduction last year.  Therefore, you face no SALT penalty this year since you had no SAlLT benefit last year

You are almost as stupid as people comparing the amounts of refunds between tax seasons or those comparing marginal rates.  It's amazing that the United States survives as a self-governing society with the idiots on DCUM.[/quote]

Okay, I'll try to use short sentences so you can understand. Last year, paid AMT. This year, paid almost as much in tax. Why? Because despite tax cut, lost SALT deduction that AMT was screwing us out of. Without SALT deduction, back where we started. [/quote]

I'll use shorter sentences.  You paid slightly less because there was a small net cut in taxes at this income level.  I was in the same boat and now take the standard deduction.  You just don't like having other taxpayers not subsidizing your state tax payment

The purpose and effect of the tax law was threefold:
Cut taxes on capital income 
Simplify (Fewer Schedule A and AMT)
A modest tax cut, concentrated at  lower income levels.

I understand why politicians sold it primarily as a tax cut for labor, but it just wasn't.  If the news media we're to get their collective heads out of their asses, perhaps we could have reasonable political discussions.[/quote]

I know why my taxes were like they were. I’m not confused. [/quote]

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