Has your take home pay increased with the 2018 tax reform?

[msomnipotent]

Our current paycheck was just deposited and it is $105 more than the last one, which was $41 more than the one before that. That's a lot of pennies to roll around in.

[Drake3287]

This isn't a political comment just interesting point. Like many of us, I've seen and read all the anti-Trump/anti-tax change posts on places like Face Book, etc. but now that it's all said and done, most of these same people are taking home an extra hundred buck's or two each month. (at least my friends)

I no longer see them complaining about the tax change. Funny what money does to people! I wonder how many of them are going to donate this new found money they complained about.

[tripods68]

This isn't a political comment just interesting point. Like many of us, I've seen and read all the anti-Trump/anti-tax change posts on places like Face Book, etc. but now that it's all said and done, most of these same people are taking home an extra hundred buck's or two each month. (at least my friends)

I no longer see them complaining about the tax change. Funny what money does to people! I wonder how many of them are going to donate this new found money they complained about.

You think people don't complain, I still complain because I considered myself "fiscal conservative" Independent. The Trump Tax cut simply increased the federal deficit by 1.5 Trillion without paying for it and now he is planning to raise the federal gas tax by 25 cents to pay for his infrastructure that will add to deficit another 1.5 Trillion. Whether you are rich or poor, a gas tax is a progressive tax on everyone which if it passes eventually will wipe about 60% of his tax cut benefit to individuals. I'm not trying to start a debate here. But I can't longer say the Republican party is for fiscal constraints. That's now a complete JOKE! If I ever say hear that from a Republican talking head, you know they are smoking CANNABIS! I don't even know what they stand for now. Gun rights? I did not vote for him since I know he was an ill-informed, egomaniacal bundle of whims.

As it turned out Obama was far more fiscally conservative in his 8 years while in office. Obama even froze federal employees pay for 3 years from 2011 to 2013. If you include TARP/Obamacare cost, it's nowhere near close than Trump Tax cut did in his first year in office.

[corn18]

You think people don't complain, I still complain because I considered myself "fiscal conservative" Independent. The Trump Tax cut simply increased the federal deficit by 1.5 Trillion and now he is planning to raise the federal gas tax by 25 cents to pay for his infrastructure that will add to deficit another 1.5 Trillion. Whether you are rich or poor, a gas tax is a progressive tax on everyone which if it passes eventually will wipe about 60% of his tax cut benefit to individuals. I'm not trying to start a debate here. But I can't longer say the Republican party is for fiscal constraints. That's now a complete JOKE! If I ever say hear that from a Republican talking head, you know they are smoking CANNABIS! I don't even know what they stand for now. Gun rights? I did not vote for him since I know he was an ill-informed, egomaniacal bundle of whims.

As it turned out Obama was far more fiscally conservative in his 8 years while in office. Obama even froze federal employees pay for 3 years from 2011 to 2013. If you include TARP/Obamacare cost, it's nowhere near close than Trump Tax cut did in his first year in office.

Data shall set you free:

[disneysteve]

This isn't a political comment just interesting point. Like many of us, I've seen and read all the anti-Trump/anti-tax change posts on places like Face Book, etc. but now that it's all said and done, most of these same people are taking home an extra hundred buck's or two each month. (at least my friends)

I no longer see them complaining about the tax change. Funny what money does to people! I wonder how many of them are going to donate this new found money they complained about.

First, I don't think people were "complaining". I think they were expressing legitimate concern. Second, the reason you've stopped seeing those posts is because they were occurring when the plan was in the news and being debated and finalized. Now that it's a done deal, it is what it is and we're stuck with it (at least until the Democrats regain control). There's no point in discussing it now.

All of that said, you're absolutely right - and the administration knows it. Give people a few extra dollars and suddenly they're singing your praises. I saw more than one post on Facebook from someone whose paycheck was a little bigger and was thanking Trump. It's disturbing how easily public opinion can be swayed by something shiny.

[tripods68]

Data shall set you free:

Wait in 10 years what this graph would look like under Trump.

Oh, wait...

Republican passed a budget a week ago giving them another 2 years, giving the military more money 85 Billion they didn't ask for. What happens to debt ceiling??...that's right Congress punt it for another 2 years so they don't have to deal this year's election.

[Gailete]

As this thread is about the personal effects of the tax law changes, I just wanted to mention for those that still aren't clear on the major points for them. Money Magazines March 2018 issue has an article that is fairly clear to understand that deals with the issues that most middle America has to deal with.

[corn18]

Wait in 10 years what this graph would look like under Trump.

Oh, wait...

Republican passed a budget a week ago giving them another 2 years, giving the military more money 85 Billion they didn't ask for. What happens to debt ceiling??...that's right Congress punt it for another 2 years so they don't have to deal this year's election.

I find it difficult to associate fiscally conservative and Obama based on data.

[tripods68]

I find it difficult to associate fiscally conservative and Obama based on data.

Give it time...wait after Trump leaves office in 3 years the deficits would be 25 Trillion under Trump....unless he gets impeached by Congress for Treason. But I digress...

If you accept that Bush (Yes I voted for him TWICE!) gave us two wars (Afghan & Iraq) that was not paid for and run huge deficits. Then you have the 2008 market collapsed. Obama had to rescue the country by buying toxic assets called TARP while unemployment was rampant. It included unemployment benefits to millions of people. Thanks a lot, BUSH! It's easily forgotten that Obama had to increased spending to save the country.

What's Trump going to do to save this country when the next recession hits? I mean, he just added 1.5 Trillion an already booming economy. I don't think there isn't any left to do but destroy this country for good.

[annibe11e]

Mine went up about $7/wk.

Here's a 2017 and 2018 comparison tool:

https://www.hrblock.com/tax-calculator/#/en/te/aboutYou

[annibe11e]

One idea I've thought of numerous times is this:

Why doesn't the gubmit just take ALL of the $$ it needs from our paychecks - income taxes, ss taxes, property taxes, sales taxes, auto taxes, license taxes, etc. - and give us what is left over?

Wouldn't that be a lot easier than this annual charade we play, hiring accountants, buying tax software, etc.

I mean, they are going to get what they want in the end. Let's just call a spade a spade, and let the gubmit start paying everyone. Might save a lot of time, headache, and even $$ in the end!

For one it takes away financial choices. I can save money on taxes by buying less stuff, not having a car and license. Plus a lot of these taxes are used for services related to use. So, there are some things you may not use that you don't have to pay for. How about the additional taxes on cigarettes? Right now the only people paying that are smokers. The "sin taxes" being spread among everyone probably wouldn't go over well for a lot of people. Basically, "we're going to make smoking more affordable and all of you are going to pay the difference."

Then there is the Fed vs. State vs. Local tax. For instance, property tax is county by county. I'm paying for services where I live, based on how I live. In Minnesota, the county handles snow removal. How would that be paid for? Would every county in america get snow removal budget? Or would the government have to hire a huge workforce to determine the needs county by county? Even the wages for each area for local employees would have to be taken into account. I just don't think a completely central government makes sense in a country this large. And that's what you're talking about; centralizing everything.

People can evade income tax by working for cash under the table, not to mention people who don't work, either because of disability or being on other forms of government assistance. All of those people still pay some taxes just by purchasing, driving, renting a home (property tax is rolled in to rent prices). So those of us working and reporting our income would pick up even more of the tab for those that aren't.

[Snodog]

I'll give Trump credit - he knows that what we call deficit spending is what grows economies. But I just wish he would cut taxes for the lower classes instead of for his rich buddies. Now phase 2 is coming and more tax cuts for the people who are already rich.

And in a few years when we realize tax cuts for the rich actually decrease revenue they will tell you that the government debt is too high and we need to cut entitlements and to think of our grandchildren. Remember there is no government debt, it's a lie and an illusion. Everyone has their treasuries which are a form of money, just like a dollar bill federal reserve note. Every generation gets to spend what they produce. It can be no other way. We aren't sending cars back to 1948 to pay for WW2!

We live in a world of abundance not scarcity. Don't listen to the fiscal conservatives, whether they be D's or R's.