Leftist Media Brags about Lying about Trump Tax Cuts

[SG854]

I'm no expert in tax law, but I received a bigger refund this year than last year. I'm not sure why, but I'm not complaining.

There you go.

 

[yuyuyup]

I keep saying that a refund is not a good measure to see if your tax liability went down, it’s effective tax rate. I even linked an article from cbs news.

https://www.google.com/amp/s/www.cb...sing-under-the-new-tax-law-heres-how-to-tell/

This guy who is a lefty and not a rich corporation benefited from the tax cuts. His effective tax rate went down 13%. The comments on the YouTube vid are hilarious.

He got a tax break because he owns a business, I don't think 80% of America is getting a "massive tax break" ROFLMAO

 

[Xzi]

There you go.

Can you just stop pointing to anecdotal evidence as though it changes the reality at large? I received a smaller refund this year than I did last, but I'm still not basing all my opinions on that one experience. Think of it this way: what good is poll with only one respondent?

 

[cots]

Because there was no problem two months ago. Now suddenly immigration services are overwhelmed because of changes in policy made by the Trump administration. Not to mention blatant disregard for the law in the handling of asylum seekers. It's the literal definition of a manufactured crisis. When you threaten to stop taking asylum seekers and threaten to close the border, it makes people panic. Not only illegal immigrants.

Circumstances haven't changed much at the border in two months time. The influx of illegals is still around the same amount (which if you read the articles the Liberal media are now posting all basically cry foul due to the same reasons Trump was 2 months ago which are mainly the number of people crossing - as in "there are too many to handle"). Little things like very minute fragments of people raiding the existing fencing while attacking border against and getting tear gassed because of that isn't really an issue nor is the even smaller fraction of people that are dying (mainly due to existing diseases - what did all of the Liberals say when the autopsies of the two children that died that they blamed border patrol over came out that stated they died of diseases and exposure due to the parents negligence. Why didn't any of the Liberal media news sites cover the results and post outrage against the actual people responsible?).

It's just sad to see people that are so delusional that they can change their minds about the facts that were presented, but ask them if they were wrong and they can't admit to it when the facts are they were wrong and did change their minds because of being wrong.

When I'm wrong I usually apologize and move on - not hold onto my bitterness and hatred and act blinding out of feeling and rage (as that isn't going to help the situation).

So the Liberals were wrong about there not being a crisis. They were wrong about the two separate children who died in custody. They nitpick on small things like isolated tear gas incidents. I guess it's good they now admit there is a crisis and there has always been one all along, but they need to realize that supporting illegal immigrants isn't the answer and that we don't live in some fantasy world.

 

[Xzi]

So the Liberals were wrong about there not being a crisis.

No, no we weren't, and I still don't believe there's a crisis, beyond a crisis of leadership overseeing border policy. Please source anything you're saying.

 

[SG854]

Can you just stop pointing to anecdotal evidence as though it changes the reality at large? I received a smaller refund this year than I did last, but I'm still not basing all my opinions on that one experience. Think of it this way: what good is poll with only one respondent?

Why would you want a bigger refund? That’s you over paying in taxes. But IRS says in 2019 people will get a bigger refund.

https://www.google.com/amp/s/financ...ws/irs-now-says-people-getting-170638232.html




What about the New York Times?

https://www.nytimes.com/2019/02/27/upshot/lower-tax-refunds.html

Or USA Today?
https://www.usatoday.com/story/money/2018/12/06/taxes-2018-you-owe-year-get-refund/2207406002/

Or Money.com?
http://money.com/money/5634982/smaller-tax-refunds-2019/


Are your going to ignore these articles that say most people are paying less in taxes?

Only a handful of states with high taxes people will owe more.

The tax reform also increased standard deductions and doubled child tax credit, to reduce taxable income. Which should be a plus for you no?

They did put a cap on SALT deductions but that really mostly affects people in high tax states with high incomes and property taxes. But you can skip itemizing and take the higher standard deduction instead. Which means 88% will owe less and 12% will owe more of the 70% that deducted salt in 2017.

 

[Xzi]

Why would you want a bigger refund? That’s you over paying in taxes.

I paid roughly the same in taxes that I did the year prior, I just got less money back.

https://www.nytimes.com/2019/02/27/upshot/lower-tax-refunds.html

Or USA Today?
https://www.usatoday.com/story/money/2018/12/06/taxes-2018-you-owe-year-get-refund/2207406002/

Or Money.com?
http://money.com/money/5634982/smaller-tax-refunds-2019/


Are your going to ignore these articles that say most people are paying less in taxes?

That's not what any of those articles say lol. The first one is a garbage opinion piece on why you should be happy that your refund is lower, and the next two just help you determine whether you owe or get a refund. Not to mention that two of three articles were written before we had statistics available on what this year's refunds looked like.

Edit: If you want precise numbers, just over ten million people saw their taxes go up as a result of Trump's changes.

https://thinkprogress.org/10-millio...x-increases-under-trump-tax-cut-aa97d7aee410/

 

[Fugelmir]

I paid roughly the same in taxes that I did the year prior, I just got less money back.


That's not what any of those articles say lol. The first one is a garbage opinion piece on why you should be happy that your refund is lower, and the next two just help you determine whether you owe or get a refund. Not to mention that two of three articles were written before we had statistics available on what this year's refunds looked like.

Edit: If you want precise numbers, just over ten million people saw their taxes go up as a result of Trump's changes.

https://thinkprogress.org/10-millio...x-increases-under-trump-tax-cut-aa97d7aee410/

Earnings aren't static and as they change, people will shuffle around the tax bracket so 10 million people paying more taxes isn't that surprising, they'd still likely be paying less than in a previous administration.

I'm much more interested in seeing how the trade war will play out especially on Trump's 4% economic growth promise.

 

[Xzi]

Earnings aren't static and as they change, people will shuffle around the tax bracket so 10 million people paying more taxes isn't that surprising, they'd still likely be paying less than in a previous administration.

Lol, this a direct result of Trump's changes. If he had done nothing, ten million people would have paid less in taxes.

I'm much more interested in seeing how the trade war will play out especially on Trump's 4% economic growth promise.

Trump lies easier than he breathes (especially after all those Big Macs). There are several financial bubbles getting ready to burst, and I'd speculate that the US doesn't make it out of 2020 without another economic crash. It doesn't help that Trump keeps imposing new tariffs, despite not knowing what the consequences of those are. Democrats swept the 2018 elections pretty hard regardless, when mid-terms are rarely a strength for them. It's clear that Trump isn't getting much leeway simply because the economy is steady right now. Temporary economic stability doesn't stop him from being any less repulsive in a number of other ways.

 

[Plstic]

threads like these are xzi bait lmao.

 

[Xzi]

threads like these are xzi bait lmao.

Ideally, threads shouldn't have titles like this. Not only is it bait-y, it's also ironically sensationalist.

 

[Hanafuda]

Ideally, threads shouldn't have titles like this. Not only is it bait-y, it's also ironically sensationalist.

Matt Yglesias DID brag about progressive groups spreading disinformation to mislead the public about the tax reform law that was passed. That's not sensationalist. It's demonstrable fact. And you've certainly been doing your part in this thread to further the effort.

 

[Xzi]

Matt Yglesias

Who? Some nobody on Twitter represents the entirety of "mainstream" media now?

I also don't know where he got his "facts" that the majority got a tax cut. The facts say that taxes went up for a net 10 million Americans.

 

[Hanafuda]

Who? Some nobody on Twitter represents the entirety of "mainstream" media now?

I also don't know where he got his "facts" that the majority got a tax cut. The facts say that taxes went up for a net 10 million Americans.

Yglesias is a former writer and editor for The Atlantic and ThinkProgress, and a co-founder of Vox.com

Not a nobody.

 

[Xzi]

Yglesias is a former writer and editor for The Atlantic and ThinkProgress, and a co-founder of Vox.com

Not a nobody.

Yeah I Googled him after I posted, but I have no clue why he would make such a blatantly untrue statement about the majority getting a tax cut. The IRS' own numbers contradict that.

 

[Hanafuda]

https://www.nytimes.com/2019/04/14/business/economy/income-tax-cut.html

 

[Xzi]

https://www.nytimes.com/2019/04/14/business/economy/income-tax-cut.html

Good quotes in there:

High earners did far better under the law. The top 20 percent of earners received more than 60 percent of the total tax savings, according to the Tax Policy Center; the top 1 percent received nearly 17 percent of the total benefit, and got an average tax cut of more than $30,000. And that’s not even factoring in the law’s huge cut to corporate taxes, which disproportionately benefit the wealthy households that own the most stock.

With obscenely wealthy individuals receiving 77% or more of the benefit from the tax cuts, it's not surprising that your average taxpayer isn't seeing much, if any benefit.

The tax savings were relatively small for many families, however. The middle fifth of earners got about a $780 tax cut last year on average, according to the Tax Policy Center.

Most Americans would probably welcome a $780 windfall. But in contrast to 2001, when President George W. Bush’s Treasury Department mailed rebate checks to taxpayers, last year’s tax cuts showed up mostly in the form of lower withholding from workers’ paychecks. A few extra dollars in a biweekly paycheck proved easy to miss. Moreover, as taxpayers filed their returns, many found they were due smaller refunds than in the past, which may have further skewed perceptions of the law.

“Most people didn’t recognize the increase in take-home pay, or at least didn’t attribute it to the tax cut,” Mr. Rigney said. Some of them might realize it now that they’re filing their taxes, he said, but “it’s little consolation to discover that you received a couple thousand dollars during the year but you already spent it.”

$780 over the course of a year is barely anything to an individual, let alone an entire family. And many of them saw their refund go down by equally as much. It's clear the changes weren't written to give noticeable cuts to the middle and working classes, only to corporate fat cats instead. And no tax cut is worth the ridiculous amount that is being added to the debt and deficit as a result.

 

[SG854]

https://www.nytimes.com/2019/04/14/business/economy/income-tax-cut.html

Exactly what I said. Most Americans got a tax cut. The people mostly hit are people that itemize in high tax areas. But most Americans don't itemize, so most weren't negatively affected by it. And the cuts to itemizing, they can get a standard deduction instead that they doubled and child tax credit they doubled.





There's also one thing I want to point out is the top 20% mentioned in the article. Using 2011 data, might've change a little bit now, but using 2011 to reach the top 20% you need a household income of $101,583. That's about $51,000 each for two working couples. Slightly over $50,000 is hardly rich. To reach the top 5% you need $186,000, which is $93,000 for each couple. You don't even need to be a millionaire to reach the top 1%.



These are nice incomes but hardly part of the ultra wealthy when you been working your whole life and saving up to reach that. Bernie Sanders just recently became a millionaire. In fact most Americans in the high income bracket are older people, and people in the low income brackets are mostly young adults and teenagers. Make sense no? There is great income mobility in the U.S., people hardly stay in the same bracket and move up and down all the time. Most people from the bottom move out of those brackets when they get older. Especially when they get more experience. If you own a house in San Fransisco and sell it you'll reach the top 1% for that year, but quickly move down when you buy a new house.


There are more people that are heads of households that work in the top 20%, 20.5 million, compared to 7.5 million in the bottom 20%. The top 5% had more people working full time for 50 weeks or more then the bottom 20%, or 4.3 million compared to 2.2 million in absolute numbers. This shifts it to make it seem like a growing gap between the rich and poor. But more people reaching the higher income brackets working for more hours is the reason this is happening. These are the people your suppose to rail against when they complain about the top 1%. The "Rich" isn't an enduring class.



Source Basic Economics Thomas Sowell.

 

[Saiyan Lusitano]

I don't care so much if a website is leaning to the left, right or w/e but when it comes to Vox, BuzzFeed, Salon, NewsOne, Good Men Project, etc. Whenever I face these websites it feels like I've reached the ugly side of the Surface Web.

So anyhow, this isn't the first nor the last Vox was caught lying about something but itsi become "normal" for them. People these days falsify evidence and then when they're caught, they double down instead of apologizing for being con artists.

 

[Saiyan Lusitano]

Matt Yglesias DID brag about progressive groups spreading disinformation to mislead the public about the tax reform law that was passed. That's not sensationalist. It's demonstrable fact. And you've certainly been doing your part in this thread to further the effort.

Matthew Yglesias?! Did his parents not know how to spell? It's Iglesias.

That reminded me of an actress named "Lindsy" rather than Lindsey.

/rant