Overall the wife and I made around four thousand less in 2018 than in 2017. That's not surprising seeing I worked an enormous amount of overtime in 2017 between the Super Bowl and Hurricane Harvey. In 2018 I did not make nearly as much, but she got a new job with a nice raise.
Now in conversation with some more liberal friends of mine, they are screaming that they got screwed because their tax refund is lower or they even have to pay for the first time in ages. I ask them what the effective tax rate they are paying is. And they say they are paying more because their refund is smaller. And again, I ask, what is the percentage of your annual income are you paying. And they scream about their refund being smaller.
See a pattern here? They cannot get the simple concept that if you paid 20% of your income with a $1000.00 refund last year, and this year you paid 15% with a $500.00 refund, you paid 5% less in taxes.
Personally, looking at the numbers:
TY 2017 Effective Tax Rate: 15.60%
TY 2018 Effective Tax Rate: 13.88%
And one very pleasant change. Using the standard deduction almost doubled my deduction. I've been itemizing for over two decades, but without having to do all that work, that's a massive amount of time not wasted.
But again, to all you libtard screeching about "paying your fair share," here is the solution to your issue:
Internal Revenue Service Center
Austin, TX 73301-0010
Just write them a check and they will thank you. Personally, I'll keep more of my money and time, you can keep the change.
Nobody Thinks They’ve Gotten a Recent Tax Cut, but a Majority Have: Reason Roundup
Fewer than 40 percent of Americans surveyed think they’ve seen a tax cut since 2017, when President Donald Trump signed the “Tax Cuts and Jobs Act.” In fact, most people think their personal tax burden has gone up. But “independent analyses have consistently found that a large majority of Americans would owe less because of the law” and “preliminary data based on tax filings has shown the same,” reports The New York Times. Meanwhile, “not even one in 10 households actually got a tax increase.”
Data from the Tax Policy Center show 64.8 percent of Americans got a tax cut, while SurveyMonkey/New York Times data found only 39.6 percent thought they got a tax cut.
People with household incomes of less than $30,000 were the most likely to accurately perceive the situation (32.1 percent got a tax cut, and 30 percent think they did). Much larger tax-cut perception and reality gaps exist at higher household income levels:
About 69 percent of people with a household income of $30,000 to $50,000 got a tax cut, but just 36.1 percent think they did.
Nearly 82 percent of those in the $50,000 to $75,000 range got a tax cut; 41.5 percent think they did.
86.6 percent of households making $75,000 to $100,000 saw a tax cut, but just 47.9 percent think they did.
And 89.5 percent of those in the $100,000 or more bracket got a tax cut, while just 46.4 percent think they did.
“To a large degree, ******the gap between perception and reality on the tax cuts appears to flow from a sustained—and misleading—effort by liberal opponents of the law to brand it as a broad middle-class tax increase,”****** write the Times‘ Ben Casselman and Jim Tankersley.
Wait, the NY Times is actually saying there is a "...sustained—and misleading—effort by liberal opponents of the law to brand it as a broad middle-class tax increase..." Good God, I need more coffee...well, more whiskey with a shot of coffee.