POST HOW MUCH YOU WILL SAVE! MY RESULTS IN PIC RELATED!
Note: If you have zero (or negative such as EITC) tax liability, this calculator will not work accurately for you. Gibsmedats need not apply. Also, make sure to input your income minus any tax deferred contributions like 401k or HSA. Moving expenses, student loan interest, and tuition are no longer deductible under House bill. If you have those deductions: Run calculator twice, both with & without them as income, to see the impact.
THIS IS FUCKING AMAZING! MY TAXES RE NEARLY CUT IN HALF
For me the House Bill saved way more. For you the Senate Bill did. That's an odd quirk. Still fucking badass.
Owen Allen
Weird yours is like the complete inverse of mine with the House and Senate. Wonder which will win when they negotiate the bill between the two chambers.
Brody White
Yes plz
Samuel Reed
That's nice i guess.
Joshua Martinez
Anyone on here know what exactly in particular is causing it to be different in those scenarios?
Matthew Green
For the first time ever, I owe money. FML
Ayden Miller
Most likely marriage and children.
Christopher Brooks
Post your results then please. "Owe money" doesn't mean anything, your tax liability is what matters. You can "owe money" because you didn't withhold any taxes all year but still be paying less than you did the previous year.
Nicholas Moore
...
Jackson Gutierrez
Tfw not a lazy entitled faggot wage slave who counts on big daddy government for hand outs. Fuck the GOP.
Elijah Wilson
What state, filing status, what income levels and what deductions? Post your info please.
Lucas Butler
Seems like the Senate plan is friendlier to couples with kids, House plan gives married couples with no kids a bone via "family tax credit" for married couples in addition to child tax credits. I like the encouragement to end single parent household, that's positive for society. It doesn't HARM single parents, but it gives married couples with kids and extra boost.
Asher Young
Single, airline pilot, Michigan $230000 income minus per diem House plan savings $5K Senate plan savings $3K, but expires in 2025 The Senate is a shit
Henry Wilson
if you make 60-100k you arent rich but you pay a lot of taxes
i appreciate this tax cut
its not my job to raise urban democrats
Grayson Gutierrez
The Senate's only expires in 2025 so they could meet the rules for budget reconciliation and pass it with less than 60 votes. The parliamentary rules forced them to add it. In 2025 Congress will extend the cuts, nobody will allow individual rates to hike in that manner at that time.
Gabriel Bennett
It cuts taxes for the low income urban democrats too. Try it with shit wages in Cali for example. Those who get GIBS at tax return time (IE: MORE BACK than they ever paid in) are not affected by this law, no negative affect for them, but no additional gibs given either.
Angel Howard
Couple extra grand in my pocket, will be nice.
Matthew Parker
Females think it is, especially if you are a 6 figure income single white male. I can't believe the amount of women that feel entitled to my money. Just yesterday, I was gassing my car near the airport, and the lady next to me filling up demanded I pay for her gas.
Isaac Stewart
>receives services >doesnt want to pay for them Fuck negros.
Nicholas Hernandez
>and the lady next to me filling up demanded I pay for her gas. Just like, because she had a vagina or what?
Nicholas Edwards
feelsgoodman
Carson Walker
Because I was in uniform, and drive a Porsche Macan.
Andrew Robinson
I hope they eliminate the AMT in the final bill, that thing is so fucked.
Chase Jones
>mfw live in Ireland so don't get to rejoice in tax cuts Hold me, Sup Forums....
Sebastian Clark
But, what was her reasoning?
Luke Anderson
>Woman "Sir, I can see you are a very privileged individual." >Me. "ok" >Woman "I'm going in to tell the attendant that you are paying $40 for my gas" >Me "heh, no, I can't do that sorry" >Woman "I see you are a real piece of shit too" >Me "have a great day"
If I were out of uniform, I would have told her to fuck off.
Alexander Parker
I wouldn't have been able to hold it in. I might have taken a shit in her gas tank just to make my point.
Nicholas Jones
For me usually it's illegals that walk up with a gas can and shove it towards me while I'm pumping gas. Happened three times last year. They dont speak any English
I can't, the company I work for has extremely strict conduct rules while in uniform.
Jeremiah Taylor
You are all just like the GIBS ME DAT you all complain about KEK
Jaxon Lee
How am I like the gibsmedats? I have a family and don't take a single penny of public assistance. My property taxes exceed the public schooling costs of my two children each year.
you sound like a salty gibsmedat who claims EITC every year.
Matthew Morris
How is the disparity between the House and Senate bill so massive? That's over a $14'000 saving difference
Josiah Adams
I've had them do that to me in the parking lot of a supermarket, usually with a kid. I've lost my shit on a few of them.
Jaxon Gutierrez
>wanting to keep money I make is gibs Lolok
Cameron Collins
Makes sense, but is unfortunate
Gabriel Johnson
The CBO scored it with Obama's miserable 1+% GDP growth. If they had scored it with Trump's 3% plus growth it'd actually create a surplus rather than a deficit with the increased revenue from economic growth.
Here's what should really piss you off: When the CBO scored Obama's programs they used 4% hypothetical growth. Which turned into 1+%
Brody Mitchell
$12,000 Freelancer / NEET >Looks like you fucking idiots might owe ME money kek
Levi Rodriguez
You are so retarded about money that you made a jew laugh.
Matthew Turner
see:
>Note: If you have zero (or negative such as EITC) tax liability, this calculator will not work accurately for you.
Doan take dat is not the same thing as gibs me dat
Owen Cooper
Sick
Colton Brooks
>CBO >Non-partsan
You may choose one.
Jordan Campbell
It’s a pretty wild swing. I’m making 400k as a physician with a wife and 2 kids. I wonder if being a W2 vs 1099 makes a difference
Josiah Wood
Be NEET pay nothing.
Isaac Davis
haha yeah I know. CBO is Democrat propaganda with the shenanigans they use in that GDP prediction. No joke.
Brandon Mitchell
I just posted this to my Facebook, and I'm expecting a lot of redpills to be administered when everyone sees that they're going to save money and realize the media is lying to them
Gabriel Wood
People are just plain stupid. I was able to figure out long ago this would save me money. Sure if I made 2 or 3x the money I would save more, but why should I be jealous about that?
Jace Campbell
...
Parker Young
LMFAO $22,000 state and local taxes hahahhahahaha Blue state elites BTFO
David Perez
It appears that the Senate plan is better for families filing jointly while the house plan is better for individuals
Nolan Collins
For comparison, in a SANE state with normal state income tax rates
Jonathan Edwards
>normal >not 0 Sad
Jonathan Russell
Are you a real jew?
Parker Gutierrez
So let me guess straight, some people will temporarily be saving money, couple of thousands of dollars a year, but in exchange for that there will be 1+ trillion that goes on the deficit near the end? Why is this such a good idea?
Christian Lewis
WRONG! The CBO came to that conclusion using Obama's miserable 1% GDP growth.
Trump is already at 3+%
Their numbers are completely inaccurate.
(FYI, when the CBO calculated for Obama's pet programs they used 4% potential GDP growth)
Colton Diaz
Sorry If I don't believe that. Don't get me wrong, I like the extra savings, with this I will save around $1500, but something tells me it will definitely add to the deficit one way or another. It will be the same as it ever was.
Chase Bell
It's true bud.
Lincoln Thomas
then you had better call your congressmen and tell them you want to see federal spending go way down
Cooper Cooper
can you give source for that? all my lib friends are freaking out about the trillion dollar deficit.
I'd like to redpill them further
Blake Evans
You misunderstand, it's more DONT TAKE DAT, you know what taxes are right?
Jackson Russell
More likely that they're not considering the additional state taxes you'll be paying from the elimination of SALT deductability.
For example, 160k in CA shows a $3500 tax decrease, that's not correct. This is Federal taxes only.
Nathan James
>The staff of the Joint Committee on Taxation is currently analyzing changes in economic output, employment, capital stock, and other macroeconomic variables resulting from the bill for purposes of determining these budgetary effects. However, JCT indicates that it is not practicable for a macroeconomic analysis to incorporate the full effects of all of the provisions in the bill, including interactions between these provisions, within the very short time available between completion of the bill and the filing of the committee report.
Right there on page 2. They're using Obama's HORRIBLE GDP growth as the basis for their calculations. They refuse to use the real growth under Trump.
Hudson Cruz
>I wonder if being a W2 vs 1099 makes a difference
Yes. You should be using an LLC anyway, doc.
Gabriel Cox
Well no shit, THEY rushed it in, and who made the budget and who was in charge for 6 of the 8 Obama years? It wasn't the democrats or Obama. Fuck the two of these parties. They are literally hoping it will grow the economy. There's no significant economic data to suggest that tax cuts result in job or wage growth. Essentially, they're just hoping it will. I will see you guys later, have college in 3 minutes.