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
I'm going to keep shilling my results and this awesome calculator until the shills talking shit about this massive tax cut fuck off.
There's not anything to debunk it's just the math directly from the tax bills. It'll tell you if you save or pay more. Vast, vast majority save huge amounts of money and tiny minority of very wealthy in Democrat elite areas like NYC or San Francisco pay a little bit more.
There are a few unique situations that it's not designed to calculate, like EITC(Gibs me dats, free welfare money) or slight tweaks the Senate made to 401k deferments, but these do not affect 95% of Americans. To factor those it would require basically remaking an entire system like TurboTax or H&RBlock
Hunter Lewis
My outsider perspective has been that all things considered (like health insurance if payed privately) the tax plan will reduce the taxes for most.
But the biggest strength is that is simplifies taxation. All businesses will pay 18% on corporate earnings, rather than the few who can pay tax planners. And for the vast majority of people the tax plan is much more fair and simple.
And I think the latter is enough to support it.
Jordan Collins
Is this legit? It says I'm saving but everyone was telling me it would raise my taxes...
Juan Kelly
Meh...
Brody Stewart
>save 18% off tax bill in Senate plan >save whopping 26% off tax bill in House plan >"meh"
Jordan Thomas
nigger thats 25% for you what do you want? you barely pay anything
Michael Bell
I feel like this will benefits whites who want children more than other.
Hudson Walker
Do these plans affect 2017 earnings?
Sebastian Ortiz
Yes it's legit. I've had lefties on twitter literally get ANGRY with me and attack the calculator itself when they find out they're saving money. They seriously are angry that they were wrong thinking they would have to pay more. It destroys them mentally when they find out it really cut their taxes.
Camden Morris
Kek I would save a fuck ton living here in Montana.
Parker Long
That is something we will find out when the Senate and House negotiate their joint bill to send to Trump.
I am praying it's retroactive to 2017. If not it'll apply to 2018 income. At the very least you can turn down the federal withholding on your paychecks in January so you'll have more take home money every payday.
Lincoln Stewart
It benefits most people, but the removal of SALT hurt some rich bitches in blue states/cities... Who are always demanding we raise taxes, so there you go. It also cuts into graduate students and universities, which fund a lot of leftist bullshit, so yay.
Dominic Hughes
The irony. The left will pay more while the right will pay less, what's to hate and be salty about? isn't that what the left wants?
Luke Foster
Your AGI is 77,000? Are you sure that's not your actual income before your IRA and HSA contributions?
Ayden Sanchez
Tfw british. Has to pay: >Council tax >Income tax >National insurance >Tv licence >Road Tax >VAT >Fast food tax >Tax on luxury items.
At one point in our history we had a window tax.
Lincoln Phillips
I'd save about $5,000. Fuck YES!
Joseph Hill
It's a rough estimate of my AGI, my health insurance premiums are pretax so I would need to subtrat a couple thousand for that. My employer is adding 401k in January with a match so I will start using that. I have been scraping by paycheck to paycheck in the meantime and not contributing to IRA.
Fortunately I have built $65,000 in property equity in my main residence so I don't feel like such a miserable failure as I probably should.
But yes I'm glad you brought that up, everyone needs to make sure they subtract any tax deferred payments such as 401k or HSA from the income they input. For most here it's probably not much
Jace Gutierrez
I don't know what my Christmas bonus will be this year so I just kind of estimated the total AGI. It should be pretty close to that though.
Adam Scott
Jesus, I can't even imagine how far ahead of the world the US could be if Americans paid effective taxes. Like, mars colony shit.
Jeremiah Myers
>Council tax Streets won't police themselves, fuck off. Councils work hard. If it wasn't for Council Tax the Rotherham rapes would never have been exposed
>Income tax Would you prefer a £50,000 medical bill?
>National insurance Only thing preventing illegals getting jobs. Most refugees are very intelligent so good for mouth breathers like you as you don't need to compete
>Tv licence BBC produces the worlds best news and television service.
>Road Tax The UK has a fantastic road network. I haven't driven anywhere without road connections in my life.
>VAT Every country has this I'm pretty sure
>Fast food tax Actually a sugar tax, faggot. You obviously are unhealthy and deserve to be billed if this effects you.
>Tax on luxury items. Prevents rich arabs and russians taking advantafe
fuck off americuckold
Ian Perez
This.
Brody Gray
and a stamp tax and tea tax...
Ethan Foster
>BBC >Best news and television. Please go.
Angel Bell
#metoo, when you figure in no more fucking Obama penalty bullshit.
Kevin Roberts
stay cucked eurofag. Keep worshipping big brother and letting your government fuck you in the ass with high taxes
Henry Jenkins
...
Chase Ward
And that was with no deductions added.
John Sanchez
I thought my taxes were going up. This is nice, if true.
Hunter Taylor
So when will the House and Senate tell us if it's going to apply to 2017 income or not. I really really could use this it will literally change everything for me if it does. This is incredible.
Easton Cruz
Because the Democrats fucking lied to you that's why you thought that.
Nancy Pelosi says "This bill is the apocalypse. It's the end of the world"
California governor says "This tax bill is evil"
top fucking kek. It's the apocalypse for the Democrat party, that's what it is.
Landon Stewart
Are you me?
I was honestly against the tax plan because I thought since i lived in a somewhat blue state my taxes would skyrocket. When i found i save near 1000 dollars i showed a libcuck friend of mine and he started getting mad at me, then started asking if the calculator was funded by trump, then LITERALLY scolded me for showing mine and his savings on the calculator and asked if i wanted to end our friendship right then and there.
The level of irrational hatred is off the harts-almost supernatural. Like they’re possessed by a spirit. Pic very much related.
Jacob Reyes
>Every country has this I'm pretty sure In the United States, currently, there is no federal value-added tax (VAT) on goods or services. States can do it, but the Federal Government does not run a sales/VAT tax
Alexander Ward
To be fair, my pay is lockstep so I'll only save money for another year or so. After that, I'll have to pay more under the new plan.
Austin Wright
Bump for quality thread
Jayden Flores
I've been googling and can't find an answer to this. Gary Cohn says it won't be retroactive to 2017 but then several Congressmen say it WILL be retroactive to 2017, all in the same week they made these statements
Colton Rivera
I don't think we'll find out until right before the final bill is passed to send for Trump's signature. They're probably fighting about it literally right now amongst each other in the negotiations.
Landon Anderson
Before King Barry proposed his "it's not a tax, it's a mandatory fine imposed by the government and enforced by the IRS..." horseshit, there was an actual proposal to just charge a 1% tax across the board and use to to pay for fucking health care.
It was already on the table, proposed by the Negro King himself, to prop up a system just like every other socialist country the liberals constantly cock-gobble. Libs hated it.
Libs were furious at the idea of having to pay anything (even though most of them still wouldn't, because they don't earn enough on their Starcucks wages to pay a goddamn thing in federal taxes.) They insisting that "the rich" be forced to pay for everything, and that they'd never contribute a dime of their own money. So the tax was shut down, and we got something even worse.
Meanwhile the same jew-puppet liberal faggots keep screaming about how people have to pay a "fair share."
Lucas Carter
...
Aiden Richardson
Bump
Ryder Jones
Nice. See, even the low incomes at $20,000 per year are getting a tax cut. But "muh evil tax plan for the rich"
David Gomez
Praise
John Butler
No wonder he's poor.
Liam Lee
you only pay $4k normally? fuck.
Nathan Smith
Bong in Burgerland. I pay a little less here than in the UK, but I get fuck all for it. At least there you get stuff. But pros and cons, I get way more work and paid way better here.
Jayden Roberts
Wow, Californian housing bubble owners are super fucked.
William Gray
I'll save more next year Found out today I'm going to be a Dad. ^_^
Jaxon Bell
Yep, and soon half of that. At least I pay and I'm not a gibs me dat. We don't take any form of public assistance.
Blake Harris
>end our friendship right then and there
You should take up on the offer.
Ryan Peterson
Congratulations friend! God bless!
Nicholas Sanders
no that's good, mate. I just need to understand it better still, slowly getting my head around it.
>most (((refugees))) are very intelligent >I don't even see the niggers anymore >all I see is doctor, lawer, surgeon, future prime minster
Charles Reed
>"I HATE YOU, YOU SHOWED ME I SAVE MONEY!!!"
Isaiah Lewis
>the iraq war will practically pay for itself >these tax cuts will bring more jobs
let me guess, it's going to work this time, r-right?
Connor Thompson
The CBO scored the tax plan using Obama's HORRIBLE 1.5%GDP growth. Trump is already at 3.3%+ GDP growth. If they scored it with his and also accounted for economic activity from the cuts they'd see it creates a surplus. Unsurprisingly, when Obama was POTUS and they were scoring his proposals they used a fictional 4% GDP target. The CBO is a partisan JOKE and their projections are inaccurate.
Easton Bailey
Saving $1,300 off the Senate plan
Saving $1,900 off the House plan
Gavin Myers
Not bad, I expected no savings.
Xavier Bell
With payroll tax at 15% and an average income tax at 15% you would need to add another flat 17% on top of your income tax.
Ie, you'd go from 15% income tax to 32% to fund the current healthcare system.
My personal belief is that having a "basic care" that is capped at 5% of taxes for emergency healthcare and an annual checkup could suffice. Following doctors prescriptions will be required to have the state pay any procedure or medication. For more protection buy an insurance.
Luis Cox
Weird yours are almost the same for both. Lots of people are getting huge variations between the two plans
Grayson Young
Turns out I will “owe” about $750-$850. Looks like the only real loss is the property tax deduction. Can only use $10,000 out of the regular $16,200.
Really not that big a deal in the end. I don’t want to come off like a middle class punk but there’s very little difference at the $180k-$200k level. I’m not really sure why everyone is bitching about how the middle class is going to get fucked.
Henry Nguyen
Making that in the UK and I'd love a tax plan this unfair.
Brandon Phillips
Unfortunately we’re not hearing much about how doubling the standard deduction from the people it will actually help.
Pretty much anyone making under $75,000 that didn’t fall for the college meme is going to do pretty well. All we are hearing about is the college boys and girls bitching about how their completely free room and board during their internship isn’t deductible any more. Fuck off and wait tables on the weekend to pay the taxes. Welcome to adulthood.
Jayden Ward
Which state?
Nathaniel Sullivan
>me and wife >3 kids
Evan Gutierrez
Nice. I'm gonna save upwards of 2000 dollars even though I live in Cucknecticut with all its high taxes.
THANK YOU PRESIDENT TRUMP!
Chase James
Why did they take away the personal exemptions? Did the Republicans give any reasoning? Its gonna suck for people that have families and can no longer deduct 4k per head
Liam Smith
Can you elaborate with sources so that I can screencap it and rub it in liberal faces?
Liam Bell
>>cuts 1500-1700 before I add deductions like property tax and home improvement tax exemptions If this gets added retroactively I would double my tax return
"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. "
Juan Smith
No it doesn't. They increased the standard deduction to 12,200 and for married couples up to 24,000. Then they DOUBLED the child tax credit. Those both together completely dwarf the old "personal exemption"