taxplancalculator.com
My results are in pic related.
The calculator only works if you pay taxes, it doesn't work if you "owe zero or negative taxes"
Make sure to enter your income minus any non taxable income like 401K or HSA contributions
How much do you save? I save nearly 50% in the Senate plan!!!
Even with losing SALT and itemizing i still save money. Democrats told me it would raise my taxes if I itemized SALT deduction in the past. Fucking liars I can't believe I believed them. I even responded to one of those phone pollsters saying it was a bad plan. Oops.
>wow my personal experience proves this is working
What do you mean? It proves I get a tax cut not a tax hike. I was blatantly lied to by Democrats in Congress and the people I know on Facebook.
>The calculator only works if you pay taxes, it doesn't work if you "owe zero or negative taxes"
This is why blacks will always vote democrat
I get about $2k back. Nothing like 50% but I'm not complaining.
Besides the low-income people deserve it more.
>Fucking liars I can't believe I believed them
They're Democrats, what did you expect? They are THE party of liars whereas the Republicans are merely the party of oafs. Between the two I'll take the oafs. At least I know they aren't trying to scheme me out of my life and wealth.
I'm getting a pinch above or below $2,000 back depending on the plan. It would be awesome because I pay a ton of money towards student loans so it would let me keep paying them aggressively and have more buffer.
Why wouldn't you want to pay them aggressively? I went to buy a modest car last year and had to take out a $15k loan because they had rules about me not being part of a big bank.
I just payed it off over 3mo instead of out of pocket like I had wanted.
>tfw they LITERALLY won't let you pay for a car out of pocket
Someone on a previous thread was saying "the tax plan is bullshit because it doesn't help people who don't pay income tax"
I explained that it doesn't hurt them at all, it doesn't take away ANY of their gibsmedats and doesn't reduce the EITC at all. They told me it doesn't matter, that since people who pay taxes are getting a cut and people who don't pay "don't get anything from it" that it's unfair and mean spirited.
NPR was throwing another fit about the tax plans this afternoon. As usual it sounded just intellectual enough to be true.
Problem was it was
>democrat tax plans are always good
>republican tax plans are always evil
>look at my statistics
>let's not talk about what might or might not have caused these historical trends
>believe my dogma
>and let's never ever talk about the Jewish banking system
I don't know it's just everyone was saying it even my coworkers etc were bitching about how they are getting a tax hike because "the fucking GOP only cares about rich people." I will show them this calculator tomorrow at work
5% real gdp growth next year
Trump can't be stopped
I'm paying them very aggressively, but I still have to pay for rising rent costs and everything else month to month. Cutting it close, especially for someone making pretty good middle class income. But I want these fuckers paid off ASAP
Sounds like lower middle class income to me. That's how I grew up.
I feel like a king being able to go out and buy a car that's more fun that I need without even needing to liquidate savings. Just because I think cars are fun.
If you use Google news search and search for "tax cut" there are multiple articles still inciting panic over "tax hike" and "GOP tax cut a huge mistake" by Washington Post, Chicago Tribune, etc etc.
I fucking hope they make them retroactive to 2017 so people get thousands more back at refund time and Democrats get BTFO in the midterms. In reality it'll likely not be retroactive and apply to 2018 income, so at least people will see bigger paychecks as their withholding amounts are changed.
The funniest part is they're so exasperated. I mean some of these shows I've been listening to for years and they've at least been able to maintain some degree of integrity.
>oooyyy veeeeyyy why are we losing market segment
>oooooooooy veeeeeeey why won't the goyim believe us anymore
*throws toys out of the crib*
>they're all so much worse than we are, we're totally not nasty bitchy cunts, we're just trying to meet on equal grounds
>fuck them we need our gibs
the actual fuck
it's worse than
>now to listen to 15 minutes of obvious fat lesbians talk about sex toys
>this is supposed to be family radio
...
Nice!! House plan better for you while Senate plan is better for me. I wonder what they'll do in conference to merge the two bills
>What do you mean? It proves I get a tax cut not a tax hike.
It SAYS you get a tax cut. Ever stop to consider who made the calculator and what motivations they might have?
Oh well, proof will be in the pudding. I know I'll be alright but I also know that as a matter of fact, most taxpayers are getting fucked. As long as Donald tells them it's great, they'll believe in their hearts that it's great though, so they'll be happy anyway.
It shows the math right there on the breakdown. Did you even try it yourself? It matches exactly what was in the bills, I googled the rates myself. All websites say mortgage interest is still deductible and that's what I use. My property tax is just over $1,000 which is nowhere near the cut off of $10,000. You're trying to spread fear uncertainty and doubt because you know these taxes will save millions of families thousands of dollars.
>Attacking a fucking calculator because the unbiased mathematics do not support your agenda
LMFAO
>I MIGHT get a small tax cut at the cost of adding over a trillion dollars to the deficit. sounds good to me hur dur
I hope your kids arn't planning on going to college
Wrong, the CBO scored the plan using Obama's 1.5% GDP growth. Trump is already at 3.3% GDP growth. A surplus will be created as revenues increase from the surge in economic activity taking us to 4-5% GDP growth. Check the CBO report yourself, page 2. They refused to use the proper projected GDP from economic growth "because of a lack f time before the votes in Congress"
>You're trying to spread fear uncertainty and doubt because you know these taxes will save millions of families thousands of dollars.
Why the fuck would I have a problem with people saving money, though? All I am saying is that I wouldn't put my faith in a black-box calculator made by a guy who may have a reason to mislead people about the bill.
I'll take the CBO analysis over a random web page anyday.
Is this real? Trump already at 3% GDP? Or projected after the tax cuts?
>Trump is already at 3.3% GDP growth
The economy is. If you can demonstrate how Donald actually affected that increase, then he can have credit.
I went through college before it was a scam. Each undergraduate year nowadays is more than all four of what mine were.
As for grad students? wew. They get paid for what undergrads these days have to go into debt for.
This is the equivalent of "lalalala if I don't look at the numbers they're not true lalalala"
>the CBO refused to use my made up GDP growth numbers!!!!!
See, you have to understand that it's the Jews. Those freakish satanic talmudic monsters are behind all the money games.
If university was worth the money you'd learn about the Jews.
>Made up numbers
marketwatch.com
Are you fucking retarded?
GDP would have to be around 6-7% just to cover the huge tax break on corporations and loss of the estate tax
Are you fucking retarded?
Holy shit i thought you meant 3.3% GDP was the projected but we are AT 3.3% GDP growth. Incredible seriously. Wasn't Trump mocked for suggesting 3+% GDP growth?
Feasible.
forexlive.com
>In b4 "muh impossible there is no magic wand" Obamaesque comment
Sure buddy. Trump said it so it must be true, right?
Nah it isn't, you're just putting words in my mouth. All I am saying is that you should dig a little deeper before you trust some random webpage with "Tax Plan calculator" written on it.
But hey, that's on you. Clearly you really want to believe (Because that webpage generally gives rosy predictions), so go for it.
Wasted get on a retard who doesn't pay attention.
...
>Because that webpage generally gives rosy predictions
The calculator uses the exact rates and credits that exist in each tax bill. I don't see how this is so hard for you to grasp. It isn't "painting a rosy picture" it is simply plugging your numbers into a formula. It's a calculator. Show me where it was wrong on my calculation. $77,000 married filing jointly two kids standard deduction in Arizona
>The calculator uses the exact rates and credits that exist in each tax bill.
Allegedly, sure. The trouble is we don't really get to see how the calculator arrives at those numbers. It just does. Maybe it's using the correct rates and tax plan information and maybe it's not.
If you want the best general assessments based on tax bracket, marital status, property ownership and other factors, I'd say you should see what the CBO has put out rather than trusting some staffer for John Stossels show to give you the straight story.
dude, did you even investigate the site? snipped from the FAQ
NPR hasn't complained about it yet, so I assume it's close to the truth. All they do is kvetch about talking points.
>ESTIMATE
See, this is exactly the sort of shit I was suspecting.
I wasn't sure, but I was suspicious given the folks running the site, and big fuckin' surprise, they're bullshitting people by omitting and 'estimating'.
I don't live in a state with "local tax". Also that is the normal way to estimate sales taxes paid. Do you save every single receipt from every single purchase made throughout the entire year and than tally up the sales tax? Nobody does that. And to top it off, even if you were in a situation where you feel the estimate of "the current taxes paid under current law" is inaccurate, the calculator for the HOUSE and SENATE bills are still accurate anyway!
To top it all off, I take the STANDARD deduction. I do not itemize.
Again, show me where the math is wrong in the calculator for my example, $77k married jointly filing two kids standard deduction. The Senate bill saves me nearly 50% off my tax bill.
please refer your dumb ass to
Democrats:
>You personally will be taxed more
Person:
>Looks like here, I'll personally be taxed less
Paid Shill:
>wow my personal experience proves this is working
>guys, look at how well Obama did! All he had to do was create massive amounts of debt and line the pockets of wasteful government programs!
I
Do
Not
Itemize
How is that so hard to understand? Literally none of that applies to me.
Show me where the calculator is wrong about my example
$77k
Married filing jointly
Two kids
Standard deduction.
It saves me nearly half off my taxes.
>y-y-you are shill!
drumpfkin pls
Lets just wait and see whos right about this tax bill and not take a random website as a word of god
Okay then fuck the website, here's the raw numbers, tell me where there is an error:
$77,000 income married filing jointly two kids
SENATE PLAN MATH:
Standard deduction: $24,000
Taxable income is: $53,000
Tax rates
In $0 - $19050 bracket, you pay 10%. Cost: $1,905
From $19050 - $77400, 12%. Cost: $4,074
Tax credits
The family tax credit, for 2 children
and 0 other dependents, gives you $4,000
Total federal tax bill: $1,979
Versus current law:
"Personal exemption" deduction: $16,600
Your standard deduction is: $13,000
Your total deductions: $29,600
Your taxable income is: $47,400
Tax rates
In $0 - $19050 bracket, you pay 10%. Cost: $1,905
From $19050 - $77400, 15%. Cost: $4,252
Tax credits
The child credit, for 2 children, gives you $2,000
Total federal tax bill: $4,158
---
Where is it wrong?
Bump wanna see this answered
They can't answer it because the math is right there before their eyes