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Trump's tax scam
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Old 02-05-2019, 01:44 AM
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MadMike MadMike is offline
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Default Trump's tax scam

If anyone here is friends with me on Facebook, you already know about this. My wife and I got our taxes done on Friday. We have our W4's set up so that we get a nice tax refund every year, and the fact that we have mortgage interest and property taxes to deduct also helps. Last year we got back a little over $5000. In previous years, we've gotten back between $5000 and $6000. So imagine our surprise, shock, and disgust when we found out we're only getting back $700 this time.

Yeah, Trump screwed us big time. I knew our refund would be smaller, if for no other reason than we were getting a little back in our paychecks, which was obviously a pathetic attempt to make it look like we were getting more money, but never in my worst nightmares did I think it would be this bad. I haven't received a refund this small since before we were homeowners. Neither of us changed any of our info, and neither of us have had any significant change in our salaries.

I try not to be a sucky customer, and I know it wasn't the preparer's fault, but when I first saw what we were getting, I blurted out "That's it?" without thinking, and may have also followed it up with "Fucking Trump!" I feel bad for them. While I try not to "kill the messenger", so to speak, I know other people aren't as nice.

My wife posted about it on Twitter, and she's gotten a ton of responses from people who got screwed as badly as we did, and some of them even worse. People who never owed before are now having to pay hundreds, even thousands. And now all kinds of stories about people having the same experiences are popping up. I heard from some small business owners who may not be able to stay in business now. So much for the GOP supposedly watching out for small businesses.

I don't hide the fact that I despise Trump. Some of his supporters like to ask, "What has Trump done to you personally?" Well, it's personal now! I really hope he doesn't get re-elected after this.
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Old 02-05-2019, 01:51 AM
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Greenday Greenday is offline
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Yea, I'm expecting to owe now. In NJ, property taxes tend to be well above the new $10k limit which means most of the state is getting screwed over.
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Old 02-05-2019, 06:45 AM
Canarr Canarr is offline
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Does it say more about Trump or more about me that the headline immediately made me think that HE had perpetuated some kind of scam on his taxes?

Unfortunately, I'm not well-versed on the US tax system. Could someone please post a short overview of the problem?
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Old 02-05-2019, 05:05 PM
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Quote:
Originally Posted by Canarr View Post
Unfortunately, I'm not well-versed on the US tax system.
That's the problem -- pretty much nobody is. The U.S. Tax Code is ridiculously complicated, and it seems that as soon as someone starts to figure it out, they change the whole thing.
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Old 02-05-2019, 09:25 PM
Canarr Canarr is offline
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Well, at least that seems familiar...
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Old 02-06-2019, 12:32 AM
protege protege is offline
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Quote:
Originally Posted by MadMike View Post
The U.S. Tax Code is ridiculously complicated, and it seems that as soon as someone starts to figure it out, they change the whole thing.
There's a reason for that. They don't want the American public to realize just how badly we're getting fucked. I've been doing my own taxes since before I started working full-time. Unless you're an accountant, trying to take advantage of the various loopholes and deductions is a pain in the ass. There's absolutely NO reason why our tax code is such a bloated mess--other than what I said before. It could easily be streamlined to a simple "Did you make money?" If yes, you owe us this percentage. If you've had things taken out during the year, you owe us the remainder. If you've paid too much, you get that back." Simple, to the point, and wouldn't require an army of IRS douchebags to deal with.
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Old 02-06-2019, 12:00 PM
Daskinor Daskinor is offline
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Quote:
Originally Posted by protege View Post
There's a reason for that. They don't want the American public to realize just how badly we're getting fucked. I've been doing my own taxes since before I started working full-time. Unless you're an accountant, trying to take advantage of the various loopholes and deductions is a pain in the ass. There's absolutely NO reason why our tax code is such a bloated mess--other than what I said before. It could easily be streamlined to a simple "Did you make money?" If yes, you owe us this percentage. If you've had things taken out during the year, you owe us the remainder. If you've paid too much, you get that back." Simple, to the point, and wouldn't require an army of IRS douchebags to deal with.
I doubt its malice when good old fashion incompetence can be blamed. We have in this country a bad habit of subsidizing behaviors using taxes. Buy this or do that for a tax break. But you can not combine this or that and there are these different limits based on factors........ la la la now I have gone cross-eyed.
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Old 02-06-2019, 01:35 PM
HEMI6point1 HEMI6point1 is offline
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It happened to my dad's friend. Before the Trump tax cuts he was getting over 2 grand. When he went for his taxes this time he got less than $700. He was furious!

I also took a hit on my refund this year. It was not as bad as I expected, but it didn't make sense either considering that I didn't see any real difference in my paychecks either.
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