Anyone doing the math on their yuge Christmas Gift...?

Based on the latest brackets and information on the bill, I will see 34 bucks a paycheck in lower taxes or about 820 bucks a year. That's a 2.8% reduction in federal income tax.

So what am I supposed to do with 68 bucks a month? I'm not going to spend it. I have no need to spend it on anything. Plus, 68 bucks a month doesn't buy much but cheap junk as it is. I don't need 68 dollars more in food or clothing or any other "necessities."

Rhetoric aside, is anyone really convinced this will do anything for working families? Don't tell me my pay will go up with corporate tax cuts. No one pays more because they have more money to spend. Anyone saying that is fooling themselves or a liar. And the vast majority of economists agree on that.

 

Those of us at the upper levels of "middle class" won't see as much.

From what I understand it's those under $72k that will be getting the most back, unless they live in the housing subsidized states of NY, CA and NJ of course.

 

I will be paying about 12.5% lower taxes, or $215/month.

 

Ammo. AR lowers.

 

No, you are too poor to receive much of a benefit. The people in the top 1% will be earning about 83% of the tax benefit.

 

In raw numbers. Duh.
How about in terms of % reduction in tax burden?

 

Since the top 1% pay 90% of the federal taxes I'd say that makes sense.

 

The top 1% are obtaining the most benefit, regardless of whether you want to use % or raw.

 

Not if you are trying to sell this as a benefit for the middle class.

There's a reason this bill is the 2nd least popular in the last 30 years and support is decreasing.

 

Prove this to be true.

 

Yes -- liberals oppose anything that results in less power for the state.

 

Sure.

Meanwhile democrats whine because people with $750,000 houses are going to "suffer".

 

Send me your $68 bucks/month and you will be back to square one and happy again.

 

The middle class does benefit.

A % of a smaller number is a smaller amount. Do math.

 

....are you seriously trying to pull the "liberals hate states rights" arguments on a bill that actually decimates a state's rights issue?

 

More than 50% of Americans will pay more so that the top 1% can earn 83% of the benefit.

 

No.

Rich people in CA, NY, and NJ with $750,000 homes will finally be paying their fair share of federal taxes.

Why are you defending the rich?

 

If you pay attention to the context of my statement, you'll answer you own question.
Hint: Federal income tax and the federal power derived from same as nothing to do with states' rights.

 

You cannot prove this to be true.

 

Feel free to donate that extra 68 dollars you don't want back to the Government. They have a website set up specifically for people who want to pay extra in taxes. Funny how few liberals actually volunteer, though. It's almost like they are flaming hypocrites or something.

 

Can not understand the Op, complaining about keeping his/her money. Reminds me of the fellow who complained about a free 100 dollar bill being wrinkled.

The art of money is keeping it, then making it work for you.......every penny counts regardless of income.

 

Not even remotely true.

They are complaining because the GOP is removing one of the primary benefits from owning a house and depriving states across the country from a prominent revenue source.

 

Well... that will be :"compensated" by how much the buying power of your pay check will decrease as the deficit increases. That will certainly set you back with much more than (the equivalent after inflation of) $68

 

Have you looked at the numbers? Do we benefit in California?

 

Tax Policy Center Analysis: http://www.taxpolicycenter.org/publ...is-conference-agreement-tax-cuts-and-jobs-act

Headline: 53% will pay more and 82.8% of the benefit will go to the top 1%.