Koko78 Posted February 8, 2019 Share Posted February 8, 2019 2 minutes ago, Kevbeau said: I don’t believe half of the sob stories. The math just doesn’t make sense unless you have a mortgage that far outstrips any logical ability to pay it. Oh I'm sure that most of them are really that stupid. I have the feeling that these people are enthralled and inspired by stories about how someone paid off their debt in 3 years by making several hundred thousand dollars per year and actually paying their bills. 1 Link to comment Share on other sites More sharing options...
TakeYouToTasker Posted February 8, 2019 Share Posted February 8, 2019 6 hours ago, DC Tom said: I have that fight with my wife every year. "I don't understand why we never get a refund!" Because I plan it that way, to avoid giving the government an interest-free loan. This is my life exactly. Link to comment Share on other sites More sharing options...
Doc Brown Posted February 8, 2019 Share Posted February 8, 2019 9 hours ago, Foxx said: there is also the weekly adjustment to their take home pay to consider. for many Americans, their take home went up considerably. if they did not adjust their withholding status, then it is somewhat to be expected. Especially for those who itemized in previous years and didn't realize they had to switch to the standard deduction under the new tax law. They never bothered to change their W4 forms and now are confused on why they have to actually pay the IRS instead of receiving a refund. 1 Link to comment Share on other sites More sharing options...
row_33 Posted February 8, 2019 Share Posted February 8, 2019 1 hour ago, Doc Brown said: Especially for those who itemized in previous years and didn't realize they had to switch to the standard deduction under the new tax law. They never bothered to change their W4 forms and now are confused on why they have to actually pay the IRS instead of receiving a refund. I haven’t done complex tax work for five years now and hope people aren’t musing about the subject unless they have been trained in it and have a clue what they are talking about Link to comment Share on other sites More sharing options...
grinreaper Posted February 9, 2019 Share Posted February 9, 2019 A guy I know posted on Facebook that the tax breaks weren't really cuts because he switched jobs and now he doesn't get to deduct mileage. I think he used to get paid under a 1099 but now is an employee. I'm debating defriending him. 3rd Link to comment Share on other sites More sharing options...
Nanker Posted February 9, 2019 Share Posted February 9, 2019 (edited) On 2/5/2019 at 1:35 PM, keepthefaith said: Yeah what's that old joke about the 4 guys that go to a bar for beer every day and the richest among them picks up most of the tab until one day the rich guy decides he's done with that leaving the other 3 outraged how much they each now have to pay? Cartoon of that very thing here. Edited February 9, 2019 by Nanker 3 Link to comment Share on other sites More sharing options...
Tiberius Posted February 11, 2019 Share Posted February 11, 2019 Well, tax refunds are down. But don't worry, the super wealthy did get a big tax cut https://www.washingtonpost.com/business/2019/02/10/millions-americans-could-be-stunned-their-tax-refunds-shrink/?utm_term=.1158b34833d8 Link to comment Share on other sites More sharing options...
Foxx Posted February 11, 2019 Share Posted February 11, 2019 1 hour ago, Tiberius said: Well, tax refunds are down. But don't worry, the super wealthy did get a big tax cut https://www.washingtonpost.com/business/2019/02/10/millions-americans-could-be-stunned-their-tax-refunds-shrink/?utm_term=.1158b34833d8 that's because the weekly take home went up, you doofus. Link to comment Share on other sites More sharing options...
row_33 Posted February 11, 2019 Share Posted February 11, 2019 A refund is just returning the excess of what was clawed away from your pay and held by the government usually its $50 for me plus the credits for my donations and private pension contributions and tuition A refund is not earnings or a windfall Even with $50 as the base I paid usually 40 percent to taxes and remittances Link to comment Share on other sites More sharing options...
plenzmd1 Posted February 11, 2019 Share Posted February 11, 2019 15 minutes ago, Foxx said: that's because the weekly take home went up, you doofus. While that is true Foxx and intelligent people understand that, these are Trump voters who are upset and we know they are not the sharpest tools in the shed? Link to comment Share on other sites More sharing options...
row_33 Posted February 11, 2019 Share Posted February 11, 2019 1 minute ago, plenzmd1 said: While that is true Foxx and intelligent people understand that, these are Trump voters who are upset and we know they are not the sharpest tools in the shed? I did returns for a dozen years, almost all clients who had a refund of at least $3,500 were very very happy to sign the return it was worth it to them aesthetically Link to comment Share on other sites More sharing options...
Chandemonium Posted February 11, 2019 Share Posted February 11, 2019 3 minutes ago, plenzmd1 said: While that is true Foxx and intelligent people understand that, these are Trump voters who are upset and we know they are not the sharpest tools in the shed? There’s plenty of leftists on my Facebook feed complaining about how no refund is further proof that Trump hates poor people. Link to comment Share on other sites More sharing options...
row_33 Posted February 11, 2019 Share Posted February 11, 2019 Proving the huge diff between being mathematically correct and feeling good about a refund it’s how we live, thank goodness Link to comment Share on other sites More sharing options...
B-Man Posted February 11, 2019 Share Posted February 11, 2019 Take home pay has been higher because of tax reform & people paid less taxes in due to that So Refunds will be smaller This is called math It's also called not lending the govt $$$ interest free by withholding more just to get a refund But don't let that stop your demagoguing Link to comment Share on other sites More sharing options...
Buffalo_Gal Posted February 11, 2019 Share Posted February 11, 2019 After years of common core, you expect people to do math!? 1 1 Link to comment Share on other sites More sharing options...
keepthefaith Posted February 11, 2019 Share Posted February 11, 2019 (edited) 3 hours ago, Tiberius said: Well, tax refunds are down. But don't worry, the super wealthy did get a big tax cut https://www.washingtonpost.com/business/2019/02/10/millions-americans-could-be-stunned-their-tax-refunds-shrink/?utm_term=.1158b34833d8 You didn't watch the video above your last post? Take a look. It was produced for people like you and you can watch for free. Edited February 11, 2019 by keepthefaith Link to comment Share on other sites More sharing options...
Tiberius Posted February 12, 2019 Share Posted February 12, 2019 The Trump Bubble? Quote A record 7 million Americans are 90 days or more behind on their auto loan payments, the Federal Reserve Bank of New York reportedTuesday, even more than during the wake of the financial crisis. Economists warn that this is a red flag. Despite the strong economy and low unemployment rate, many Americans are struggling to pay their bills. “The substantial and growing number of distressed borrowers suggests that not all Americans have benefited from the strong labor market,” economists at the New York Fed wrote in a blog post. https://www.washingtonpost.com/business/2019/02/12/record-million-americans-are-months-behind-their-car-payments-red-flag-economy/?utm_term=.adbe92c8b9d9 Quote A car loan is typically the first payment people make because a vehicle is critical to getting to work, and someone can live in a car if all else fails. When car loan delinquencies rise, it is usually a sign of significant duress among low-income and working-class Americans. Link to comment Share on other sites More sharing options...
plenzmd1 Posted February 12, 2019 Share Posted February 12, 2019 ^^^^^ @Tiberius , the problem with that analysis is it is mostly in subprime lending where the problems and delinquencies lie. Carmax a few years ago was getting dinged in its earnings cause they could not figure out the subprime space as well. These are people who received loans, most likely at monster interest rates..who ain't really worried bout their credit rating cause their credit rating is shot anyway..Subprime lending is a B word, no matter what industry you are in 2 Link to comment Share on other sites More sharing options...
Kevbeau Posted February 12, 2019 Share Posted February 12, 2019 So the rate of delinquincy is lower...doesn’t tell the story they want, so they go to the absolute number. Now their graph does show that rate is increasing but it’s more to what plezmd1 is alluding to (in fact the article does call that out) than an overall statement on the state of the economy. Link to comment Share on other sites More sharing options...
row_33 Posted February 12, 2019 Share Posted February 12, 2019 The bear is still hibernating Link to comment Share on other sites More sharing options...
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