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Tax liability fell in 2018 for every single income group except millionaires.

Posted on 7/12/19 at 5:33 pm
Posted by HailHailtoMichigan!
Mission Viejo, CA
Member since Mar 2012
73351 posts
Posted on 7/12/19 at 5:33 pm


LINK

What this means is that the TCJA made the American income tax system even more progressive, refuting a key claim made by opponents of the law
Posted by jrodLSUke
Premium
Member since Jan 2011
25794 posts
Posted on 7/12/19 at 5:55 pm to
Media completely silent on this fact, primarily to allow Democrat Presidential candidates to continue a false narrative of tax breaks for the rich.
Posted by gthog61
Irving, TX
Member since Nov 2009
71001 posts
Posted on 7/12/19 at 5:57 pm to
I am too lazy to do the math but it looks like every percentage drop from group to group left to right gets smaller as the income gets bigger.

Democrats are filthy liars and their supporters are stupid.
Posted by jacob4bama
KY
Member since Nov 2010
262 posts
Posted on 7/12/19 at 6:09 pm to
I would guess it is because they are making more money.
Posted by bfniii
Member since Nov 2005
17840 posts
Posted on 7/12/19 at 6:53 pm to
you people are monsters. the rich aren't paying their fair share. being a minority in this country is a health hazard. du told me so.
Posted by LSU2ALA
Member since Jul 2018
2062 posts
Posted on 7/12/19 at 7:05 pm to
Does this include capital gains? It says tots tax liability so I would think it would. If not, I could see that being a counterpoint. If it does and assuming it is accurate, then this is not what I expected. I would like to hear counters of why it’s not correct, but this is very interesting.
Posted by UnitedFruitCompany
Bay Area
Member since Nov 2018
3895 posts
Posted on 7/12/19 at 7:12 pm to
Not if you are a professional who makes his money on services. Dont know a single dr, accountant, or lawyer who's taxes went down last year. In fact, most went up a % or two.
Posted by Loserman
Member since Sep 2007
23061 posts
Posted on 7/12/19 at 7:15 pm to
This isn’t true

Tax federal tax liability also increased for the coastal blue states who were allowing their state property tax paid to be deducted from federal income tax




Edit: of course it only effected the blue state frickers whose property was valued above 500k

Funny thing is the coastal frickers property/homes cost about twice what the rest of America pays for the exact same property

This post was edited on 7/12/19 at 7:20 pm
Posted by BearsFan
Member since Mar 2016
1286 posts
Posted on 7/12/19 at 7:17 pm to
A "millionaire" ISN'T someone who makes $1+ million a year....
Posted by Loserman
Member since Sep 2007
23061 posts
Posted on 7/12/19 at 7:30 pm to
quote:

A "millionaire" ISN'T someone who makes $1+ million a year....




Depends

On who is considering on what is a millionaire

The general public would consider a person a millionaire if they had assets worth a million + and they can maintain those assets while still otherwise living an upper middle class lifestyle

Democrats for shame and tax purposes would consider someone in the middle middle class as being a millionaire
Posted by WestSideTiger
Baton Rouge
Member since Jan 2004
4979 posts
Posted on 7/12/19 at 7:35 pm to
A "millionaire" ISN'T necessarily someone who makes $1+ million a year...

But I think you know what he means.
Posted by CDawson
Louisiana
Member since Dec 2017
19545 posts
Posted on 7/12/19 at 7:35 pm to
I hate when my tax liability doesn’t fall.

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