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HailHailtoMichigan!
LSU Fan
Trabuco Canyon, CA
Member since Mar 2012
53219 posts
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Tax liability fell in 2018 for every single income group except millionaires.


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


jrodLSUke
LSU Fan
Tigerdroppings Premium
Member since Jan 2011
14435 posts

re: Tax liability fell in 2018 for every single income group except millionaires.
Media completely silent on this fact, primarily to allow Democrat Presidential candidates to continue a false narrative of tax breaks for the rich.


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80
gthog61
Georgia Tech Fan
Irving, TX
Member since Nov 2009
44375 posts

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


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150
jacob4bama
Alabama Fan
KY
Member since Nov 2010
244 posts

re: Tax liability fell in 2018 for every single income group except millionaires.
I would guess it is because they are making more money.


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bfniii
LSU Fan
Member since Nov 2005
12830 posts

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


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LSU2ALA
Member since Jul 2018
207 posts

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


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UnitedFruitCompany
Stanford Fan
Bay Area
Member since Nov 2018
743 posts
 Online 

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


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Loserman
LSU Fan
Member since Sep 2007
15444 posts

re: Tax liability fell in 2018 for every single income group except millionaires.
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 at 7:20 pm


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BearsFan
Baylor Fan
Member since Mar 2016
639 posts

re: Tax liability fell in 2018 for every single income group except millionaires.
A "millionaire" ISN'T someone who makes $1+ million a year....


Loserman
LSU Fan
Member since Sep 2007
15444 posts

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


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WestSideTiger
LSU Fan
Baton Rouge
Member since Jan 2004
1204 posts

re: Tax liability fell in 2018 for every single income group except millionaires.
A "millionaire" ISN'T necessarily someone who makes $1+ million a year...

But I think you know what he means.


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CDawson
LSU Fan
Baton Rouge
Member since Dec 2017
3450 posts

re: Tax liability fell in 2018 for every single income group except millionaires.
I hate when my tax liability doesn’t fall.



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