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Political Threads This section is for Political Threads - Enter at your own risk. If you say you don't want to see what someone posts - don't read it :hihi:

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Old 01-31-2018, 12:32 PM   #1
Jim in CT
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Impact of GOP tax overhaul

Got my first paycheck with the new tax rates. Net take-home pay increased, and the difference isn't "pathetic crumbs". It's not going to change my life, it isn't going to pay for a beach house on Martha's Vineyard. But it will cover the monthly payments on the little camper I just bought.

Not life-changing. But a noticeable impact. Plus, my employer can keep a larger percentage of our income, therefore my job is a little more secure than it was before, layoffs will be a bit less likely.

Good stuff, no?
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Old 01-31-2018, 01:22 PM   #2
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How dare you be happy about keeping more of your money, you selfish bastard

"If you're arguing with an idiot, make sure he isn't doing the same thing."
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Old 01-31-2018, 01:59 PM   #3
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How dare you be happy about keeping more of your money, you selfish bastard
How do you know it's not going to even out when he files next year? They're gooseing the withholdings so people think they're getting more.
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Old 01-31-2018, 02:06 PM   #4
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Proof, LBJ was right

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Old 01-31-2018, 02:06 PM   #5
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Also, I didn't think the new withholding would even be in effect until next month. Jim probably got a little pay bump that took effect Jan 1 he's seeing.
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Old 01-31-2018, 02:20 PM   #6
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Iíve been seeing around $50 more each week for 3 weeks now.
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Old 01-31-2018, 02:45 PM   #7
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How do you know it's not going to even out when he files next year? They're gooseing the withholdings so people think they're getting more.
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Maybe you and the rest of the liberals would be happy had Hillary won and we got less take home pay, more more taxes, more regulations on business, more forced health care cost to pay for the illegals & deadbeats.....
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Old 01-31-2018, 03:51 PM   #8
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Also, I didn't think the new withholding would even be in effect until next month. Jim probably got a little pay bump that took effect Jan 1 he's seeing.
Sadly not a raise. We were told by HR it was the effect of tax rates. I was told (could be wrong) that companies had to have the new rates into payroll systems by next month, but could do it earlier...
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Old 01-31-2018, 04:48 PM   #9
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Sadly not a raise. We were told by HR it was the effect of tax rates. I was told (could be wrong) that companies had to have the new rates into payroll systems by next month, but could do it earlier...
The new withholding tables were just made available on the 11th I believe. If you're paid in the arrears like most salary folk your finance department must have lightening skills.
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Old 01-31-2018, 07:43 PM   #10
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A lot of big companies had anticipated the tax overhaul correctly and made their adjustments ahead of time.
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Old 01-31-2018, 08:06 PM   #11
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The new withholding tables were just made available on the 11th I believe. If you're paid in the arrears like most salary folk your finance department must have lightening skills.
Not to demean their lightning skills, isnít it changing a couple of numbers in a table? In any event, it is what it is. A big enough net bump to pay for a small camper that we will love for many years. My entire congressional delegation voted against it. Along them from the peopleís republic of connecticut voted against it
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Old 02-01-2018, 12:45 PM   #12
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Proof, LBJ was right
No, he wasn't. I'm not paranoid about anyone else taking my stuff. I'm happy about keeping a bit more of my pay.

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How dare you be happy about keeping more of your money, you selfish bastard
Selfish to the core.

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How do you know it's not going to even out when he files next year? They're gooseing the withholdings so people think they're getting more.
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I have the same number of exemptions on my W-4 as I had 2 weeks ago. They lowered some tax rates. That can lower your withholding, without screwing your return next April.

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A lot of big companies had anticipated the tax overhaul correctly and made their adjustments ahead of time.
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I work for Liberty Mutual now, we were told by HR that our pay would reflect the new rates.

I hope everyone here fares even better than I did, and therefore has it just a tiny bit easier this year than they had it last year.
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Old 02-01-2018, 01:21 PM   #13
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I have the same number of exemptions on my W-4 as I had 2 weeks ago. They lowered some tax rates. That can lower your withholding, without screwing your return next April.
That depends on how your taxes are structured. I itemize so the SALT cap and elimination of personal exemptions could be problematic when I file next year...Not sure if the lower rates will offset what I'm losing in deductions.
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Old 02-01-2018, 01:39 PM   #14
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...Not sure if the lower rates will offset what I'm losing in deductions.
For me, the lower rates would not fully offset the ability to fully deduct SALT (I itemize too). But what pushes this into the 'win' column for me, is the greatly expanded childcare credits. Higher credits for each kid (I think), and higher incomes before they phase out - I have 3 kids. This, combined with the lower rates, will mean my net pay increases. No thanks to any of the congressional delegation in Connecticut.
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Old 02-01-2018, 01:46 PM   #15
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My days of itemizing are coming to an end. 1 kid just finished college, the other has 1 year left. I'm getting to the tail end of my mortgage. Just the doubling of the Standard deduction helps me out.

"If you're arguing with an idiot, make sure he isn't doing the same thing."
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Old 02-01-2018, 02:13 PM   #16
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My days of itemizing are coming to an end. 1 kid just finished college, the other has 1 year left. I'm getting to the tail end of my mortgage. Just the doubling of the Standard deduction helps me out.
Hey, I looked up that BBQ restaurant you suggested in Greensboro, my wife put it in her phone, we will go, probably more than once. Thanks on both my behalf and hers, that was thoughtful of you.
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Old 02-01-2018, 03:07 PM   #17
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When it comes to food and beer, I'm always helpful

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Old 02-02-2018, 10:00 AM   #18
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UPS made $1.5 billion more in 2017 than the year before. Brown says it will cash in even more in 2018, predicting profits of up to $6.5 billion.

UPS stock prices are up by 20 percent over the last year. Package revenue is up to $65.9 billion. UPS Freight added another $3 billion in revenue, a 10% improvement.

As icing on the cake, UPS is expected to cash in over $1 billion in corporate tax cuts.

But at the negotiating table, UPS is trying to soak the 260,000 Teamsters at UPS and UPS Freight.

The company is demanding givebacks, including a lower rate of pay for package drivers on residential routes, part-time package drivers for weekend deliveries, increased subcontracting, a reduction in guaranteed weekly hours for part-timers and many other concessions.

I am not surprised
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Old 02-02-2018, 10:10 AM   #19
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The recent tax cuts have finally effected me. They are so awesome that my land lord has decided that it makes a lot of sense to sell his property and as a result of that, heís making me move my glass studio. Iíve been here for 17 Years... over 1/3rd of my life.
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Old 02-02-2018, 11:32 AM   #20
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The recent tax cuts have finally effected me. They are so awesome that my land lord has decided that it makes a lot of sense to sell his property and as a result of that, heís making me move my glass studio. Iíve been here for 17 Years... over 1/3rd of my life.
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Hows the search going?

Bryan

Originally Posted by #^&#^&#^&#^&#^&#^&#^&#^&#^&#^&#^&
"For once I agree with Spence. UGH. I just hope I don't get the urge to go start buying armani suits to wear in my shop"
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Old 02-02-2018, 12:01 PM   #21
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Hows the search going?
Not having much luck
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Old 02-02-2018, 12:25 PM   #22
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Move to Vermont and buy your own building

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Old 02-02-2018, 01:08 PM   #23
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Move to Vermont and buy your own building
I love VT. But I canít leave my kid behind. Or the ocean.
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Old 02-02-2018, 02:22 PM   #24
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I love VT. But I can’t leave my kid behind. Or the ocean.
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Slide down my way. Bet there is a spot near Canal St (near Grey Sail) :-)

Bryan

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"For once I agree with Spence. UGH. I just hope I don't get the urge to go start buying armani suits to wear in my shop"
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Old 02-02-2018, 03:33 PM   #25
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Sorry to hear Nebe
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Old 02-04-2018, 08:50 AM   #26
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This is funny not really but shows how out of touch some people are
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Old 02-04-2018, 09:13 AM   #27
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This is funny not really but shows how out of touch some people are
Well, fortunately people like this rarely get into positions of authority.
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Old 02-04-2018, 11:12 AM   #28
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This is funny not really but shows how out of touch some people are
Not enough information. Is she part-time? Is her base salary low? etc. My first checks netted me $21.75 per week. And I am in the lower middle class income range. And I expect even greater gains at tax time due to the doubling of the standard deduction.

I must be out of touch.
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Old 02-04-2018, 11:17 AM   #29
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This is funny not really but shows how out of touch some people are
If ryan tweeted that, itís idiotic, though if she said sheís happy, thatís what matters. Wdmso, Apple is paying a 38 billion dollar tax on bringing back 250 billion in cash. Apple announced 20,000 new jobs. Exxon and Comcast each announced tens of billions in infrastructure investment. Does any of that matter? Isnít it good for your union if the private sector expands its tax base?
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Old 02-04-2018, 11:19 AM   #30
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Not enough information. Is she part-time? Is her base salary low? etc. My first checks netted me $21.75 per week. And I am in the lower middle class income range. And I expect even greater gains at tax time due to the doubling of the standard deduction.

I must be out of touch.
Thatís true you have to account for the increase in net takehome pay, as well as the effect of doubling the standard deduction and increasing child tax credits. But we arenít supposed to talk about things that make the gop plan look like itís helping, are we?
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