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Re: Image comments for Taxing taxes taxationally
Posted by: Mrkim
Date: 30/09/2020 03:27AM
What's similarly amazing is how the tax cuts President Trump signed into law which led to a direct increase in what every working American was able to bring home each week, bi-weekly, monthly or whatever. This of course meant there was less in taxes taken out every pay period.

The incredulousness comes in how once the year ended and individual and family tax returns were filed, peoples tax returns shrunk as well. Headlines rang out that tax return amounts under President Trump were less than before, claiming this was a sign of the failure of his tax cuts that would be fely in EVERY American home!

Of course the media manipulation of what was actually factual in all this was seldom questioned.

The reality of course was simply that since the taxes on everyone had been decreased so had the amount of any overpayment of whatever taxes were due at the end of the year. So naturally, and reasonably with less overall taxes having been taken out throughout the year there was similarly a smaller amount of over payment of the taxes due and hence the tax refunds as well were smaller than in the past.

Just me, but I'll take a lower tax rate being deducted from my checks all year accompanied by a similar decrease of over payment of my taxes through out the year every time.

The over payment of income taxes through the year is the same as an interest free loan to the government. People that bitch about that interest free loan being smaller than in the past obviously don't understand much about finances or govt (*facepalm*)

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