Video & Multimedia
In reply to the discussion: Why Many Americans Are Shocked by Their Trump Tax Refund [View all]dugog55
(296 posts)if you paid more taxes would be to fill out a 2017 1040 with your 2018 numbers. Then compare it to what the 2018 form taxed you. Taxable earnings would be the same for both forms, but the tax penalty may or may not be different when comparing the two. Most everyone got more money in their paycheck in 2018 to make it look like the tax cuts for the rich benefited everyone, but come tax time they may not have had enough withheld to warrant a refund.
I would think that people with high property taxes, mortgage interest, some student loans, and more than two children may have been stuck with a higher tax penalty. Other people claiming they got little or no refund just got it in their paycheck over the course of the year.
Either way, the great Trump Tax Cut bill was nothing but a giveaway to the already wealthy. There are reports corporations and wealthy donors are flooding the GOP with campaign funds to make sure the tax cuts stay in place. Also read that over 60 billion dollar companies have zero tax penalty and some are even receiving refunds after paying not taxes.
It will take a couple of years, but this tax cut is going to cripple the economy through higher taxes for the working class and cuts to every single program that enhances the lives of average Americans.