Armed Polite Society
Main Forums => Politics => Topic started by: Scout26 on February 01, 2018, 06:37:55 PM
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I have had a good 10 maybe 12 people come into do their taxes that have received what is being called "Trump Bonuses" (Their words, not mine) from as little as $100 to one guy that got more than $32,000.00. Yep, manager at a Metals Finishing plant. Said work has been just crazy for the last year. (He already made $16,000 more in 2017 than 2016, because of overtime and a raise). His department went from 6-7 people to 20 in this last year and they still have more work then they can handle. He got the $32,000 check they day he came in to do his taxes. (They gave out the W-2's and bonus checks the same day (well night, as he works night shift.)
Quite a few others are talking about how they got raises after the first of the year. Something that has not happened to them in 3, 4, 5 or more years. Even those that work at what could be called "Mom & Pop" stores.
Everyone, though is reporting that their job/work is "Busy or Busier".
We also go over tax planning for 2018 given the changes. I cover how there take home will go up given the reduced rates. So they got a raise and not will get even more money in their paychecks. Most people are surprised to see that their taxes will go down (and many cases significantly) with standard exemption change. Many are still (just) under $10,000 in SALT, so there's no impact there. The only people bitching are......
My boss, the owner. He recently bought a larger house, he has 4 kids, so he's taking a big hit with his SALT capped at $10,000, and the loss of exemptions. He MF's Donald Trump at just about every turn. The fun ones are the foaming-at-the-mouth lefties, showing them how their pay goes and tax burden goes down and watching their heads explode. I have pointed out to them, that they are free to write checks to the US Treasury if they still want to pay at the older pre-Trump rates. :angel: :angel: Meanwhile, most of the rest of our customers say either "I'm so glad I voted for him." or "I wish I would have voted him." This being suburban Cook county, it is somewhat Republican leaning.
And the best part of all of this, I do this as a completely neutral "Here's how Tax Reform will affect you and your situation. We don't have the finalized rules but we do know this..."
=D =D =D =D =D =D
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We got a raise. Ostensibly "comparing our pay to other Cat and equipment dealerships and raising pay for retention purposes" but I suspect it's directly related to tax cuts...considering we haven't had such a comparison/raise in the four years I've worked there.
We are also very busy. We are experiencing the general mechanic shortage that is affecting everybody (not that I'm complaining...the more valuable I am the better my pay)
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Since I'm retired, no raises. My pension is locked, though it did go up when they deposited it today by $50.00 because the withholding tables changed. My CPA who does my taxes included a page to show what my taxes/refund would be for 2018 if our income and withholding was the same. I try and make sure I don't have a refund because I don't like loaning the goobermint money for free. Anywho, my taxes would decrease by around $1500.00+ dollars.
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Anywho, my taxes would decrease by around $1500.00+ dollars.
Pfft. Crumbs. You can't even buy a Prius for that.
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Since I'm retired, no raises. My pension is locked, though it did go up when they deposited it today by $50.00 because the withholding tables changed. My CPA who does my taxes included a page to show what my taxes/refund would be for 2018 if our income and withholding was the same. I try and make sure I don't have a refund because I don't like loaning the goobermint money for free. Anywho, my taxes would decrease by around $1500.00+ dollars.
You must be in the Nancy Pelosi/Joe Kennedy 1%.
Evil Oppressor.
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I got my Trump bonus in December.
After taxes it was enough to cover my annual property taxes.
=D
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Pfft. Crumbs. You can't even buy a Prius for that.
Go home, Nancy. You're drunk.
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Got my first paycheck under the new rules. Up just shy of $80. I like my crumbs.
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I'm going to have to figure mine out. I'd missed a shift differential code on one of my time sheets and it skewed everything.
Preliminary looks to be about $40 less in taxes for a 2 week pay period.
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I just plowed about half of that back into my 401K by increasing my withholding 1%.
When I finally get out from under all of the expenses that my Mom saddled me with in her estate and get caught up on what I have outstanding I'm going to push my annual withholding back around 25%.
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I received a slight paycheck bump with the new withholdings rate.
Like Mike, I used it to bump my retirement savings.
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Awesome news!
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Huh. No change here as of my paycheck this morning.
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Our company just revised the tax withholding also. Got $100 or more bump.
IMO, a reason Republicans should be safe this fall if they don't screw it up. Getting more money in your paycheck is a very personal benefit that is hard for Dems to explain away. I don't necessarily disagree with some of you that many in the Republican leadership are stupid, but leadership of the Democrats right now is just as stupid if not more so.
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Go home, Nancy. You're drunk.
=D
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"Getting more money in your paycheck is a very personal benefit that is hard for Dems to explain away."
But they did! Nancy did! It's just crumbs that mean nothing to REAL Americans*!
* Those are the ones who believe that government should give them all of the free *expletive deleted*it they want, all paid for with government money harvested from the magical money trees.
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Our company just revised the tax withholding also. Got $100 or more bump.
IMO, a reason Republicans should be safe this fall if they don't screw it up. Getting more money in your paycheck is a very personal benefit that is hard for Dems to explain away. I don't necessarily disagree with some of you that many in the Republican leadership are stupid, but leadership of the Democrats right now is just as stupid if not more so.
So have the Democrats started negotiating with Republicans for the trademark rights to Stupid PartyTM?
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* Those are the ones who believe that government should give them all of the free *expletive deleted*it they want, all paid for with government money harvested from the magical money trees.
Also those liberal elites who think $8 for a cup of coffee every morning is chump change, and that everyone shops at Whole Foods. When you don't understand that what you spend on luxuries in a single day is what some people use for the whole week, then I guess it's easy to look at a thousand ducats as "crumbs".
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Look like I get to keep an extra $200ish a month now. Just crumbs though. ;/
Actually I might use some of those crumbs to buy a new motorcycle, it’s been probably 20 years since I sold the one I had and I’ve been thinking about getting a new one.
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Among other things, we've noticed my wife has been getting a lot more interest in dance lessons. I'm betting the increase in disposable income has many women looking for leisure activities they had forgone previously.
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Look like I get to keep an extra $200ish a month now. Just crumbs though. ;/
Actually I might use some of those crumbs to buy a new motorcycle, it’s been probably 20 years since I sold the one I had and I’ve been thinking about getting a new one.
What What WHAT???
YOU WEALTH MONGERING BASTARD! YOU SHOULD BE GIVING THAT MONEY TO DEMOCRAT CAUSES THAT HELP THE POOR (Democrats)! YOU'RE JUST ANOTHER HEARTLESS WEALTH SUCKING DEPLORABLE TRUMP SUPPORTER!
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My take home pay went down :'(
by $0.01
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My take home pay went down :'(
by $0.01
Now that's a crumb.
Sorry to see that you'll be joining the Pelosi Army because she was right...
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Wife got paid yesterday, check was up about 60 bucks. Next week is when I'll get to see what it did to mine.
I approve of this.
Sent from my Pixel XL using Tapatalk
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What What WHAT???
YOU WEALTH MONGERING BASTARD! YOU SHOULD BE GIVING THAT MONEY TO DEMOCRAT CAUSES THAT HELP THE POOR (Democrats)! YOU'RE JUST ANOTHER HEARTLESS WEALTH SUCKING DEPLORABLE TRUMP SUPPORTER!
Hey. I resemble that remark!
They are still getting enough taxes from me to fund all sorts of nonsense. I’m not feeling even a little bit sorry about keeping more of the money I earned.
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Got my first paycheck under the new rules. Up just shy of $80. I like my crumbs.
HA! $84.64 here! SUCK IT, I GOT 5% more! [ar15] :rofl:
I didn't think ours was kicking in before February, but looking at December vs. January, looks like we did get a bump. An extra $1000 per year is very nice.
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All you evil 1% oppressing, privileged, xenophobic, racist can buy me lunch....
=D =D =D =D
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All you evil 1% oppressing, privileged, xenophobic, racist can buy me lunch....
=D =D =D =D
I prefer to be more concise and just say 'cis white shitlords'; says all of the above but saves valuable time that could be used in recreational pursuits.
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My employer drove past my place and threw a gold bar through the window, it hit and killed my cat.
Damn you, Trump!
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My employer drove past my place and threw a gold bar through the window, it hit and killed my cat.
Damn you, Trump!
:rofl:
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Anyone hearing anything from the Dems about yesterday "prooving" that Trump's tax plan is bad for the economy and that's why the markets collapsed?
If not, I'm sure that we will very soon.
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Anyone hearing anything from the Dems about yesterday "prooving" that Trump's tax plan is bad for the economy and that's why the markets collapsed?
If not, I'm sure that we will very soon.
Ok... 666.XX points is lots, but from @26,000 it really isn't a "COLLAPSE."
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Ok... 666.XX points is lots, but from @26,000 it really isn't a "COLLAPSE."
At 10K, it would be a collapse (and I'd be hocking stuff and selling blood to invest every penny I could). At 26K, it's a correction or blip.
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Ok... 666.XX points is lots, but from @26,000 it really isn't a "COLLAPSE."
It is if you're a Democrat desperate to spin it any way you can so that Republicans and Trump suck and are destroying your personal economy.
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It is if you're a Democrat desperate to spin it any way you can so that Republicans and Trump suck and are destroying your personal economy.
Yea...well, if I ever turn into a desperate democrat.... please shoot me. :police:
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Anyone hearing anything from the Dems about yesterday "prooving" that Trump's tax plan is bad for the economy and that's why the markets collapsed?
If not, I'm sure that we will very soon.
The only political explanation I've heard was that it was connected to the release of the much-ballyhooed Memo.
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Adjusted the W4 from 11 to 13 which added $46 to my last paycheck. Next one (Feb 9) will include the new rates. We shall see. According to a couple online tax apps I should only owe $600-1000 for 2018, so I may adjust the W4 again depending on what withholding looks like.
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Keep in mind that exemptions for kids go away in 2018.
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Yep. Took that into account. Child tax credit also doubled.
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(https://i.imgur.com/m5OS1Zm.jpg)
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Keep in mind that exemptions for kids go away in 2018.
:rofl: :rofl: :rofl: :rofl: :rofl:
Money grubbing harpy took the kid's tax status for her every year.
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:rofl: :rofl: :rofl: :rofl: :rofl:
Money grubbing harpy took the kid's tax status for her every year.
So did mine. But he turns 18 in Nov 2018, so she doesn't get it anymore. Oh, the other fun thing. My ex pays me maintenance (formerly know as "alimony"). That's no longer an income adjustment for her, nor taxable to me.
:rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl:
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I got a nice little bump in my last paycheck. I think I'd have an easier time enjoying it if my kid wasn't gonna have to pay for it though. =(
The government plans to borrow nearly $1 trillion this fiscal year, an 84 percent increase compared to the previous fiscal year (https://www.theblaze.com/news/2018/02/04/government-plans-to-borrow-1-trillion-some-say-to-offset-new-tax-law-this-fiscal-year)
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I got a nice little bump in my last paycheck. I think I'd have an easier time enjoying it if my kid wasn't gonna have to pay for it though. =(
The government plans to borrow nearly $1 trillion this fiscal year, an 84 percent increase compared to the previous fiscal year (https://www.theblaze.com/news/2018/02/04/government-plans-to-borrow-1-trillion-some-say-to-offset-new-tax-law-this-fiscal-year)
Yes, let's keep giving as much money to the government as possible, so they can responsibly pay down the debt. It worked last time.
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I got a nice little bump in my last paycheck. I think I'd have an easier time enjoying it if my kid wasn't gonna have to pay for it though. =(
The government plans to borrow nearly $1 trillion this fiscal year, an 84 percent increase compared to the previous fiscal year (https://www.theblaze.com/news/2018/02/04/government-plans-to-borrow-1-trillion-some-say-to-offset-new-tax-law-this-fiscal-year)
I agree with you. Cutting taxes without cutting spending at this point doesn't seem reasonable. Unfortunately, if the gov were to cut one cent, they would be damned for trying to starve little children to death. So the Republican party apparently has given up even pretending to care about the deficit.
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they can responsibly pay down the debt
Who said anything about paying down the debt?!? I'd be happy with eliminating the deficit, or heck just reducing it.
But nope! There's one thing everyone can agree on: MORE SPENDING (https://www.redstate.com/prevaila/2018/02/07/breaking-senate-reaches-bi-partisan-budget-deal/).
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The only political explanation I've heard was that it was connected to the release of the much-ballyhooed Memo.
Or Janet Yellen seriously whacking Wells-Fargo (which is a component of the Dow).
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Yellen's bitter comments on her way out the door sure didn't help.
It's my opinion that Trump's biggest mistake upon taking office was that he didn't do a thorough enough house cleaning. He should have kicked every one of Obama's appointees to the curb and put his own people in.
2nd biggest mistake was listening to whoever told him to appoint GOP establishment people like Rance Priebus to his admin.
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The only political explanation I've heard was that it was connected to the release of the much-ballyhooed Memo.
The memo was part of it, but it was much deeper than that... there were jitters about interest rates, about the government possibly shutting down again, and quite a few other indicators that all ganged up to make people very, very nervous.
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Who said anything about paying down the debt?!? I'd be happy with eliminating the deficit, or heck just reducing it.
But nope! There's one thing everyone can agree on: MORE SPENDING (https://www.redstate.com/prevaila/2018/02/07/breaking-senate-reaches-bi-partisan-budget-deal/).
Reducing the deficit doesn't help much ... it's still a deficit. Any deficit at all means the .gov spends more than it earns, which increases the debt. And what's needed is to eliminate (or, at least, significantly reduce) the debt. The problem is the debt -- the deficit is just the way we get (and increase) the debt.
What the .gov is doing is effectively the same thing as if every month instead of paying the balance due on your Visa card you only make the minimum payment. Do that, and it won't be long before that balance grows to a level you don't even dare look at.
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The first step for someone buried in credit card debt is to balance their budget. Stop increasing that debt. It certainly does need to be paid down eventually but first you have to stop making it bigger and bigger. You can't go straight from 5th gear into reverse.
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I just got my $500 ‘Trump bonus’ on Friday. Also, my take home pay went up by about $80 starting with my check 2 weeks ago...
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Crumbs.
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These crumbs may well cause the blue wave to be an ebb tide for Dems. (http://thehill.com/opinion/finance/374817-soaring-economic-optimism-can-torpedo-dems-blue-wave-midterms)
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Pfft. Crumbs. You can't even buy a Prius for that.
You can buy a spot on Elio's BS list and still have $500 left over for your lawyer.
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Nancy Pelosi is apparently doubling down on her anti-tax cut rhetoric with a 100 city tour.
Meanwhile, now over 50% of Americans favor the tax cuts.
The first couple of minutes are here: http://video.foxnews.com/v/5738406726001/?#sp=show-clips
One has to wonder how long it is before her own party works to marginalize her and remove her from leadership for being an absolute buffoon.
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Nancy Pelosi is apparently doubling down on her anti-tax cut rhetoric with a 100 city tour.
Meanwhile, now over 50% of Americans favor the tax cuts.
The first couple of minutes are here: http://video.foxnews.com/v/5738406726001/?#sp=show-clips
One has to wonder how long it is before her own party works to marginalize her and remove her from leadership for being an absolute buffoon.
It is likely a 100 city tour to raise money since donations to the Democrat Party have been pretty low since Trump took office.
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As A board member of a small financial association, we had quite a bit of discussion about what to do with the projected savings from our lowered tax rate. After much discussion it was decided to give a one time bonus of $1000 to each and every employee. That's about 40 people. They seem pretty happy with thier crumbs.
We might decide to do it again depending on future earnings but it was announced to them as a one time because of the change in the association's tax rate.
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YOU HEARTLESS BASTARDS! YOU COMPANY MAKES BILLIONS AND YOU RETURN A CRUMB OF A CRUMB TO THE CRUMBS WHO EARN YOU THOSE CRUMBS!
Sorry, channeling Nancy...
I wish my company would kick back some of the benefits to the employees. But of course they won't.
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I wish my company would kick back some of the benefits to the employees. But of course they won't.
Probably run by liberals. "Make the crumbs hurt!"
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No, run by asshats who are so *expletive deleted*ing afraid of the shareholders that they piss their pants every time someone says annual meeting.
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Eh, out company tossed out the projected savings.
...and in the same announcement said it'd be "at least six months" before they had a chance to finish a review what they can pass along to the employees. IOW they figure by then folks will forget about it.
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Just to add that this is one of the few remaining traditional mutual financial associations so there are no stockholders taking dividends but every account is a shareholder. Primary products are mortgage lending and deposit accounts. We have to have earnings but we don't have to satisfy greedy bastard stockholders.
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Just to add that this is one of the few remaining traditional mutual financial associations so there are no stockholders taking dividends but every account is a shareholder. Primary products are mortgage lending and deposit accounts. We have to have earnings but we don't have to satisfy greedy bastard stockholders.
OH! So you're the one destroying the for-profit banking industry! For shame! Don't you know how bad off Wells Fargo, Bank of America, and Chase are? They have to have DOMESTIC sparkling wine at their board meetings!
Used to hear that *expletive deleted*it all the time when the banking industry was on a big push to "make the playing field level" in the 1990s when I was working for Navy Federal Credit Union.
NFCU at the time had something like $30 billion in member assets. Today, as the largest credit union in the United States, it has about $55 billion in member assets.
Bank of America? $2.28 TRILLION, and it's the number 2 after JP Morgan Chase.
When he testified at the House Banking Committee that was looking at taxing credit unions, our President said that if the banks truly wanted a level playing field, they should begin by having all-volunteer boards of directors (like credit unions) and returning that money to customers in the form of lower fees and higher rates.
The howls from the banking industry were pretty loud.
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Mike, I still hear talk about leveling that playing field.
Mutuals (fka "thrift" institutions) are now under OCC regulation since Obama merged the OTS into OCC. Credit Unions are generally seen as less burdoned by regulations. The mutuals used to be kind of between the CUs and the community or stock institutions but have been shifted closer to the banks in regulatory burdens while having fewer options for products or services and therefore lower potential for earnings.
The number of traditional mutuals has greatly diminished over the years. its still very interesting for me to see how they function.
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About 10 years ago the push was all about "leveling the playing field for community banks!!!!"
What they weren't saying is that the big banks were gobbling up the community banks like Rosie O'Donnell gobbles up Chunky Munky.