Trump's Full Court Press on Tax Reform

For discussion of religion and politics

Moderators: LawBeefaroni, $iljanus

Post Reply
User avatar
El Guapo
Posts: 41246
Joined: Sat Jul 09, 2005 4:01 pm
Location: Boston

Re: Trump's Full Court Press on Tax Reform

Post by El Guapo »

hepcat wrote: Wed Jan 31, 2018 12:59 pm May be a false alarm. Looks like the "catch up" mechanic for my 401k is adding an additional 6000 a year to my deductions. I had to pour over my check line by line to find out what was happening. I was just looking at the direct deposit number and was annoyed to see a drop. When I referred to the tax brackets, I realized I was right on the cusp of a change and immediately assumed that was it.
Just to be clear, going into a new bracket only impacts the marginal taxes on new dollars over the threshold, and does not impact the taxation of the money earned up to that threshold.
Black Lives Matter.
User avatar
hepcat
Posts: 51302
Joined: Wed Oct 13, 2004 3:02 pm
Location: Chicago, IL Home of the triple homicide!

Re: Trump's Full Court Press on Tax Reform

Post by hepcat »

I should have stayed at a Holiday Inn Express last night. Maybe then I'd have known that. :(
Covfefe!
User avatar
noxiousdog
Posts: 24627
Joined: Tue Oct 12, 2004 11:27 pm
Contact:

Re: Trump's Full Court Press on Tax Reform

Post by noxiousdog »

hepcat wrote: Wed Jan 31, 2018 12:59 pm May be a false alarm. Looks like the "catch up" mechanic for my 401k is adding an additional 6000 a year to my deductions. I had to pour over my check line by line to find out what was happening. I was just looking at the direct deposit number and was annoyed to see a drop. When I referred to the tax brackets, I realized I was right on the cusp of a change and immediately assumed that was it.
Tax brackets are marginal. You can go up a bracket, but it's only on the dollars inside that bracket.
Black Lives Matter

"To wield Grond, the mighty hammer of the Federal Government, is to be intoxicated with power beyond what you and I can reckon (though I figure we can ball park it pretty good with computers and maths). Need to tunnel through a mountain? Grond. Kill a mighty ogre? Grond. Hangnail? Grond. Spider? Grond (actually, that's a legit use, moreso than the rest)." - Peacedog
User avatar
hepcat
Posts: 51302
Joined: Wed Oct 13, 2004 3:02 pm
Location: Chicago, IL Home of the triple homicide!

Re: Trump's Full Court Press on Tax Reform

Post by hepcat »

You mean what El Guapo wrote? :P :wink:
Covfefe!
User avatar
Remus West
Posts: 33592
Joined: Mon May 09, 2005 5:39 pm
Location: Not in Westland

Re: Trump's Full Court Press on Tax Reform

Post by Remus West »

hepcat wrote: Wed Jan 31, 2018 1:47 pm You mean what El Guapo wrote? :P :wink:
Given the situation should you really be poking fun of other people's reading right now? :P
“As democracy is perfected, the office of president represents, more and more closely, the inner soul of the people. On some great and glorious day the plain folks of the land will reach their heart's desire at last and the White House will be adorned by a downright moron.” - H.L. Mencken
User avatar
hepcat
Posts: 51302
Joined: Wed Oct 13, 2004 3:02 pm
Location: Chicago, IL Home of the triple homicide!

Re: Trump's Full Court Press on Tax Reform

Post by hepcat »

It's the internet, man. I should be critiquing you for a missing comma, someone else for hating Quark's character on Deep Space Nine, railing about the inclusion of a female lead in the new Star Wars trilogy AND bitching about my hot pocket's lack of more meat.
Covfefe!
User avatar
LordMortis
Posts: 70100
Joined: Tue Oct 12, 2004 11:26 pm

Re: Trump's Full Court Press on Tax Reform

Post by LordMortis »

I guess I wasn't alone in not wanting to be subjected to TV last night.

http://tvbythenumbers.zap2it.com/daily- ... n-30-2018/
Coverage on the Big 4 networks (including post-speech analysis) drew 19.8 million viewers, pending updates, vs. 23 million for the address last year (which was technically not a State of the Union, as incoming presidents get a year before their first formal SOTU). In metered-market households, the four-network average was a 14.8 rating, compared to 16.0 last year.

Trump’s 2017 address drew a combined audience of 47.74 million on cable and broadcast last year; final numbers for the State of the Union will be out later in the day.
That's not too much more than 5% of the populace is it?

Compared to Obama's record low

https://www.politico.com/blogs/on-media ... 016-217718
Obama's final State of the Union address draws record-low TV audience

By ALEX WEPRIN

01/13/2016 01:50 PM EST

President Barack Obama's final State of the Union address drew 31.3 million viewers across 12 networks, marking a new record low in viewership, according to Nielsen.

More than 21 million people watched on the "big four" broadcast networks. CBS led the broadcasters with 6.89 million viewers, followed by NBC with 6.62 million viewers, ABC with 5.02 million viewers, and Fox with 2.37 million.
Obama's worst is bigger than Trump's first.

Bolding mine
User avatar
LordMortis
Posts: 70100
Joined: Tue Oct 12, 2004 11:26 pm

Re: Trump's Full Court Press on Tax Reform

Post by LordMortis »

hepcat wrote: Wed Jan 31, 2018 2:20 pm It's the internet, man. I should be critiquing you for a missing comma, someone else for hating Quark's character on Deep Space Nine, railing about the inclusion of a female lead in the new Star Wars trilogy AND bitching about my hot pocket's lack of more meat.
why is it hot pockets go from molting lava to cold in the space of a few minutes and those few minutes cannot be predicted by any means known to man?
Jeff V
Posts: 36414
Joined: Fri Oct 15, 2004 7:17 pm
Location: Nowhere you want to be.

Re: Trump's Full Court Press on Tax Reform

Post by Jeff V »

LordMortis wrote: Wed Jan 31, 2018 2:34 pm
hepcat wrote: Wed Jan 31, 2018 2:20 pm It's the internet, man. I should be critiquing you for a missing comma, someone else for hating Quark's character on Deep Space Nine, railing about the inclusion of a female lead in the new Star Wars trilogy AND bitching about my hot pocket's lack of more meat.
why is it hot pockets go from molting lava to cold in the space of a few minutes and those few minutes cannot be predicted by any means known to man?
The chemical reactions among the rare earth elements contained within require a PhD to fully comprehend.
Black Lives Matter
User avatar
hepcat
Posts: 51302
Joined: Wed Oct 13, 2004 3:02 pm
Location: Chicago, IL Home of the triple homicide!

Re: Trump's Full Court Press on Tax Reform

Post by hepcat »

And why call them hot pockets? If you're going to go with the clothing motif, wouldn't hot sleeves be more apt?
Covfefe!
User avatar
LordMortis
Posts: 70100
Joined: Tue Oct 12, 2004 11:26 pm

Re: Trump's Full Court Press on Tax Reform

Post by LordMortis »

I think they started with Hot Cod Piece but didn't want to be associated with fish. Hot Jockstraps was too vulgar and pockets sounded close enough.
User avatar
hepcat
Posts: 51302
Joined: Wed Oct 13, 2004 3:02 pm
Location: Chicago, IL Home of the triple homicide!

Re: Trump's Full Court Press on Tax Reform

Post by hepcat »

Thankfully I wasn't holding a hot pocket when I looked at my pay stub earlier...
Covfefe!
User avatar
El Guapo
Posts: 41246
Joined: Sat Jul 09, 2005 4:01 pm
Location: Boston

Re: Trump's Full Court Press on Tax Reform

Post by El Guapo »

hepcat wrote: Wed Jan 31, 2018 2:41 pm Thankfully I wasn't holding a hot pocket when I looked at my pay stub earlier...
Did your monocle pop out in shock?
Black Lives Matter.
User avatar
hepcat
Posts: 51302
Joined: Wed Oct 13, 2004 3:02 pm
Location: Chicago, IL Home of the triple homicide!

Re: Trump's Full Court Press on Tax Reform

Post by hepcat »

Damn it, now I want a monocle.

p.s. now this...THIS...is how the internet works.
Covfefe!
User avatar
El Guapo
Posts: 41246
Joined: Sat Jul 09, 2005 4:01 pm
Location: Boston

Re: Trump's Full Court Press on Tax Reform

Post by El Guapo »

hepcat wrote: Wed Jan 31, 2018 2:43 pm Damn it, now I want a monocle.

p.s. now this...THIS...is how the internet works.
Tell your boss that you need the rest of the day off to go by a monocle, then come back, put the monocle in, look at your paystub, and have the monocle pop out in shock.
Black Lives Matter.
User avatar
LordMortis
Posts: 70100
Joined: Tue Oct 12, 2004 11:26 pm

Re: Trump's Full Court Press on Tax Reform

Post by LordMortis »

He Peanut? heplanterscat? Herr Peanut? HerpC?

https://www.youtube.com/watch?v=CdCq1rAjLIg
User avatar
hepcat
Posts: 51302
Joined: Wed Oct 13, 2004 3:02 pm
Location: Chicago, IL Home of the triple homicide!

Re: Trump's Full Court Press on Tax Reform

Post by hepcat »

This is why I always laugh when someone mentions monocles.
El Guapo wrote: Wed Jan 31, 2018 2:50 pm Tell your boss that you need the rest of the day off to go by a monocle,
Just to be clear, I can drive or walk by it, but I can't purchase it?

That seems rather mean. :cry:
Covfefe!
User avatar
El Guapo
Posts: 41246
Joined: Sat Jul 09, 2005 4:01 pm
Location: Boston

Re: Trump's Full Court Press on Tax Reform

Post by El Guapo »

hepcat wrote: Wed Jan 31, 2018 3:17 pm This is why I always laugh when someone mentions monocles.
El Guapo wrote: Wed Jan 31, 2018 2:50 pm Tell your boss that you need the rest of the day off to go by a monocle,
Just to be clear, I can drive or walk by it, but I can't purchase it?

That seems rather mean. :cry:
Well, the procedure is that you walk by the monocle place, and if the monocle place identifies you as sufficiently high-class to own a monocle, they will usher you inside.

But you would know that if you were high class, I suppose. :snooty:
Black Lives Matter.
User avatar
LordMortis
Posts: 70100
Joined: Tue Oct 12, 2004 11:26 pm

Re: Trump's Full Court Press on Tax Reform

Post by LordMortis »

El Guapo wrote: Wed Jan 31, 2018 4:24 pm But you would know that if you were high class, I suppose. :snooty:
He ain't nothing but a hepcat
Crying all the time
He ain't never caught a rabbit
User avatar
Max Peck
Posts: 13682
Joined: Fri Aug 05, 2005 8:09 pm
Location: Down the Rabbit-Hole

Re: Trump's Full Court Press on Tax Reform

Post by Max Peck »

hepcat wrote: Wed Jan 31, 2018 2:43 pm Damn it, now I want a monocle.

p.s. now this...THIS...is how the internet works.
A gentleman is always prepared for unexpected necessities.
"What? What? What?" -- The 14th Doctor

It's not enough to be a good player... you also have to play well. -- Siegbert Tarrasch
malchior
Posts: 24794
Joined: Wed Oct 13, 2004 12:58 pm

Re: Trump's Full Court Press on Tax Reform

Post by malchior »

Got my first paycheck in the new regime and it is bonkers off. I got a nice raise that retro'ed to the beginning of the year but I estimate it is still off by hundreds of dollars. Tax season is going to be a blast for people like me getting banged by the SALT deduction with NY/NJ level state taxes next year. I honestly don't even know what to do. I better not get a penalty for this shit.
User avatar
LordMortis
Posts: 70100
Joined: Tue Oct 12, 2004 11:26 pm

Re: Trump's Full Court Press on Tax Reform

Post by LordMortis »

malchior wrote: Wed Jan 31, 2018 4:57 pm Got my first paycheck in the new regime and it is bonkers off. I got a nice raise that retro'ed to the beginning of the year but I estimate it is still off by hundreds of dollars. Tax season is going to be a blast for people like me getting banged by the SALT deduction with NY/NJ level state taxes next year. I honestly don't even know what to do. I better not get a penalty for this shit.
Wait if this is retro pay then I only get a 2% bump!

Thanx Obama!
User avatar
stessier
Posts: 29816
Joined: Tue Dec 21, 2004 12:30 pm
Location: SC

Re: Trump's Full Court Press on Tax Reform

Post by stessier »

malchior wrote: Wed Jan 31, 2018 4:57 pm Got my first paycheck in the new regime and it is bonkers off. I got a nice raise that retro'ed to the beginning of the year but I estimate it is still off by hundreds of dollars. Tax season is going to be a blast for people like me getting banged by the SALT deduction with NY/NJ level state taxes next year. I honestly don't even know what to do. I better not get a penalty for this shit.
I'm sure you know, but be sure to adjust when the IRS puts out the new forms in the next few weeks. I'm confident you will indeed get a penalty if you underpay by enough.
I require a reminder as to why raining arcane destruction is not an appropriate response to all of life's indignities. - Vaarsuvius
Global Steam Wishmaslist Tracking
Running____2014: 1300.55 miles____2015: 2036.13 miles____2016: 1012.75 miles____2017: 1105.82 miles____2018: 1318.91 miles__2019: 2000.00 miles
User avatar
Alefroth
Posts: 8486
Joined: Thu Oct 14, 2004 1:56 pm
Location: Bellingham WA

Re: Trump's Full Court Press on Tax Reform

Post by Alefroth »

We're just going to let him get away with molting lava?
User avatar
LordMortis
Posts: 70100
Joined: Tue Oct 12, 2004 11:26 pm

Re: Trump's Full Court Press on Tax Reform

Post by LordMortis »

stessier wrote: Wed Jan 31, 2018 5:03 pm
malchior wrote: Wed Jan 31, 2018 4:57 pm Got my first paycheck in the new regime and it is bonkers off. I got a nice raise that retro'ed to the beginning of the year but I estimate it is still off by hundreds of dollars. Tax season is going to be a blast for people like me getting banged by the SALT deduction with NY/NJ level state taxes next year. I honestly don't even know what to do. I better not get a penalty for this shit.
I'm sure you know, but be sure to adjust when the IRS puts out the new forms in the next few weeks. I'm confident you will indeed get a penalty if you underpay by enough.
I once owed $2,000 and there was a form that my tax software spit out at me that said if i was going to continue doing that I would need to start filling out quarterly estimates and pay them. I ignored it, figuring it's not my fault they weren't taking enough money. I did change my withholding though and dropped it from 1 to 0 because $2,000 took me by :shock:
User avatar
GreenGoo
Posts: 42239
Joined: Thu Oct 14, 2004 10:46 pm
Location: Ottawa, ON

Re: Trump's Full Court Press on Tax Reform

Post by GreenGoo »

Alefroth wrote: Wed Jan 31, 2018 5:05 pm We're just going to let him get away with molting lava?
Forget it Alef, it's Mortistown.
User avatar
El Guapo
Posts: 41246
Joined: Sat Jul 09, 2005 4:01 pm
Location: Boston

Re: Trump's Full Court Press on Tax Reform

Post by El Guapo »

malchior wrote: Wed Jan 31, 2018 4:57 pm Got my first paycheck in the new regime and it is bonkers off. I got a nice raise that retro'ed to the beginning of the year but I estimate it is still off by hundreds of dollars. Tax season is going to be a blast for people like me getting banged by the SALT deduction with NY/NJ level state taxes next year. I honestly don't even know what to do. I better not get a penalty for this shit.
People have been hitting the Trump administration for rushing this stuff. It's not crazy conspiracy land to note that they care a lot more about you having a higher paycheck in 2018 than they do about you getting angry about a large tax bill in 2019.
Black Lives Matter.
User avatar
Zarathud
Posts: 16434
Joined: Fri Oct 15, 2004 10:29 pm
Location: Chicago, Illinois

Re: Trump's Full Court Press on Tax Reform

Post by Zarathud »

There are real questions about the ability of the IRS to put together the forms for the 2017 Tax Act by 12/31. It's going to be a madhouse.
"If the facts don't fit the theory, change the facts." - Albert Einstein
"I don't stand by anything." - Trump
“Bad men need nothing more to compass their ends, than that good men should look on and do nothing.” - John Stuart Mill, Inaugural Address Delivered to the University of St Andrews, 2/1/1867
“It is the impractical things in this tumultuous hell-scape of a world that matter most. A book, a name, chicken soup. They help us remember that, even in our darkest hour, life is still to be savored.” - Poe, Altered Carbon
User avatar
Octavious
Posts: 20035
Joined: Fri Oct 15, 2004 2:50 pm

Re: Trump's Full Court Press on Tax Reform

Post by Octavious »

I'm actually going to intentionally withhold more as I just don't trust that this isn't a total cluster f.
Capitalism tries for a delicate balance: It attempts to work things out so that everyone gets just enough stuff to keep them from getting violent and trying to take other people’s stuff.

Shameless plug for my website: www.nettphoto.com
Jeff V
Posts: 36414
Joined: Fri Oct 15, 2004 7:17 pm
Location: Nowhere you want to be.

Re: Trump's Full Court Press on Tax Reform

Post by Jeff V »

Zarathud wrote: Wed Jan 31, 2018 5:39 pm There are real questions about the ability of the IRS to put together the forms for the 2017 Tax Act by 12/31. It's going to be a madhouse.
How hard can it be to design a post card? :P
Black Lives Matter
malchior
Posts: 24794
Joined: Wed Oct 13, 2004 12:58 pm

Re: Trump's Full Court Press on Tax Reform

Post by malchior »

Well I talked to ADP -- to clarify someone from payroll and ADP since the payroll person also thought it was wrong -- and if I read between the lines right - they simply guessed on the withholding. Sounds like they had no guidance from the IRS.

Also this just in:

User avatar
hepcat
Posts: 51302
Joined: Wed Oct 13, 2004 3:02 pm
Location: Chicago, IL Home of the triple homicide!

Re: Trump's Full Court Press on Tax Reform

Post by hepcat »

Alefroth wrote: Wed Jan 31, 2018 5:05 pm We're just going to let him get away with molting lava?
It’s Mortis. We’re just lucky he used vowels.
Covfefe!
User avatar
Zarathud
Posts: 16434
Joined: Fri Oct 15, 2004 10:29 pm
Location: Chicago, Illinois

Re: Trump's Full Court Press on Tax Reform

Post by Zarathud »

Jeff V wrote:
Zarathud wrote: Wed Jan 31, 2018 5:39 pm There are real questions about the ability of the IRS to put together the forms for the 2017 Tax Act by 12/31. It's going to be a madhouse.
How hard can it be to design a post card? :P
If you could pay your taxes by a post card, the IRS already over-collected the tax you owed from wage income.

And this tax bill fucked up the entire system of withholding rules without notifying the IRS -- because they were making it up on their own at the last minute. But only for 7 years when any postcard disappears.
"If the facts don't fit the theory, change the facts." - Albert Einstein
"I don't stand by anything." - Trump
“Bad men need nothing more to compass their ends, than that good men should look on and do nothing.” - John Stuart Mill, Inaugural Address Delivered to the University of St Andrews, 2/1/1867
“It is the impractical things in this tumultuous hell-scape of a world that matter most. A book, a name, chicken soup. They help us remember that, even in our darkest hour, life is still to be savored.” - Poe, Altered Carbon
User avatar
Kraken
Posts: 43688
Joined: Tue Oct 12, 2004 11:59 pm
Location: The Hub of the Universe
Contact:

Re: Trump's Full Court Press on Tax Reform

Post by Kraken »

Whatever "raise" we get from underwithholding is going right into the savings account so that I can pay it back next April. Being in a blue state, I'm assuming my tax cut is just an illusion meant to buy my vote in November. Worst (best) case, I'll have set aside a chunk of money that I won't need.
User avatar
pr0ner
Posts: 17424
Joined: Mon Dec 06, 2004 3:00 pm
Location: Northern Virginia, VA
Contact:

Re: Trump's Full Court Press on Tax Reform

Post by pr0ner »

I plan on using my tax cut to increase my contributions to my TSP.
Hodor.
User avatar
Kraken
Posts: 43688
Joined: Tue Oct 12, 2004 11:59 pm
Location: The Hub of the Universe
Contact:

Re: Trump's Full Court Press on Tax Reform

Post by Kraken »

pr0ner wrote: Wed Jan 31, 2018 11:35 pm I plan on using my tax cut to increase my contributions to my TSP.
Your teaspoon?
User avatar
pr0ner
Posts: 17424
Joined: Mon Dec 06, 2004 3:00 pm
Location: Northern Virginia, VA
Contact:

Re: Trump's Full Court Press on Tax Reform

Post by pr0ner »

Kraken wrote: Thu Feb 01, 2018 3:16 am
pr0ner wrote: Wed Jan 31, 2018 11:35 pm I plan on using my tax cut to increase my contributions to my TSP.
Your teaspoon?
My Thrift Savings Plan. The government version of a 401(k).
Hodor.
User avatar
$iljanus
Forum Moderator
Posts: 13676
Joined: Wed Oct 13, 2004 3:46 pm
Location: New England...or under your bed

Re: Trump's Full Court Press on Tax Reform

Post by $iljanus »

hepcat wrote:And why call them hot pockets? If you're going to go with the clothing motif, wouldn't hot sleeves be more apt?
I prefer hot pouch. Yeah, that's all I have for this thread.
Black lives matter!

Wise words of warning from Smoove B: Oh, how you all laughed when I warned you about the semen. Well, who's laughing now?
User avatar
El Guapo
Posts: 41246
Joined: Sat Jul 09, 2005 4:01 pm
Location: Boston

Re: Trump's Full Court Press on Tax Reform

Post by El Guapo »

$iljanus wrote: Thu Feb 01, 2018 9:54 am
hepcat wrote:And why call them hot pockets? If you're going to go with the clothing motif, wouldn't hot sleeves be more apt?
I prefer hot pouch. Yeah, that's all I have for this thread.
Enlarge Image
Black Lives Matter.
User avatar
Daehawk
Posts: 63524
Joined: Sat Jan 01, 2005 1:11 am

Re: Trump's Full Court Press on Tax Reform

Post by Daehawk »

Be thankful. They're long and cylindrical and full of filling so it could be worse.
--------------------------------------------
I am Dyslexic of Borg, prepare to have your ass laminated.
I guess Ray Butts has ate his last pancake.
http://steamcommunity.com/id/daehawk
"Has high IQ. Refuses to apply it"
Post Reply