Trump screwed us over so bad with his tax bill and y’all on here talking about “he gave us a stimulus”. I need y’all to be fr. But tbh yall probably don’t work a real job if a smooth $2k has yall bending over and twerking for that man
@d_la_reina median prices for everything in this country has doubled since biden took office. that's not trump.
The tax cuts primarily benefited high-income earners and corporations, many middle-class taxpayers also saw reductions in their tax liabilities. However, the extent to which individual taxpayers benefited depended on various factors such as income level, filing status, and deductions claimed. Lower income tax rates: The TCJA maintained seven federal income tax brackets but lowered the rates for five of them through 2025. For example, the 22% rate kicked in at lower income levels compared to the previous 25% rate bracket. Increased standard deduction: The standard deduction nearly doubled to $12,000 for single filers and $24,000 for married couples filing jointly, reducing taxable income for many. Expanded child tax credit: The child tax credit was doubled to $2,000 per qualifying child under 17, with $1,400 being refundable for lower income families. According to analyses by nonpartisan groups, middle-income households making between about $50,000 and $90,000 received an average tax cut of around $1,000 annually under the TCJA initially. However, many provisions phased out over time, reducing future cuts. I do not watch the news. Which is why I am not short on details or how this went down.
@d_la_reina I owe SO MUCH because of those changes. It’s ridiculous
@d_la_reina The gag is, the stimulus check wasn’t even trumps administration. He just wanted his name on it.
This was not permanent. Read the law. The 2017 Tax Cuts and Jobs Act did provide meaningful, albeit temporary, tax reductions for many middle-income Americans. Key provisions included: • Lower income tax rates across multiple brackets • Nearly doubling the standard deduction • Doubling the child tax credit Nonpartisan analyses showed households making $50,000 - $90,000 received average annual tax cuts of around $1,000 initially. However, these individual income tax cuts were structured to expire after 2025 per the legislative text. This phase-out was pre-programmed into the original law, not due to any policy changes under Biden. So the middle class did see a tax reduction in the early years of the TCJA. But the benefits were temporary by design, not phased out early due to inflation or any actions by the current administration.
@d_la_reina Arguing about politics is a waste of time love 🙃‼️
@d_la_reina I literally got 10k back from my tax return.