Unemployment Rate matches lowest point in half a century

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stinkcat_14 said:
The benefits are highly skewed towards the higher brackets. If you are in the lowest tax bracket you received no benefit from the new tax law.
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DUH !!!
If you aren’t paying a fed income tax, you can’t get that cut.
Any % times zero still equals ZERO.
 
Theo520 said:
DUH !!!
If you aren’t paying a fed income tax, you can’t get that cut.
Any % times zero still equals ZERO.
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So tell me, how much of a tax break do people in the 10% bracket get because of the tax cut?
 
The people in the lowest tax brackets haven’t payed a fed income tax for quite some time.
How is it that you don’t understand you can’t give a break to someone who doesn’t pay the tax to begin with.
 
Theo520 said:
The people in the lowest tax brackets haven’t payed a fed income tax for quite some time.
How is it that you don’t understand you can’t give a break to someone who doesn’t pay the tax to begin with.
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Are you really trying to say that people in the 10% tax bracket pay no taxes?
 
Theo520 said:
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stinkcat_14:
Are you really trying to say that people in the 10% tax bracket pay no taxes?
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All the research I found showed they pay no federal income tax.
Isn’t that how you read the image I provided?
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That chart does not list tax brackets
 
But then I wasn’t paying taxes, right??? And I got extended time for parenting… right???
 
Theo520 said:
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stinkcat_14:
That chart does not list tax brackets
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OBVIOUSLY the lowest tax bracket would be in the lowest two Quintiles.
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People in the 10% tax bracket pay taxes. You don’t get exempted just because you are in a low bracket. Now, how much of a tax break did people who are in the 10% bracket get? They do pay taxes, that is why they are in the 10% bracket.
 
stinkcat_14 said:
People in the 10% tax bracket pay taxes. You don’t get exempted just because you are in a low bracket. Now, how much of a tax break did people who are in the 10% bracket get? They do pay taxes, that is why they are in the 10% bracket.
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Hello ! ? ! ?
We’re talking federal income taxes here.

Stop deflecting by trying include the soda tax, property taxes, and all the other non federal state and local taxes
You get the red herring award of the day.
 
Theo520 said:
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stinkcat_14:
People in the 10% tax bracket pay taxes. You don’t get exempted just because you are in a low bracket. Now, how much of a tax break did people who are in the 10% bracket get? They do pay taxes, that is why they are in the 10% bracket.
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Hello ! ? ! ?
We’re talking federal income taxes here.

Stop deflecting by trying include the soda tax, property taxes, and all the other non federal state and local taxes
You get the red herring award of the day.
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Yes, I am talking about FEDERAL INCOME TAXES. People in the 10% bracket pay Federal income taxes. Now, what tax break did they get?
 
Now you win the red herring award, I never said anything about soda taxes or any other tax.
 
DH’s cousin owns a business. Some of his employees were complaining about their lack of a tax break.
 
Theo520 said:
Are they losing the SALT deduction?
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If you are a single person, making $20k per year and taking standard deductions, your tax liability won’t change much from 2017. You will owe federal income taxes, but it certainly won’t go down by much.
 
I think they thought they would get a bigger paycheck. I know he is losing his SALT deduction.
 
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ndsolt said:
I think they thought they would get a bigger paycheck. I know he is losing his SALT deduction.
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So they are becoming acquainted with how much their state and local taxes really are.
This chart puts income against the brackets. Virtually nobody making under 30k/yr pays any federal taxes. If they are, I expect an hour with a tax accountant can rectify that problem

Frankly, it’s nearly impossible for you to see a significant tax cut until you are making well over $50k/yr.
 
petra22 said:
But why not? People wouldn’t hire full time folks because of the ACA… I attribute that to the Obama era…
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If you are employed for at least one hour a week, you are counted as employed. So shifting people to part time would not affect the unemployment rate.
 
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