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User Info: Justin2Krelian

Justin2Krelian
11 months ago#21
wolverinerob79 posted...
Justin2Krelian posted...
Very good calculator, and this goes to my point that, in the short term, pretty much everyone who takes the Standard Deduction, which is a big majority of the lower middle class, will indeed get a tax cut.

Which again means that people who have lots of kids and give a lot to charity get hurt the most. That's bad policy.


I agree, we don't need any significant tax hikes on the upper middle class. My point is that the whole hysteria about how poor and lower middle class are about to see a tax increase is a bit unfounded. Future hikes are bad, but that can be motivation for 2020...
-J2K

User Info: TonyKojima

TonyKojima
11 months ago#22
Justin2Krelian posted...
wolverinerob79 posted...
Justin2Krelian posted...
Very good calculator, and this goes to my point that, in the short term, pretty much everyone who takes the Standard Deduction, which is a big majority of the lower middle class, will indeed get a tax cut.

Which again means that people who have lots of kids and give a lot to charity get hurt the most. That's bad policy.


I agree, we don't need any significant tax hikes on the upper middle class. My point is that the whole hysteria about how poor and lower middle class are about to see a tax increase is a bit unfounded.

You're joking right? Experts are calling this the largest tax increase in decades.
Though the XBOX 360 is good in theory, it's hardware limitations say otherwise - Hideo Kojima
PSN - Guncrazy56, Board leader of 261 Politics.

User Info: Newhopes

Newhopes
11 months ago#23
LOL largest tax increase in decades.

If I still lived in the US going by that calculator I'd save just under 3k a year.

User Info: mr_brain123

mr_brain123
11 months ago#24
It says I would owe $7,500
O_O

...
Because my life is dope and I do dope ****

User Info: pokemongames

pokemongames
11 months ago#25
Genericgamer667 posted...
pokemongames posted...
A solid amount. Glad I was able to benefit from this.


f*** you I got mine


Well, how are you personally affected from this buddy?
"Happiness can be found in even the darkest of times, if one only remembers to turn on the light."

User Info: wstfld

wstfld
11 months ago#26
Went to type in my student loan interest deduction and it's not here. What is this site?
Last played - The Order (7/10), Dishonored 2 (8/10)
Now playing - Dying Light

User Info: TwigsthePnoDude

TwigsthePnoDude
11 months ago#27
$1400
Whoop de doo
It wasnt a lie, it was ineptitude with insufficient cover. ~ Donald Draper

User Info: RCtheWSBC

RCtheWSBC
11 months ago#28
wstfld posted...
Went to type in my student loan interest deduction and it's not here. What is this site?

Yeah, it's too limited for me to accurately determine the impact for me. It depends on whether my graduate school scholarships will be considered taxable income, even though they are essentially tuition credits applied by my university that I never have monetary access to...
http://i.imgur.com/1yl1fH0.jpg
the White-Sounding Black Chick

User Info: Wydileie2000

Wydileie2000
11 months ago#29
RCtheWSBC posted...
wstfld posted...
Went to type in my student loan interest deduction and it's not here. What is this site?

Yeah, it's too limited for me to accurately determine the impact for me. It depends on whether my graduate school scholarships will be considered taxable income, even though they are essentially tuition credits applied by my university that I never have monetary access to...


I had to report scholarships when I was in college. After all, you are basically getting money. If the college is actually making money off you, which they do with most STEM students, they can just eliminate the tuition altogether, instead of giving you credit. Problem solved.
"In science as in love, too much concentration on technique can often lead to impotence." -P.L. Berger

User Info: RCtheWSBC

RCtheWSBC
11 months ago#30
Wydileie2000 posted...
I had to report scholarships when I was in college

Yes, I reported my scholarship last year. I also qualified for the American Opportunity Tax Credit. I'm not sure how my tax bill will be affected if they tax my scholarships.
http://i.imgur.com/1yl1fH0.jpg
the White-Sounding Black Chick
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