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Wiz Imp

(9,026 posts)
Thu Dec 18, 2025, 10:19 AM Dec 18

"many families will be saving between $11,000 and $20,000 a year, [View all]

and next spring is projected to be the largest tax refund season of all time.”

Trump said this last night.

In reality, we have data for 2021 which shows families in each of the bottom 3 quintiles of income already paid less than $11,000 in Federal income tax (most, significantly less). So that means that almost everyone in the lowest earning 60% of families already paid less than $11,000 total in income taxes so it is impossible for that 60% of the population to save $11,000. Even if income taxes were completely eliminated for the bottom 60% (they weren't), they still wouldn't save that much money.

https://usafacts.org/articles/average-taxes-paid-income-payroll-government-transfers-2018/

The facts are, that unlike the lie that Trump is peddling, taxes for working class families were hardly cut at all. The main tax impact of the bill was to make previous cuts permanent, which by itself, saved nobody anything - it just meant that people wouldn't be paying more.

The supposed elimination of taxes on social security (which in reality did not elimnate a single dollar of taxes directly on social security) will save the average social security recipient $670 a year.

The so-called elimation of taxes on tips reduces taxes for tipped workers by a little over $1000 a yeat. But for those making $33,000 or less, that savings drops to just $450.

As for the supposed elimnation of taxes on overtime, that provision will save taxpayers in the bottom 2 quintiles effectvely nothing. The third and fouth quintiles would save a whopping $135 a year, and even the top quintile wil save only $215 a year.

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Averages are a wonderful thing. sop Dec 18 #1
Which is why looking at quintiles makes sense. Wiz Imp Dec 18 #3
I am in sticker shock each time I go to the grocery store. Irish_Dem Dec 18 #2
Damn! What kind of tomatoes? CrispyQ Dec 18 #4
IDK the brand, I kind of blacked out! Irish_Dem Dec 18 #15
Don't shop at Whole Foods. Go to Aldi. hedda_foil Dec 18 #5
I hardly ever shop there. Irish_Dem Dec 18 #16
Whole Foods is more expensive then typical grocery stores. kimbutgar Dec 18 #8
Same here. I hardly ever shop there. Irish_Dem Dec 18 #14
I am making cookies as I always do Bettie Dec 18 #18
My family loves a nice beef roast on Christmas Eve. Irish_Dem Dec 18 #19
We're seeing that too Bettie Dec 18 #20
I was at a store looking at an afghan throw. Last year I paid about $15 for the same one. Irish_Dem Dec 18 #21
Perfect. You never know who you are shopping next to. PuraVidaDreamin Dec 19 #22
Yep. I made some loud comments about $7 for a can of tomatoes and $25 for mushrooms. Irish_Dem Dec 19 #23
Whole Paycheck RoseTrellis Dec 19 #24
I was not that impressed with the quality for the price. Irish_Dem Dec 19 #30
Whole Foods isn't called Whole Paycheck for nothing. llmart Dec 19 #25
I agree. It was a bad experience, boarding on creepy. Irish_Dem Dec 19 #29
That container thing... llmart Dec 19 #31
The entire experience was bad. Irish_Dem Dec 19 #32
$10 for a can of Green Giant asparagus. Safeway. marybourg Dec 19 #26
Yikes. I would take a hard pass on that one. Irish_Dem Dec 19 #27
It's time malaise Dec 18 #6
BS OC375 Dec 18 #7
Tax cuts don't matter when you don't have a job. CrispyQ Dec 18 #17
Isn't that nice. A few families will even be saving billions and billions of dollars. twodogsbarking Dec 18 #9
Listening to that moron talking about percentages and taxes..... AZ8theist Dec 18 #10
Yes, but his current "business" (the Presidency) makes him BILLIONS... Justice matters. Dec 18 #13
I am grateful for lowering my prescriptions by 400% Playingmantis Dec 18 #11
"[M]any families"...just not yours. And wages are rising...just not yours--especially if you've been let go. Ol Janx Spirit Dec 18 #12
But we'll all be paying thousands more for everything kerouac2 Dec 19 #28
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