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Thread: The States: At Least Michigan is Better Than Indiana

  1. #101
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    Re: The States: At Least Michigan is Better Than Indiana




    I'm still trying to figure out where this massive tax cut is right now cause I never saw a dime.
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  2. #102
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    Re: The States: At Least Michigan is Better Than Indiana

    I saw a pretty big drop in my projected taxes next year.

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    Quote Originally Posted by dxmnkd316 View Post
    I saw a pretty big drop in my projected taxes next year.
    Interesting. I was told itíd be close or maybe worse for me.

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    Re: The States: At Least Michigan is Better Than Indiana

    I honestly have zero idea how my taxes will be. Nor do I care to be honest.

    I find it funny the GOP is so worried about Calgary Ted's fight. That tells me they think it is closer than recent polling is showing.
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  5. #105
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    Re: The States: At Least Michigan is Better Than Indiana

    Sure. I could care less about my taxes too. However, I do care that the economy is good and all the money is gone. Cause, the economy is going to go bad. And when it goes bad there will be nowhere to turn.

    We're looking at another big, long, disastrous recession.

    And when that happens everything will get worse. Everything.
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  6. #106
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    Quote Originally Posted by dxmnkd316 View Post
    I saw a pretty big drop in my projected taxes next year.
    Do you itemize? If not, I could see you getting a decent drop.

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    Quote Originally Posted by ScoobyDoo View Post
    Sure. I could care less about my taxes too. However, I do care that the economy is good and all the money is gone. Cause, the economy is going to go bad. And when it goes bad there will be nowhere to turn.

    We're looking at another big, long, disastrous recession.

    And when that happens everything will get worse. Everything.
    See, this is why we elect Republicans. Then we can stockpile guns and ammo for when the big downturn hits.


    Wait, what's that? If we elected a Democrat we could still have our guns and *NOT* need to use them for a GOP fueled purge? Well sh**.

  8. #108
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    Re: The States: At Least Michigan is Better Than Indiana

    Quote Originally Posted by aparch View Post
    See, this is why we elect Republicans. Then we can stockpile guns and ammo for when the big downturn hits.


    Wait, what's that? If we elected a Democrat we could still have our guns and *NOT* need to use them for a GOP fueled purge? Well sh**.
    Isn't saving for a rainy day, paying the bills, etc. a "conservative" construct.
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  9. #109
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    Re: The States: At Least Michigan is Better Than Indiana

    Quote Originally Posted by ScoobyDoo View Post
    Isn't saving for a rainy day, paying the bills, etc. a "conservative" construct.
    Modern day conservatism is about cutting revenue. It's a brilliant business model, I don't understand why businesses don't follow it. How little money can we bring in, while still spending on things that make our friends rich?

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    Re: The States: At Least Michigan is Better Than Indiana

    Quote Originally Posted by ScoobyDoo View Post
    Sure. I could care less about my taxes too. However, I do care that the economy is good and all the money is gone. Cause, the economy is going to go bad. And when it goes bad there will be nowhere to turn.

    We're looking at another big, long, disastrous recession.

    And when that happens everything will get worse. Everything.
    Oh I know it is coming that is inevitable at this point. Every time the Fed even hints at trying to take measures to fix it Trump turns a brighter shade of orange...

    I itemized last year so in theory I should be way better off this year. I also have a lower taxable income I believe because I quit my primary job. I shouldnt owe like I have the last two years I should be in line for a nice refund. That will go right into savings...
    "It's as if the Drumpf Administration is made up of the worst and unfunny parts of the Cleveland Browns, Washington Generals, and the alien Mon-Stars from Space Jam."
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    Re: The States: At Least Michigan is Better Than Indiana

    Quote Originally Posted by Deutsche Gopher Fan View Post
    Interesting. I was told itíd be close or maybe worse for me.
    Overall, income tax paid by individuals is up, as corporate tax is down 31%.

    I'm not sure why this is not a big thing.
    Go Gophers!

  12. #112
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    Re: The States: At Least Michigan is Better Than Indiana

    Quote Originally Posted by 5mn_Major View Post
    Overall, income tax paid by individuals is up, as corporate tax is down 31%.

    I'm not sure why this is not a big thing.
    It's not a big thing because the Democrats suck at marketing.
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  13. #113
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    Re: The States: At Least Michigan is Better Than Indiana

    Quote Originally Posted by unofan View Post
    Do you itemize? If not, I could see you getting a decent drop.
    Yeah. But itís close. Next year my mortgage interest drop is probably just going to put me below the itemization limit. I have a 15-year 2.75%. So I have a pretty low mortgage deduction. My local property taxes are also quite low. If I lived five miles south in the same home, Iíd be paying 50-100% more.

  14. #114
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    Quote Originally Posted by dxmnkd316 View Post
    Yeah. But itís close. Next year my mortgage interest drop is probably just going to put me below the itemization limit. I have a 15-year 2.75%. So I have a pretty low mortgage deduction. My local property taxes are also quite low. If I lived five miles south in the same home, Iíd be paying 50-100% more.
    So the standard deduction essentially doubled, but they dropped the personal exemptions, so it's not as much of a savings as you'd think (the standard deduction + personal exemption was about 10,000 combined in 2017, this year the standard deduction is 12,000). If you were borderline before, you'll probably be under the threshold to itemize this year.

    I will most likely get the fun of taking standard deduction on the fed return and itemizing on my state return (they let us do that)
    Last edited by unofan; 10-17-2018 at 03:25 PM.

  15. #115
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    Re: The States: At Least Michigan is Better Than Indiana

    So assuming Iowa's turnout is ~40% of registered voters, roughly 10 percent of all ballots have already been cast. (2,000,000 registered voters, assume 800,000 vote, 88,000 have already been received by the county auditors).

    Trend so far looks more like 2012 than 2016, with Dems having a 2:1 advantage thus far. That gap will close, and the GOP will win among election day voters, but you can't say there's an enthusiasm gap in favor of the GOP at the moment.
    Last edited by unofan; 10-17-2018 at 05:10 PM.

  16. #116
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    Re: The States: At Least Michigan is Better Than Indiana

    Traditionally, Democrats vote early, Republicans late, according to my poli-sci professors. That may have changed in the past 20 years, but it was a long-standing trend going back decades when the information was presented to us.

    (more adding to your point that anything, uno.)
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  17. #117
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    Quote Originally Posted by St. Clown View Post
    Traditionally, Democrats vote early, Republicans late, according to my poli-sci professors. That may have changed in the past 20 years, but it was a long-standing trend going back decades when the information was presented to us.

    (more adding to your point that anything, uno.)
    Yeah, 2 years ago, the early gap wasn't close to 2:1, and by election day the GOP had basically pulled even in the early voting. Knew the Dems were in trouble then, cause election day voters skew GOP.

  18. #118
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    Re: The States: At Least Michigan is Better Than Indiana

    Quote Originally Posted by Deutsche Gopher Fan View Post
    Interesting. I was told it’d be close or maybe worse for me.
    You and I are in the prime zone for this tax cut. Single, high earner, no dependents. The people hurt the most by this are married, with dependents, and in high SALT states. There will be some weird dynamics for medium to very high earners in some states like Minnesota, New Jersey, California, New York, etc. These people might get hurt more by the SALT cap than helped by the lower rates. You might fall in that category depending on how much you pay in SAL taxes. Eventually if they make enough money there might be a crossover where they actually start to benefit from rate cuts more than the SALT cap hurts them. Not sure though.

    I don't pay enough in SALT to get hurt by it yet. Your city and house value might end up screwing you in that sense.

    Quote Originally Posted by unofan View Post
    So the standard deduction essentially doubled, but they dropped the personal exemptions, so it's not as much of a savings as you'd think (the standard deduction + personal exemption was about 10,000 combined in 2017, this year the standard deduction is 12,000). If you were borderline before, you'll probably be under the threshold to itemize this year.

    I will most likely get the fun of taking standard deduction on the fed return and itemizing on my state return (they let us do that)
    Yeah, I'm in a good spot. Single, no dependents, high income, low local taxes (state is relatively high normal). I will benefit the most. Married couples with a few kids in blue states are going to take it in the pants.
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  19. #119
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    Re: The States: At Least Michigan is Better Than Indiana

    Iím in Edina and have high home value and high taxes. And I used to be in Minneapolis and had high property tax there too. Iím talking between 4500-5500 each year on property tax alone

  20. #120
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    Re: The States: At Least Michigan is Better Than Indiana

    Quote Originally Posted by Deutsche Gopher Fan View Post
    I’m in Edina and have high home value and high taxes. And I used to be in Minneapolis and had high property tax there too. I’m talking between 4500-5500 each year on property tax alone
    Ouch, that's half the cap. I'm at about $2,600-$2,800 a year in GDO. A similar home in Woodbury is over $3,800.
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    Quote Originally Posted by bigblue_dl View Post
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    Quote Originally Posted by Kepler View Post
    When the giraffes start building radio telescopes they can join too.
    He's probably going to be a superstar but that man has more baggage than North West.

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