$1500 refunds in exchange for mortgaging your children’s future does not seem like a good deal to me. The population wants 7 trillion dollars in services (budget) and only wants to pay 5 trillion (taxes collected) for those services. It is not sustainable, taxes need to go up and services need to be reduced.
The_Blip on
Love that it’s gone from, ‘tariffs will make income taxes obsolete’ to a one off payment of a ‘massive’ 1-2k.
Also, they can’t even seem to get that figure right? You can’t have tax refunds of 1-2k and also somehow have an average of 1k.
ThickGur5353 on
With the changes to the tax laws implemented in president Trump’s big beautiful bill, I expect that to be true. I’m a senior and we’re getting something like a $6000 extra standard deduction. $12,000 if married. Yes the national debt will go higher. But I wonder how much people really care about the national debt when they get more money in their hands.
Georgiachemscientist on
Averages are very deceptive. These returns will be heavily weighted towards those who can best take advantage of the Trump tax cheat codes. I mean, deductions….
schrod on
We don’t want handouts. We want an autonomous economy that used to work pretty well for most people.
It has been tweaked in the wrong direction in so many ways it may be impossible to get close to what it was just one year ago.
Our allies have been so disrespected that they might keep shut down, those benefits we used to enjoy when trade was free.
Meanwhile everything needs to be “handled” while failure is everywhere and the “handler” picks and chooses his recipients based on how they vote.
We want our democracy back too.
jawsomesauce on
Just for old people though who mostly weren’t owing taxes anyway. I looked at the list of changes and nothing seems to be more significant than a typical inflation increase to deduction figures, other than the $6k deduction for seniors. What am I missing
CapNBall1860 on
“He observed it will “depend on what happens with Congress,” though he anticipates legislation will be drafted early next year.”
I think this is the 5th time this year that money has been promised to buy votes. Spoiler: they never actually follow through.
loaferuk123 on
I am very glad that the US has made its insanity so clear, so the rest of the world can make preparations for the inevitable car crash that follows.
HashRunner on
Absolutely insane how much money is suddenly being spent under republicans. “Free money” coming out of the couch cushions to serve their interests of buying votes and funneling handouts to the wealthiest.
All with complete media silence on the executive overreach and inflationary impact.
kylestoned on
Big refunds are the distraction to the affordability crisis. They are handing people back their own money while tax advantages that overwhelmingly benefited the wealthy were locked in.
Vusiwe on
The Alt-Right: SNAP, Medicare and housing the unhoused are communism!
Also the Alt-Right: But a $14,880 tax refund for yours truly, is not communism!
BradBradley1 on
“You don’t understand – the payoff for my absurd grift is only but a mere few months away! Then you’ll all be rewarded for playing along!” Ah, Trumpy bear has been taking a page straight out of the Elon Musk playbook all yeah long lmao.
NigerianPrince76 on
I must say, as an American……. We are too dumb as a society and this administration is laughing at us EVERY DAY. Majority of us are basically fucked financially and it ain’t getting better as each month passes and yet these clowns always coming up with new empty promises to keep the masses clueless and we are letting them.
We truly are living in Idiocracy movie huh?
Apart_Exercise_5630 on
Wait. A return on taxes paid is the govt paying you back on the principal of the interest free loan you have during the year. Honestly, how stupid are we that we somehow see this as some kind of a reward or ROI?
Summary_Judgment56 on
As I’ve said before, all this means is that people overpaid their taxes by the most ever. If they had adjusted their taxes mid-year, they wouldn’t have given a tax-free loan to the government for this year. I hope this comment is long enough for the bot mod to not auto-delete this time.
sly_savhoot on
Crazy how trump killed that girl in Oklahoma and watched as they killed an unborn baby and threw it in lake Michigan in 84.
Honestly not on my 2025 bingo card.
Mobileman54 on
There’s huge political risk in raising unrealistic expectations. Trump did it with his crazy predictions that he could end the Ukraine war in 24 hours and bring down Biden’s inflation. I think this will be another unrealistic prediction.
Kindly-Talk-1912 on
It would work if they passed an annual budget. Figures calculated in and wait till next year. Unfortunately it’s all been continuations. They’ll once again have to pass an annual budget or continuation in January.
BadHillbili on
If any such refunds come to the American people, oligarchs will make sure prices rise in a manner that sucks up these refunds and leaves in a zero sum situation, or maybe even worse off then we are now.
Jpatrickburns on
What would it have been before? Do they realize a refund is your money, overpaid and held by the feds until you do the paperwork? How with this help with insurance costs doubling or more?
20 Comments
$1500 refunds in exchange for mortgaging your children’s future does not seem like a good deal to me. The population wants 7 trillion dollars in services (budget) and only wants to pay 5 trillion (taxes collected) for those services. It is not sustainable, taxes need to go up and services need to be reduced.
Love that it’s gone from, ‘tariffs will make income taxes obsolete’ to a one off payment of a ‘massive’ 1-2k.
Also, they can’t even seem to get that figure right? You can’t have tax refunds of 1-2k and also somehow have an average of 1k.
With the changes to the tax laws implemented in president Trump’s big beautiful bill, I expect that to be true. I’m a senior and we’re getting something like a $6000 extra standard deduction. $12,000 if married. Yes the national debt will go higher. But I wonder how much people really care about the national debt when they get more money in their hands.
Averages are very deceptive. These returns will be heavily weighted towards those who can best take advantage of the Trump tax cheat codes. I mean, deductions….
We don’t want handouts. We want an autonomous economy that used to work pretty well for most people.
It has been tweaked in the wrong direction in so many ways it may be impossible to get close to what it was just one year ago.
Our allies have been so disrespected that they might keep shut down, those benefits we used to enjoy when trade was free.
Meanwhile everything needs to be “handled” while failure is everywhere and the “handler” picks and chooses his recipients based on how they vote.
We want our democracy back too.
Just for old people though who mostly weren’t owing taxes anyway. I looked at the list of changes and nothing seems to be more significant than a typical inflation increase to deduction figures, other than the $6k deduction for seniors. What am I missing
“He observed it will “depend on what happens with Congress,” though he anticipates legislation will be drafted early next year.”
I think this is the 5th time this year that money has been promised to buy votes. Spoiler: they never actually follow through.
I am very glad that the US has made its insanity so clear, so the rest of the world can make preparations for the inevitable car crash that follows.
Absolutely insane how much money is suddenly being spent under republicans. “Free money” coming out of the couch cushions to serve their interests of buying votes and funneling handouts to the wealthiest.
All with complete media silence on the executive overreach and inflationary impact.
Big refunds are the distraction to the affordability crisis. They are handing people back their own money while tax advantages that overwhelmingly benefited the wealthy were locked in.
The Alt-Right: SNAP, Medicare and housing the unhoused are communism!
Also the Alt-Right: But a $14,880 tax refund for yours truly, is not communism!
“You don’t understand – the payoff for my absurd grift is only but a mere few months away! Then you’ll all be rewarded for playing along!” Ah, Trumpy bear has been taking a page straight out of the Elon Musk playbook all yeah long lmao.
I must say, as an American……. We are too dumb as a society and this administration is laughing at us EVERY DAY. Majority of us are basically fucked financially and it ain’t getting better as each month passes and yet these clowns always coming up with new empty promises to keep the masses clueless and we are letting them.
We truly are living in Idiocracy movie huh?
Wait. A return on taxes paid is the govt paying you back on the principal of the interest free loan you have during the year. Honestly, how stupid are we that we somehow see this as some kind of a reward or ROI?
As I’ve said before, all this means is that people overpaid their taxes by the most ever. If they had adjusted their taxes mid-year, they wouldn’t have given a tax-free loan to the government for this year. I hope this comment is long enough for the bot mod to not auto-delete this time.
Crazy how trump killed that girl in Oklahoma and watched as they killed an unborn baby and threw it in lake Michigan in 84.
Honestly not on my 2025 bingo card.
There’s huge political risk in raising unrealistic expectations. Trump did it with his crazy predictions that he could end the Ukraine war in 24 hours and bring down Biden’s inflation. I think this will be another unrealistic prediction.
It would work if they passed an annual budget. Figures calculated in and wait till next year. Unfortunately it’s all been continuations. They’ll once again have to pass an annual budget or continuation in January.
If any such refunds come to the American people, oligarchs will make sure prices rise in a manner that sucks up these refunds and leaves in a zero sum situation, or maybe even worse off then we are now.
What would it have been before? Do they realize a refund is your money, overpaid and held by the feds until you do the paperwork? How with this help with insurance costs doubling or more?