Bitten by the Great 2018 Trump Tax Robbery
Normally I don't post things, but I'm seething mad, and need some way to vent. I just did my taxes for 2018, and much to my dismay, I'm paying 1.8 times more in taxes for 2018 than I did for 2017. This is not just a factor of having less deducted each paycheck (which has many unhappy people across the land). Despite the fact that my taxable income dropped (due to poor performance of investments and the tanking of the stock market), the amount of money that I am paying in taxes is nearly double what I paid last year. Upon closer evaluation of the causes I see two significant factors. The first factor is that I live in beautiful up-state New York (a state with high taxes), and the new Tax Law caps the amount of state taxes that can be exempted from federal taxes - which is essentially double taxation (which I view as criminal). The second factor is that I have a large family (children are a blessing from God) with older (college age) children, and the loss of per individual exemptions essentially doubled my taxable income - placing me in a higher tax bracket. We also installed a high efficiency water heater this year - but surprise, surprise the tax credit related to this was also discontinued in 2018. So I'm unhappy, but unable to do anything about it. Meanwhile billionaires are having their tax burden reduced by millions. Something is incredibly wrong! Maybe its time to vote differently!