How did the 2018 GOP Tax Cut affect you and your family?

MSgt Neil Greenfield — Mon, 11 Mar 2019 13:44:12 -0400

Okay, so I'm curious about what the masses think of the 2018 GOP Tax Cut that was passed last year.

I can tell you that I'm a bit shocked at what I owe this year, when I typically get a good refund from my Federal taxes. I ain't a happy camper.

Response by SPC Casey Ashfield made Mar 11 at 2019 1:49 PM

SPC Casey Ashfield — Mon, 11 Mar 2019 13:49:47 -0400

The GOP tax cut gave my family a larger than normal refund. However, my wife and I both owe student loans so the refund automatically went to that. On the positive side, since the refund was larger than normal this year, it eliminated the vast majority of our back taxes.

Response by CW5 Jack Cardwell made Mar 11 at 2019 1:50 PM

CW5 Jack Cardwell — Mon, 11 Mar 2019 13:50:10 -0400

I entered what I did since you did not have a none of the above answer. I owe taxes but less than I owed last year.

Response by Capt Private RallyPoint Member made Mar 11 at 2019 1:51 PM

Capt Private RallyPoint Member — Mon, 11 Mar 2019 13:51:54 -0400

The measure is how much tax did you pay. The refund is not a valid measure.

I had more gross income (a little more) and I paid a little less in tax. Therefore I must say it helped me. However, I will not be making any major purchases with the modest difference.

Response by Maj Marty Hogan made Mar 11 at 2019 1:57 PM

Maj Marty Hogan — Mon, 11 Mar 2019 13:57:37 -0400

I have always tried to be as close to zero as possible. Not getting an interest free loan from anyone- why should I give it to Uncle Sugar? I also started traveling to drill which helped a bit. I paid less in my check so I came out very well.

Response by Maj John Bell made Mar 11 at 2019 3:01 PM

Maj John Bell — Mon, 11 Mar 2019 15:01:49 -0400

The fact that my weekly pay take home is larger, more than made up for the fact that my refund id smaller. I'm not all that thrilled about giving the Federal government a tax free loan.

I strongly suspect that the people who complain about smaller refunds or owing when they never did before,, completely forget that their weekly or bi-weekly take home has substantially increased.

Response by MAJ Ken Landgren made Mar 11 at 2019 7:17 PM

MAJ Ken Landgren — Mon, 11 Mar 2019 19:17:13 -0400

I will get like $8,000 back.