Sorry, I should have clarified. I'm not on board with the gas tax cash grab. My comment was meant to be guidance for those who are trying to gauge how they fared under the presidents tax cuts based solely off the size of their refund or withholding.....that has nothing to do with how you actually made out.
The media keeps pushing about the size of refunds and when the should be focusing ones actual effective rate.
With that being said a good Michigan example (this not me) is decent earnings split across 2 w2s (150k each, 300k total) with 2 dependents and living in a high tax house( 7k year)......w2 withholdings will be less than last year but your effective tax rate will be higher. I've seen it plenty this year.
And for the record I faired well under the new plan because of marital status, no dependents and QBI deduction since I am not w2.
Disclaimer....I rarely post on political threads and I respect everyone's opinion. I posted in this thread solely because of my obsession with numbers and math. If someone posts the delta of their withholdings my mind automatically back calculates an estimated salary range. I am just more curious whether his effective rate actually decreased. And once again it has nothing to do with political opinion or calling anyone out...it is for self knowledge/curiosity purposes only. As stated above, my effective rate went down under the presidents plan.
Last edited by NBFRC; 03-07-2019 at 02:52 PM.
This proposal is dead in the water. The Speaker of the House and Majority Leader of the senate both said "Non-Starter". Doesn't mean they won't do it eventually, but for now at least it is DOA.
So good work everyone who complained directly to their congresspersons! They heard!
-Geoff
2016 Camaro Convertible 2SS
I'm curious as to what happened to that $340ish million surplus Michigan had, and what it went to. I know it wouldn't cover all the road repair we need, but I wonder what it got allotted to.
Did some googling and found this:
https://www.detroitnews.com/story/ne...oost/34941571/
1955 Chevy Bel Air, 327, 4 speed
2020 CCSB Silverado RST
1955 Chevy Bel Air, 327, 4 speed
2020 CCSB Silverado RST
One suggestion was to add a new lottery for roads only,
perhaps 3 or 4 different games that would be 100% dedicated
to road repairs.
What do you guys think?
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