Like others across the nation, I saw a news report - well, actually I was half-paying attention to it in the background while busy doing something - about some household in Texas who was getting hit with owing the IRS several thousands of dollars, rather than getting the return they expected.
While it did mention the changes in property taxes being capped with the president's new tax cuts for last year, the explanation wasn't real clear as to how it affected this family's tax outcome for this filing period we're currently in and why they owed so much money.
I suspected there was something the report was deliberately omitting, or not telling the viewers about; isn't that the "modus operandi" of today's Media (D)? Then, this report from MRCTV popped into my mailbox this morning and, after reading it I clearly understood what the report I saw earlier on this topic was leaving out.
Because tax payers have become conditioned by the IRS over the years to have more deducted from the paychecks and have gotten back at filing time a modest to large return for having had more deducted than they needed to, they've become reliant and expectant about getting it this year, but, depending on how they have their taxes done - themselves, an tax accountant, or financial planner - the change of the property tax cap which was part of the tax cut changes, were not factored into how it would impact their new filing outcome; in other words, they didn't adjust their deduction to compensate for it.
Voila! Many have either gotten less money back, or now owe the IRS money they've never had to pay because of that change. Yet, the media is using this circumstance to portray it as a failure. This is so typical of them! I'm convinced this subtle conditioning of taxpayers is how they easily manipulate them; especially those who don't understand adequately what they need to do to compensate for a change. (Evidence: The white haired lady in the video said, "...thanks to the Trump administration!")
What the Media's (D) failing to point out was that due to the tax cut change, these people were getting a small amount more in every paycheck each pay period, which many may not have noticed because it was not a significant, or noticeable amount each month, and they most likely didn't adjust their deductions because of the change on property tax, either themselves or with their tax accountant or financial planner.
If you want to understand better how our government's tax system works, just watch this video. It might help you to realize why the liberals & socialists play the rich against the poor.
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