That tax reduction was a scam to help the rich folks, not us commoners.garyb1st said:If you look at the historic data, https://www.rvia.org/historical-rv-data you'll see increases every year from 2009 until 2018 when sales dropped by 4.1%. In fact, from 2009 thru 2017, sales almost tripled. So after the great recession, things improved significantly. Then following one of the greatest tax reductions in the history of the US, sales started coming down. Go figure.
SeilerBird said:That tax reduction was a scam to help the rich folks, not us commoners.
But at least the inheritance tax was repealed so the kids of rich parents won't have to pay billions in inheritance taxes.docj said:The so-called tax cut eliminated the benefit of itemizing deductions for most middle class families which eliminated the "2nd home mortgage interest deduction" which many folks claimed on the loans for their RVs. Not surprisingly, this most likely had a negative impact on sales, especially of higher-priced RVs.
If you haven't already done so, I recommend using the IRS online tax estimator to calculate the taxes you will owe next April. If you think you're getting a tax reduction you may be sorely disappointed. https://apps.irs.gov/app/tax-withholding-estimator
SeilerBird said:But at least the inheritance tax was repealed so the kids of rich parents won't have to pay billions in inheritance taxes.
SeilerBird said:That tax reduction was a scam to help the rich folks, not us commoners.
SargeW said:I don't necessarily agree. I am totally a "commoner" but never got anywhere close to the $24,000 standard deduction, even when I did have a house and RV payment. I guess I could never afford a million dollar house to get my deductions up that far. And with the elimination of the 2nd mortgage deduction, that's going to hurt a lot more of the upper income folks than the medium to lower bracket people.
Sarge I wish to say thank you for disagreeing with me in a humane way. Many times there are morons here who disagree with me and have to try and make me look stupid in doing so. I respect your opinion and I am glad you respected mine. An opinion is simply an opinion and some people here don't get that.SargeW said:I don't necessarily agree. I am totally a "commoner" but never got anywhere close to the $24,000 standard deduction, even when I did have a house and RV payment. I guess I could never afford a million dollar house to get my deductions up that far. And with the elimination of the 2nd mortgage deduction, that's going to hurt a lot more of the upper income folks than the medium to lower bracket people.
I did pay last year, $63 to the Feds, without any of the old deductions. But my pension payments went up over twice that much per month with the changes in the tax rates. Now days my taxes will just about be a "short form".
It's funny, so many folks complained about not getting as big a tax refund as they did in previous years, but many forgot about the extra money each payday. I guess it's the same old story, you just can't make everyone happy at the same time.
SeilerBird said:Sarge I wish to say thank you for disagreeing with me in a humane way. Many times there are morons here who disagree with me and have to try and make me look stupid in doing so. I respect your opinion and I am glad you respected mine. An opinion is simply an opinion and some people here don't get that.
SargeW said:I don't necessarily agree. I am totally a "commoner" but never got anywhere close to the $24,000 standard deduction, even when I did have a house and RV payment.
SeilerBird said:But at least the inheritance tax was repealed so the kids of rich parents won't have to pay billions in inheritance taxes.
The family farm may end up in Africa if Dorian has her way.Conquest2011 said:At least the family farm doesn't have to be sold to pay inheritance tax.
garyb1st said:Then following one of the greatest tax reductions in the history of the US, sales started coming down. Go figure.
Conquest2011 said:At least the family farm doesn't have to be sold to pay inheritance tax.
We are not discussing farmers here PJ....PJ Stough said:Another red herring. Anyone who owns a large enough farm who would be affected by inheritance tax, and doesnt do the proper tax planning should pay inheritance tax.