Quote:
Originally Posted by bigalbert
It was for me in my lifetime. So it’s a fact for me I guess. If you like higher taxes then so be it. I’m dam sick of this “temporary” tax.
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But are you making a good comparison between this latest tax cut and the previous reductions?
Sure, the $3700 tax reduction for you may have been the "largest" from a dollars/cents standpoint.
But if you wish to compare this tax reduction to the prior tax reductions during your lifetime, you should calculate the % reduction in taxes for each tax cut - because I doubt that your earnings / tax liability remained fixed and was the same over the last 20 or 30 or 40 years.
And unless you have some type of life event happen - going full time to part time, changing careers, etc - the money you earned and tax liability was probably the highest during this last tax reduction vs the prior tax reductions.
So unless you went back and calculated the % reductions for every single tax cut during your lifetime, your comment doesn't really mean that much because if you had the highest earnings with the highest tax liability (when compared to prior years), then it makes sense that the "largest" reduction from a dollars/cents perspective was from this latest tax cut.