Tax refund amounts down more than 8% this year, thanks to T-rump's tax scam

Bump to keep the current news current and trigger Bosdog.

when you keep more of your income paycheck to paycheck you pay less in taxes which means you receive less in a refund. your goal for tax refund is $0.

Trump Promised to Bring Back $4 Trillion in Offshore Cash. He Missed by $3.3 Trillion

https://www.bloomberg.com/news/articles/2019-03-27/trump-s-offshore-cash-promise-falters-as-665-billion-returns
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Corporate America brought $664.9 billion of offshore profits back to the U.S. last year, falling short of the $4 trillion President Donald Trump said would return as a result of the 2017 tax overhaul.

Companies repatriated $85.9 billion in the fourth quarter of 2018, the lowest sum for the year and down from $100.7 billion the previous quarter, Commerce Department data showed Wednesday. Corporations brought back $579 billion in the first three quarters of 2018, upwardly revised from $571.3 billion in the prior report.
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Companies kept much of their overseas profit offshore because a 35 percent tax kicked in only if they brought the cash back to the U.S. But the Republican tax law set a one-time 15.5 percent tax rate on cash and 8 percent on non-cash or illiquid assets, regardless of the country where the profits sat.

In touting the tax overhaul, Trump predicted that more than $4 trillion would return to the U.S., which he said would create jobs and spur investment. Investment banks and think tanks have estimated that U.S. corporations actually hold $1.5 trillion to $2.5 trillion in offshore cash.
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Instead, companies have been plowing the tax cut cash into stock buybacks. Earlier this month, data from Citigroup Inc. showed that companies in the S&P 500 repurchased more than $800 billion of shares last year, surpassing the amount they invested in new or upgraded equipment. That’s the first time that buybacks have been larger than capital expenditures, despite a change in the tax law that give companies immediate write-offs if the buy machinery. Capex was slightly more than $700 billion, according to the Citigroup data.
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I get a big chuckle when liberals talk economics, like they actually understand it. You have to have a job to pay taxes and get a refund......usually.

Where did the money go?

Probably funneled into a secret off shore account belonging to the Trumps.

I'm self employed and pay my taxes at the end of the year so I never get a refund. I look at tax as a percentage of my net income. My income went up for 2018 and my tax rate went down by 4%.

Standard deductions doubled for 2018.

refunds are down because more money was given to people on there paychecks. the taxable liability of most americans went down. ur just spewing propaganda