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Personal Finance and Investing

progree

(11,463 posts)

19. To answer your tax question -- I got screwed a bit

Reply to at140 (Reply #17)

Sun Feb 9, 2020, 07:46 PM

Feb 2020

How much tax cut did you get as a percentage of your gross income?

I did itemized deductions in both 2017 (the old law), and 2018 (the new law). So the increase in the standard deduction didn't help me at all. But the loss of the $4,050 personal exemption did hurt me.

On the other hand, I only paid $141 in federal taxes in 2018, so that's the most I lost out. But I did lose out.

Edited title: credit -> question

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Only half of Americans own stocks, and 84 percent of all stocks are held by just 10% [View all] at140 Feb 2020 OP

Are we talking outright stock? RandySF Feb 2020 #1

It includes stocks held in mutual funds progree Feb 2020 #4

Then it has to be more than half. RandySF Feb 2020 #5

Then what has to be more than half? progree Feb 2020 #6

I think the article is off. RandySF Feb 2020 #8

It could be. But why do you think so? It is a much quoted statistic progree Feb 2020 #9

Marketwatch?? They depend on more stock buyers! at140 Feb 2020 #16

There are many more than just Marketwatch quoting that statistic progree Feb 2020 #20

I wonder.... lastlib Feb 2020 #24

Well, 55% of Americans said they own stock in 2019 (was 63% in 2004) - Gallup progree Feb 2020 #15

Good point to make! A gross distribution of wealth in this country, which should have never... SWBTATTReg Feb 2020 #2

A very clever way to pitch one's primary candidate outside of the Democratic Primaries Forum progree Feb 2020 #3

My candidate preference is not important, the subject matter of thread is! at140 Feb 2020 #17

The admins instructions are clear - and there was a good reason for them. We don't progree Feb 2020 #18

To answer your tax question -- I got screwed a bit progree Feb 2020 #19

I've been on the road all day and only just saw this thread a short while ago..... A HERETIC I AM Feb 2020 #21

OK, I will edit my post...as the mention of Warren was incidental. at140 Feb 2020 #22

Fair enough. A HERETIC I AM Feb 2020 #23

Vanguard use to use Wellstone ruled Feb 2020 #7

I own stock jls4561 Feb 2020 #10

There are other places to invest Progressive dog Feb 2020 #11

True. Pension plans are included in the stock ownership statistics cited in the OP progree Feb 2020 #12

Defined benefit plans are not Progressive dog Feb 2020 #13

EDITED - you apparently are right, looking at the paper (NBER link). progree Feb 2020 #14