I am retired and living on Social Security and pension. In 2017, my tax refund was $600 more than it was this year with my 2018 tax return. I paid more taxes in 2018 than I did in 2017. What happened to Trump’s “Big beautiful tax cut?”
I asked my neighbor, who works at Walmart, if she noticed a difference in her tax outcome since Trump’s 2018 tax laws changes. She told me her refund for 2018 tax year was lower than her refund for 2017 tax year was. Then I phoned my younger brother, who is middle class, not retired and still working. He told me that the loss of the mortgage interest deduction on his 2018 taxes caused him to pay more taxes in 2018 than he paid in 2017.
Trump’s “big, beautiful tax cut” evidently only works for corporations and billionaires. I will remember that I paid more in taxes in 2018 than I did in 2017, in 2020.