Let me share about my joy at the tax preparers office this morning. We always wait until about now to do our taxes. I don’t know why. It’s just “tradition.” But this year we were almost eager to get them done. Because, don’t you see, we, that is, those of us solidly in the middle class, were supposed to receive a great tax break courtesy of President Donald J. Trump.
We are “solidly middle class.” We are not upper middle class. We are not lower middle class. We are right in that sweet spot that Mr Trump promised a tax break to. We are on the downhill side of our mortgage. Right. That means we owe less than the house is worth. If we live long enough we may experience a debt free home. The house is small compared to many in our bracket; only 1,500 square feet. We have two cars. One is 2002 and paid for. The other is 2015 and we’re still paying for that one. Yeah. Middle class.
So we get to the tax-man. Our own calculations indicate that we will have to pay several thousand dollars. You see we are not just middle class. We retired in 2018 too. We were eager to see how incorrect our own calculations were given that Mr Trump so expressly/openly/proudly promised that the middle class would see a significant tax break.
We sat in the tax-man’s office anxious (as in terrified) that our understanding of Trump’s tax break was incorrect. Lo and behold, we were wrong. Our tax bill was higher than it has ever been by a few thousand BUT it was way less than we had calculated ourselves.
The bottom line? We owe more than we ever have in the past but it was far less than we thought it might have been. Boy, do we ever feel lucky. Thank you, Mr Trump! We are moving closer to the lower middle class every year you are in office.