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"Economic growth will accelerate if the Tax Cuts and Jobs Act passes, leading to more jobs, higher wages, and a better standard of living for the American people."
"We firmly believe that a competitive corporate rate is the key to an economic engine driven by greater investment, capital stock, business formation, and productivity – all of which will yield more jobs and higher wages."
"The enactment of a comprehensive overhaul – complete with a lower corporate tax rate – will ignite our economy with levels of growth not seen in generations."
The article doesn't say how it screws the lower and middle classes. I wonder how much the economists were paid for their signatures.
The thing is, this bill doesn't screw over the lower and middle class. The rates go down and standard deduction doubles. Some media and democrats are giving people this idea that it hurts workers but it doesn't.
The thing is, this bill doesn't screw over the lower and middle class. The rates go down and standard deduction doubles. Some media and democrats are giving people this idea that it hurts workers but it doesn't.
Use a calculator. The loss of exemptions means the standard deduction only goes up by 16%. The loss of many deductions for middle class Americans mean they will see immediate increases in tax liability. Almost all Americans will see increases when the individual provisions expire in just 7 years.
Use a calculator. The loss of exemptions means the standard deduction only goes up by 16%. The loss of many deductions for middle class Americans mean they will see immediate increases in tax liability. Almost all Americans will see increases when the individual provisions expire in just 7 years.
I've used a calculator and my family along with many millions more middle class families will receive a tax decrease of 1-3 thousand a year. What may or may not happen in 8 years is irrelevant to today's discussion although I oppose expirations.
My taxes will increase $7K to $10K under this tax bill.
Do you pay AMT and does the elimination of it offset the increase? I haven't run our numbers yet, but I was wondering if this might be relatively neutral for us, though we would probably see a little increase because it'll bump our bracket overall.
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I've used a calculator and my family along with many millions more middle class families will receive a tax decrease of 1-3 thousand a year. What may or may not happen in 8 years is irrelevant to today's discussion although I oppose expirations.
No doubt many do get a cut, but let's not say that middle class Americans uniformly will. Homeowners, young people and parents with student loans, small business owners -i.e. suburban middle class and mostly Republicans - are getting screwed.
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
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Quote:
Originally Posted by Ponderosa
No doubt many do get a cut, but let's not say that middle class Americans uniformly will. Homeowners, young people and parents with student loans, small business owners -i.e. suburban middle class and mostly Republicans - are getting screwed.
And families with 3 or more children get screwed
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