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1. the under the new plan the debt increase by LESS than 1 trillion now
2. did you complain as Obama increased the debt by 10 trillion?
the plan helps lower or decrease 95% of taxpayers tax bills
we don't have a revenue problem...we have a spending problem in washingtonDC
God knows that is the truth.
My taxes won't change much but I think keeping more of your paycheck, even a few bucks, is good for the people actually doing the work. There are people whose lives would be better if they were able to see an additional $40 per week in their paycheck, or a slightly larger refund.
How much of the federal, and even state, government spending is truly necessary? How much of it could be cut? My guess, a whole lot of it. Starve this beast. Kill the beast. We all have to live within a reasonable budget, why not hold the government to the same standard?
We knew it all along. It was really FISHY when Repubs, who have been complaining about deficits and the debt for many years, now suddenly turn tail and support a big tax cut that will drive up the debt by at least $1.5 Trillion.
The big plan is to cut taxes, grow the deficit, and then use it as an excuse to slash Social Security and Medicare.
Sorry Trump supporters -- you thought you were draining the swamp. Instead you got played.
They are taxes. And taxes need to be cut, along with spending.
Just wait... Eliminating the 16th Amendment is just around the bend.
Yeah this is the plan from a month ago.Anybody got updates as to the changes being made tonight and where's the calculator for that.
This post is code for, wow, I did the test and saved money, but I still refuse to believe the plan actually might help people. Because there's no way anything tied to President Trump or the Republicans could possibly work out well. Not when we've been told over and over the Republicans are bad and they only care about the rich. How could this be? There must be something missing. I'm sure they are at work tonight making these savings disappear. Those evil Republicans and their evil commander and chief. Does that about sum it up?
Single homeowners in any major metro will have taxes rise. States with high RE taxes (like IL) get hit even worse.
not true... I live in one of those high re tax areas.....
lets do some simple math
two single moms of two kids, both make a gross of 90k
person one...uses the current deductions and tax brackets
90k - deductions of (18k itemized (due to high realestate tax of 12k on a basic house) plus exemptions for 3 (4kx3) (34k) = 56k taxable income
25% bracket (HoH)
$8500 taxes owed
person two..... uses the new brackets and takes the new std ded
90k minus deductions = 70k taxable income
12% Bracket
only 7.9k owed if they took the new std-ded, not going to count the child credits etc that MAY expire in 10 years
you don't need the deductions if they are lowering the tax levels
so the simple FACT is that not counting child credits..the 90K single mom will pay about 600 less...and nearly 3500 less with the child credit (that may or may not sunset in 10 years, and she may or may not qualify for by 10 years )
$848 increase year 1 before all the temporary individual tax saving start to fade.
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