patrick.net

Most Americans will owe less in taxes as a result of President Donald Trump’s overhaul of the U.S. tax code, but in a few jurisdictions, about one in 10 will be paying more, according to an analysis released Wednesday by the Tax Policy Center.

New Jersey topped the list of states with the highest percentage of taxpayers seeing a hike, at 10.2 percent. Maryland and the District of Columbia followed, at 9.4 percent, the report shows. In California, 8.6 percent of taxpayers will pay more and in New York 8.3 percent will have higher levies.

North Dakota has the most winners from the new law, with 75.4 percent receiving a tax cut and less than 4 percent seeing an increase.

The decline in tax liability largely reflects the law’s lower rates for individuals, an almost doubled standard deduction and expanded child tax credits. Those who’ll pay more are mostly being affected by a new $10,000 limit on the state and local tax deduction.


https://www.bloomberg.com/news/articles/2018-03-28/april-2019-tax-bills-seen-catching-some-americans-off-guard

About 65 percent of taxpayers will receive a tax cut in 2018, averaging $2,200 from the new law’s individual provisions, while 6 percent will receive an increase of about $2,800, according to TPC.

Wow, who knew 65% of taxpayers were part of the 1% RICH people, who are getting the bulk of the tax benefits, according to the Liberals.