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FortWayneIndiana saysDown for most people.
What I love is the misdirection.
If one makes $315,000 - 24%.
Make an extra dollar $315,001 - 32%.
Republicans are stealing 8% more of that dollar.
Look at every bracket.
Can't wait to see the bitching & moaning next April.
Make an extra dollar $315,001 - 32%.
Republicans are stealing 8% more of that dollar.
But didn't they make the standard deduction about 2x, so most folks don't need to take the interest deduction anymore? I think it's the beginning of phasing out deductible mortgage interest. Then they can slowly drop the standard deduction to raise taxes later. This is a ten year -ish program.....
rocketjoe79 saysBut didn't they make the standard deduction about 2x, so most folks don't need to take the interest deduction anymore? I think it's the beginning of phasing out deductible mortgage interest. Then they can slowly drop the standard deduction to raise taxes later. This is a ten year -ish program.....
that's already there. mortgage interest is no longer deductible as per new tax bill. this year.
What I love is the misdirection.
If one makes $315,000 - 24%.
Make an extra dollar $315,001 - 32%.
Republicans are stealing 8% more of that dollar.
Look at every bracket.
This is not quite how it works.
I have already done a tax calculation and concluded that it's most likely not going to affect my taxes much.
Scroll down a bit in the webpage, there are 2 charts with single and married tax rates. Down for most people.
Personal opinion: Still though taxes are too high in this country. 30% federal if you are not broke. Then add CA 10% state, 10% sales tax.