I got mixed feelings. I am certainly no expert and haven't kept up with it for the most part as we always pay our share of taxes while trying to keep the eye simple for the most part anyway. Most decisions in this system are beneficial for some while detrimental for others. If the info in the link below is correct, we would personally benefit from the proposed tax bill. Just wondering if the estimated 1.5 trillion loss of revenue over the next decade will really be made up by reinvestment of the corporate world that would be the main beneficiaries? Not so worried about us but I wonder about people that normally benefit from that 1.5 trillion that will be gone off of the top if these corporations don't reinvest enough to recoup that 1.5 trillion? If not, what government agency's and services will be cut?
Mine will probably decrease. However, how does it help the country when it comes to paying for everything. You can only cut so much from the budget and increasing the National debt is a very bad idea.
Absolutely not It is a tax cut for the rich That's why Trump ran for President so he could lower his taxes and save himself Millions upon millions. For me earning less than $30,000 per year i would bet my taxes will go up. Especially if I can't itemize for deductions. It's all about Tax cuts for the big corporations and the extremely rich. The middle class and lower middle class like me will pay more. It's not a bipartisan work. Repubs behind closed doors and rushing it through is BS and will only benefit the rich. Plus raising the debt so to offset it they cut benefits for the needy. BS BS BS
This post was edited by Baba at November 3, 2017 8:11 AM MDT
The new plan does not say you cannot itemize deductions. What makes you think taxes are going up for you? They lowered the tax rate for a single filer with taxable income from $9,326-$37,950 it was 15%....that rate is changing to 12% up to $45,000. So you should recieve a cut of 3%.
texasescimo 