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To: Brilliant; Scotswife
They are jacking up the standard exemption to $24,000

They are eliminating the personal exemption, which largely negates increasing the standard deduction from $12,000 for single and $24,000 for married couples. In fact, eliminating the personal exemption has terrible consequences for many, many families.

The 'doubled standard deduction' in the GOP tax plan is a lie

94 posted on 11/25/2017 12:17:39 PM PST by SkyPilot ("I am the way and the truth and the life. No one comes to the Father except through me." John 14:6)
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To: SkyPilot

I predict the personal exemption will be reduced but not eliminated. That is the only aspect of it that potentially hurts the middle class. But even with that feature you either need a large family or a medium size family plus a large SALT deduction for it to increase your tax. And in all likelihood the increase will be negligible even then if you’re in the middle class.

But I give you credit for advancing the Dems’ talking points.


101 posted on 11/25/2017 12:31:08 PM PST by Brilliant
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