Mine went way down.
Glad I paid for it.
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Me too. Cause based on what you’ve posted so far, and using your logic, I have been paying for yours for quite a while. Since Hubby and I make way less than you apparently do, it seems fair to me.
We also can no longer take the home office deduction for Hubby’s business. We already adjusted.
We were in a similar situation back in the Reagan years. Our taxes went up a lot. It hurt. I didn’t bitch about it, because I understood the trade offs that were made when coming up with public policy on taxes.
It certainly wasn’t because they targeted us personally, or even people in the bracket we were in. No tax deduction is ever going to be forever.
Fortunately, the improved economics during the Reagan years allowed the companies we worked for to give us merit pay raises. So eventually it worked out for the better.
I hope that eventually it works our better for you too.
The changes in the tax law is a pertinent topic for discussion, because I believe it was a major contributing factor towards the GOP losing the House (that and Vote Fraud).
Even Cohen and Mnuchin admitted that the tax bill was really a Corporate tax cut (35% to 21%). They had to figure out a way to "pay for" that cut.
So what did the GOP do? They went searching through the sofa, looking for loose change. Take the SALT deduction for one. It had been federal tax policy since 1862.
http://www.taxhistory.org/thp/readings.nsf/ArtWeb/663D98E8EB142B3B852581C6005A9982?OpenDocument
It was considered "immoral" to force citizens to pay taxes upon monies that they already paid in taxes.
The Corporate tax cut required a $4 Trillion bill to pay. The GOP shifted that burden to individuals and families. The tax bill picked "winners and losers."