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To: mtrott

I agree, I have done a similar analysis for my individual situation (gross income around 100 K) and I receive a small decrease under the senate plan, but because I lose medical deduction under the house plan I experience a small increase. In other words the tax plan is a big nothing for me at my tax rate and the only true benefit may come from the fact that corporation taxes are reduced. (The economy may continue to get better.)

I agree with the final paragraph of the article that the correct standard deduction would be much higher if the plan were to actually do what was promised.

Now we need to ask what is wrong with Congress? Is this a confusing method for the Chamber of Commerce to tell Trump that he can win any election he wishes but he does not get to change the way business is done?


14 posted on 11/11/2017 8:36:38 AM PST by KC_for_Freedom
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To: KC_for_Freedom

Yeah, it looks like this plan is an attempt to lock up those voters in the $60,000 to $85,000 income range. They do not typically itemize deductions anyway, so this plan helps them.


15 posted on 11/11/2017 8:41:31 AM PST by mtrott
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