Thanks,
-Tim
Shortly I shall be adding what your current tax rate is vs. the Donalds.
—
“Give a man a fish, and he will eat for a day. Teach a man to fish and he will eat for a lifetime. Give a man someone else’s fish and he will vote for you.”
Doesn’t work for me. It comes back blank like original screen.
Works for me. But I think you are putting in ADJUSTED gross income, not gross income, right?
Thanks anyway, but I’m shooting for the 0% bracket.
Did the same thing in excel. simple. got the same numbers. you need to make the parallel calculator for current tax rates.
The taxable income under the trump plan will be higher though. No good way to compare apples to apples.
Need to have a calculator like the bank rate 1040 calculator for both cases. Only a few will be smart enough to use it though.
One of the problems with the Trump plan is that (if I understand it) mortgage interest will go away. That will cause real estate prices to drop, which in turn will affect the value of a lot of mortgage based securities. Thinking back to 2008, it was doubts about the value of mortgage backed securities that were a big factor in the Great Recession.
It doesn’t work for $300K, but does for $299,999. (I test software for a living - LOL)
That looks like a massive tax cut for me. The Donald just keeps getting better and better.
I don’t understand how anyone could advocate for a 0 bracket. If anyone pays income tax, EVERYONE should pay income tax. Trump could have elucidated the problem of people who vote for a living. If we must have an income tax, then we should have a flat tax and every one pays it who works.
Suggestion would be to put the exiting brackets in another calculator so you can compare side by side.
This plan with its sudden very large bracket increases is a plan that really sucks beyond description. I mean come ON!
If you make $24,999.99 then you pay no taxes, but if you make 25K then you pay $2,500.00
Anyone who thinks that is progress is just not looking at this thing intelligently. This plan would be a disaster.
Wait, wait, wait here...
if someone makes 25,000.00 a year and is single and it comes up 610,000.00, don’t you think something is wrong here??????????????
boy-you-are-lost!!!
wow, works for me!
My work firewalls block it... but he said no tax for poor.
Woohooo, thats me!
BTW - I agree that Trump’s tax plan would only work IF there was massive spending reductions. Otherwise, we’ll just be borrowing more.
I think Trumps plan is lousy one, it leaves the current system intact with a few changes on rates, how is it going to bring back business when they know whenever a different administration is in office all the taxes can go right back up again maybe in just 4 short years.
No... I like the Cruz plan it is simple fair and eliminates the IRS as we know it, 7000 plus pages of regulation in the shredder and it takes off tens of thousands of employees now sucking on the gov’t tit, there will be plenty of jobs for weaning them off.
I just added a comparison for what you would pay under the current system.