What tax cut? Based on what is published so far my taxes will go up by $1,600. Probably more since the standard deduction goes up so much good luck with that mortgage deduction, most of us will no longer reach the threshold to deduct.
Hate to admit it but for once the rats are right, great for corporations and the high income people but sucks for middle and lower middle class.
The increased automatic deduction is a smoke screen when you figure in we lost the personal exemption.
Once again I pay more, the rich and poor pay less. I am sick of bearing the brunt of every tax adjustment.
We pay more as well. And we’re NOT rich! They “give” with one hand, and take more with the other. It’s all just S.O.S., a big sick joke. When the American People figure out how it impacts on them personally, most will be very pissed. Very.
I didn’t know mortgage interest deduction had a threshold, but I haven’t had a mortgage in a long time.
How do you know, have you seen the brackets?
“Once again I pay more, the rich and poor pay less.”
You do realize that “the rich” pay taxes in 1 day what an average guy is likely to earn in a life-time. The RICH pay 90% of the taxes. 50% are FREELOADERS. Until that 800 pound gorilla is addressed, there is no point in going through “fiscal” conservatism.
Sort of reminds of the wonderful Health care plan- every family will see 2500.00 in savings every year.
Lies, Lies and more lies.