[NonValueAdded]

Yes, but this does not take into account the doubling of the standard deduction. For all my clients whose itemized deductions fall below the standard deduction, I tell them "it's in there, all you can claim plus more and you don't have to substantiate your deductions. Also, you don't have to pay me for Schedule A. So any analysis of these deduction eliminations must also take into account the new standard deduction. Chances are a significant number of people will still come out ahead.

Then there is the whole point of the Federal Tax Code subsidizing those states who have no budgetary control whatsoever. You don't like the fact that your state taxes are too high? Don't look to the Feds, look to your statehouse.

[Obadiah]

Bingo!

[Scotswife]

Do you tell your clients about the elimination of personal and dependent exemptions?
We still have 5 kids at home.

[Mariner]

” Chances are a significant number of people will still come out ahead.”

Are you factoring in an elimination of the personal exemption, and a limit on the 401k exemption at $2,400?

How many still come out ahead?

Less than half who itemize.

[Patriotic1]

The issue I have with this is that it eliminates many deductions, but we know that the other levels of taxation will change in the future. So the standard deduction will not increase with inflation, or may even decrease a bit.

They should leave things as is and lower the rates. Or just leave the deductions there and increase the standard deduction. If most people end up not using it anyway, what's the harm?

They only take away deductions, and rarely give them to everyone. Unless you're of a favored group, of course.