CAVEAT: Donald Trump’s tax plan does not mention mortgages or property taxes ( whether or not they are deductible from the Federal taxes ).
I am pretty sure I heard him say today that mortgage interest is still deductible.
Trump has said the mortgage interest deduction will remain. He said it when he introduced his plan.
I looked at my taxes for last year, and I paid just over $41,000 in Federal Income Taxes. So the beginning number in the calculator is incorrect.
Still, the savings represented by the Trump Plan would certainly be welcome in my house!
I get whacked by taxes every which way here in Illinois. State Income and Property Taxes are about another $16k, and then there's the 7.5% sales tax I pay on damn' near everything except food and medicine.
The ONE ISSUE I have with Trump's tax plan is that those making less than $50k/married pay ZERO tax.
That's bullshit. When I was making $50k and supporting my family (four of us) I was paying taxes so I think that's wrong.
Anyone who earns money should be paying taxes. Otherwise you've got no skin in the game. Trump's plan is just going to add MILLIONS more people who pay NO TAXES.
Bush did that with his tax cut moving 17 million people off the tax rolls and what happened? Deficits blew up and he did nothing more than enable the MOOCHERS to keep voting for their "free stuff" while those of us who work for a living are carrying their lazy asses on our backs!
Sorry, but Trump needs to fix his plan so that ANYONE who makes money PAYS TAXES. No taxes means you don't have a vested interest in this country's success. Bullshit.
Donald says mortgage interest is deductible.
he did mention mortgage deduction in the speech today but my opinion is that the tax code is unlawful confiscation. given that his plan is not so bad.