I saw a chart and was shocked at the way it’s laid out.
A lot of people get kicked to an upper bracket with the new guidelines.
I would have liked ONE tax rate. Zero :)
Not sure what the hell “income tax” means. Why did we start paying a tax on earnings?
I just read this......
More details from Cohn:
– 3 tax rates being proposed, of 10%, 25% and 35%. And on the first $24,000, 0%.
– They also propose doubling the standard deduction.
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Still not enough info. I want to see income ranges for these rates.