Trump’s tax proposal won’t actually help the middle class.

Washington Post ^ | 19 Oct 17 | By Catherine Rampell

[newberger]

Has anyone yet pointed out that in *addition* to eliminating the state tax deduction, you will not be able to deduct charitable giving *or* mortgage interest unless that combine to more than $24,000?

This is an additional huge hit for the middle class.

I have seen that only in the World Magazine article that I just posted. I trust World News Group for honest reporting.

[SkyPilot]

Has anyone yet pointed out that in *addition* to eliminating the state tax deduction, you will not be able to deduct charitable giving *or* mortgage interest unless that combine to more than $24,000? This is an additional huge hit for the middle class.

I didn't know that. It just keeps getting worse and worse.

[newberger]

I do itemized deductions, because we give a lot to charity.

"Under the Republican plan, only families paying more than $24,000 a year in mortgage interest and charitable donations, combined, will be able to deduct those expenses from their income taxes."

World Magazine, October 28, 2017

Not acceptable!

[newberger]

One more.

Although the standard deduction is doubles, the personal exemption is eliminated.

This is hard on large families.

[Lurker]

“as the rest of us pay thousands of dollars more in taxes to fuel your ego and charity.“

The rest of us are sick of subsidizing high tax states. Pull your own damned weight.

L

[SkyPilot]

The rest of us are sick of subsidizing high tax states.

The state I live in gets less than 70 cents back for every dollar we give to the Feds.

There are some states that get back up several dollars for every dollar tax paid to the Federal government.

Per your strawman logic - the rest of us are sick of subsidizing the Taker states.

[SkyPilot]

One more. Although the standard deduction is doubles, the personal exemption is eliminated. This is hard on large families.

Exactly. This tax bill is a disaster.

[Lurker]

Cry me a river. I live in Illinois.

L

[itsahoot]

Notice it is reform, not cuts.

I have some experience with weasel words from politicians. They are about a honest as Army recruiters were 60 years ago.

[Scotswife]

It also eliminates personal exemptions.
That’s going to mean a tax increase for my family.

[af_vet_1981]

"King on Wednesday floated the idea of limiting the use of the deduction to people with incomes less than $400,000 ..."

1. I do not consider less than 400k annual income to be "middle class."
2. Rep Peter King, R-NY represents Long Island, NY, which is a district with 50% more income, on average, than the rest of the United States. I expect he would be concerned and try to represent his district.
3. You do not know which states I don't like.

[af_vet_1981]

"King on Wednesday floated the idea of limiting the use of the deduction to people with incomes less than $400,000 ..."

1. I do not consider less than 400k annual income to be "middle class."
2. Rep Peter King, R-NY represents Long Island, NY, which is a district with 50% more income, on average, than the rest of the United States. I expect he would be concerned and try to represent his district.
3. You do not know which states I don't like.

[SunkenCiv]

Another Partisan Media Shill, writing for Jeff Bezos' Washington ComPost.