[SkyPilot]

The only sacred cow in all of this seems to be slashing the corporate rate.

Everyone else must take a back seat to that. Charities. Middle class homeowners in high tax states. Million dollar earners. People who deduct mortgage interest.

All those are being thrown to the wolves, so that the corporate rate gets slashed.

I do agree that doing so will grow the economy, but because they want to "pay for" the decreased tax revenue, they are raising taxes significantly on millions of Americans.

[central_va]

We don't know anything until the official tax rate brackets are posted. So hold your fire.

I have my turbo tax ready to recalculate my 2016 taxes with the new tax rates when they are posted. I will compare with the old rate schedule. Then I will make my decision.

[outofsalt]

"The only sacred cow in all of this seems to be slashing the corporate rate."

Of course, corporate taxes are paid by the consumers in the final price of whatever product is being distributed or, by the owners of the corporation through the gains on their ownership value. Corporations don't really pay taxes, people who consume their products or invest in them do.

If they slash corporate taxes, prices should drop and economic throughput should increase with the resulting increase in overall economic activity and therefore tax receipts. (Notice I did not say, "tax revenues"!)

The libs want people to believe that taxing corporations allows individuals to be taxed less while maintaining, "government revenues" used to "help" the poor (buy votes). This is a lie they have successfully perpetuated.

[redgolum]

If I have to pay more taxes, my spending will decrease.

My earnings will not. No company will give a raise just because the make more money. They MIGHT give bonus, but you don’t hand out raises willy nilly. A raise in rate will be hard to take back, so (thinking goes) it is better to wages stagnate and churn high. Payroll increases is a big issue for companies.

This is going to burn the GOP badly if it passes.

[Fresh Wind]

According to the press release, the small business will be paying a higher top rate than corporations.

The 15% rate that Trump promised us appears to be gone forever.

[ConservativeMind]

Tell us how they are “raising taxes.” Elimination of credits and deductions is exactly what flat taxers have wanted for decades. Your “effective tax rate” may go up, but your taxes haven’t. In fact, the talk is doubling the deduction and lowering other personal tax rates.

Renters do not directly profit from mortgage deductions. My wife and I give freely to charity without itemization, because it’s giving to charity. If you only give to charity because you get to deduct it, you aren’t really providing charity.

I suppose you would try deducting a quarter given to a bum on the street, right?