Don’t confuse personal dependency deduction with standard deduction...
If they increased the standard deduction by $12,000 that equalizes to 3 lost dependents at $4,000 each
The people who get screwed are the one’s with children over age 17 on the last day of the year as they get no child tax credit.
People don’t realize that self employed pay: Federal Income tax + Self Employment Tax + State Tax + Local Income Tax
If you are in the 25% FIT + (15.3% x .9235) SE Tax + 3.07% Pennsylvania PIT + 2.3% local tax your marginal rate is 44.5%.
Then you pay 6% sales tax to spend it....
Makes you feel like Sisyphus rolling the stone up hill!