Everybody needs to take deep breadth here.
Looking the current tax brackets and the proposed brackets this an excellent for lower middle and middle income earners especially those with modest item deduction amounts.
Below are the married joint filing AGI levels you need to have under the proposed plan to end up paying the same tax as the current plan.
80,000 AGI becomes 104,200 AGI to pay the same tax
100,000 AGI becomes 124,200 AGI to pay the same tax
150,000 AGI becomes 174,200 AGI to pay the same tax
200,000 AGI becomes 229,860 AGI to pay the same tax
250,000 AGI becomes 280,848 AGI to pay the same tax
So what one could loose in itemized deductions would probably be more than offset by the bump in AGI needed to end up paying the same tax.
Well, now youre being way too logical and factual. Youre taking away the ability for many to have a knee-jerk emotional fit.
They dropped the $4050.00 per personal exemption!
FLAMING HORSESHIT !
Will you please stop using facts and logic? They have no place here.