According to some charts, taxpayers earning $90K-$140K will not have a reduction in tax rates, but will have higher taxable income as a result of eviscerated deductions.
That, my FRiends, is a tax INCREASE.
According to those same tables the very lowest earning taxpayers will see their tax rate increase from 10% to 12%.
Their taxes will increase by 20%.
This tax bill needs to die a miserable death.
Paul Ryan is democrat in disguise .The only good thing is reducing corporate taxes from 35% to 20% which is what Trump wanted in there to make U.S. businesses competitive with China.
. Remember that line in the movie The Outlaw Joseph Wales? ”Don’t pis$ down my back and tell me it’s raining.”
I read today that Paul Ryan flipped Rep. Tom MacArthur (R-NJ), who has turned 180 degrees in 24 hours and now says he will vote “Yes” on this stinking bill. I hope the bribe he received was worth it to him.
It isn’t just deductions being lost - they took away our personal & dependent exemptions too. The bigger the family - the more you get hosed. I still have 5 kids at home.
Punish families with a lot of kids. Take away the adoption credit. Keep funding Planned Parenthood.
And do this while declaring this is the largest tax cut EVAH!