Posted on 11/26/2017 3:12:53 PM PST by WilliamIII
“In the Senate’s plan, the top bracket gets NO use of ANY of the lower brackets’ cuts on ANY of the income at all.”
No way.
YOU WHAT!?!?
I thought you were the smartest person on the planet.
(just ask you)
So you're saying you're beyond help?
Bwahahahahahah!!!!!
Current law:
25% for $77,400-$156,150
28% for $156,150-$237,950.
Senate proposal:
22.5% for $77,400-$120,00
25% for $120,000-$390,800
And, yes, they do get the lower rates for their income in the lower brackets. It’s not their top rate for ALL their income.
LoL
I’ve already started to cut back on spending, and we are re-planning for next year. If there is going to be a great time to be had - it isn’t going to be in our house.
Why?
Because we have too many kids and are in the wrong tax bracket.
. Other years were not so good and they pay little tax.
“I don’t live in liberal hell. Pass the plan, it saves me 10%.”
I live in Liberal hell Washington State and ours goes down as well. There’s no state income tax here though. State Constitution prohibits it but that hasn’t stopped Olympia from trying to call it something else and sneak it in.
What level of middle class are you? Been so long ago that I was able to itemize it’s insane - the higher standard deduction going up and 3% lower tax rates will help a huge slab of the middle class - who don’t make enough to spend enough to benefit from most of the allowable deductions.
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I am looking at the larger picture, that's why I am not concerned about whether this plan is good for me personally. The right question is good for America or not? Yes, it could be better. But it is good as it is now constructed because the slight tax hit for some middle class is easily offset by economic growth and wage growth.
I have no pass-through income. My business experience ended more than 15 years ago.
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