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No tax cuts for working class families? Don't let the democrats and lib media fool you.
https://freerepublic.com/senate/taxcalcs.pdf ^ | Dec 2, 2017 | by Jim Robinson

Posted on 12/02/2017 2:44:33 PM PST by Jim Robinson

Edited on 12/02/2017 2:54:27 PM PST by Jim Robinson. [history]

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1 posted on 12/02/2017 2:44:33 PM PST by Jim Robinson
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To: onyx; JustAmy; trisham; RedMDer; musicman; MEG33; deoetdoctrinae; xzins; DoughtyOne; TheOldLady; ...

Proposed “working class” tax cuts ping.


2 posted on 12/02/2017 2:46:38 PM PST by Jim Robinson (Resistance to tyrants is obedience to God!)
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To: Jim Robinson

Where do these hypothetical famines live? If they live in high tax California, they’re not able to deduct the oppressive taxes they pay to the state. So, a tax increase on their federal returns, right?


3 posted on 12/02/2017 2:48:29 PM PST by WilliamIII
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To: Jim Robinson

Where do you guys find the calc to run these numbers? Id like to do my own, since we’re in one of the “SALT” states...


4 posted on 12/02/2017 2:50:32 PM PST by jughandle (Big words anger me, keep talking.)
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To: Jim Robinson

Bumped to the top!


5 posted on 12/02/2017 2:51:28 PM PST by Sidebar Moderator
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To: Jim Robinson
No tax cuts for working class families? Don't let the democrats and lib media lie to you.

Fixed it.

6 posted on 12/02/2017 2:51:33 PM PST by SkyDancer ( ~ Just Consider Me A Random Fact Generator ~)
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To: WilliamIII

Not necessarily.

The brackets are wider and rates are lower.


7 posted on 12/02/2017 2:52:47 PM PST by Jonny7797
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To: Jim Robinson

That’s some nice savings.


8 posted on 12/02/2017 2:54:15 PM PST by BykrBayb (Lung cancer free since 11/9/07. Colon cancer free since 7/7/15. Obama free since 1/20/17. PTL ~ Þ)
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To: WilliamIII

If CA/NY/NJ/etc residents don’t like their tax rates they can vote out all their state lawmakers.


9 posted on 12/02/2017 2:57:26 PM PST by Beagle8U (Wake up and smell the Covfef)
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To: Jim Robinson

Good evening Jim, evening in Maine, afternoon in California.

Jim do you have a link for the tax calculator?

Thanks JIM,
Bob


10 posted on 12/02/2017 2:58:38 PM PST by Bob Celeste
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To: Jim Robinson

I’m going to be smiling real bi,g at tax time!! Ret. Sr. Citizens in Southeast Arizona!!!


11 posted on 12/02/2017 2:58:52 PM PST by SandRat (Duty, Honor, Country)
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To: WilliamIII

At these income levels, the increased standard deduction covers it. I live in California, am working class and can attest.


12 posted on 12/02/2017 2:59:53 PM PST by Jim Robinson (Resistance to tyrants is obedience to God!)
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To: Bob Celeste

spread sheet


13 posted on 12/02/2017 3:00:58 PM PST by Jim Robinson (Resistance to tyrants is obedience to God!)
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To: Jim Robinson

It depends entirely on your situation. For example, I am a single retiree with an AGI of $65K. My federal tax will probably double or triple.


14 posted on 12/02/2017 3:01:52 PM PST by proxy_user
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To: Jim Robinson

I’m in one of the Salt states and my taxes will be lower because I won’t have to hire someone to do my taxes


15 posted on 12/02/2017 3:02:18 PM PST by AppyPappy (Don't mistake your dorm political discussions with the desires of the nation)
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To: Jim Robinson

Thanks for doing the calculations, Jim.

Democrats and some on our side won’t agree, but that’s normal.


16 posted on 12/02/2017 3:03:37 PM PST by SaxxonWoods (CNN IS ISIS.)
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To: Jim Robinson

At these income levels, the increased standard deduction covers it. I live in California, am working class and can attest.

Point taken. But aren’t you admitting that at higher double-income income levels, working couples will indeed pay higher federal taxes, if they live in California or other high tax states? Say, a cop and a nurse who together make $150,000 or more? That’s middle class - and they’ll be hit with higher federal taxes because they can’t deduct their oprressive California state taxes, right?


17 posted on 12/02/2017 3:03:45 PM PST by WilliamIII
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To: Bob Celeste

Click on the link at the top! It’s a PDF - you’ll be able to figure it out.


18 posted on 12/02/2017 3:04:56 PM PST by RebelTXRose (Our Lady of Fatima, Pray for us! PRAY THE ROSARY!)
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To: jughandle

It’s just a simple spread sheet calculation using the proposed rates and standard deductions vs current law.

Here’s the chart I used for current and proposed brackets: http://static5.businessinsider.com/image/5a1ed8233dbef4cc1d8b8b4e-1200/married-filers-senate-tax-plan-brackets.png


19 posted on 12/02/2017 3:07:35 PM PST by Jim Robinson (Resistance to tyrants is obedience to God!)
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To: WilliamIII

According to the news about the bill that passed the Senate, the deduction for local property taxes would still be there for up to $10,000, and the mortgage interest deduction, to $1 million.


20 posted on 12/02/2017 3:08:30 PM PST by familyop ("Welcome to Costco. I love you." --Costco greeter in the movie, "Idiocracy")
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