[RKBA Democrat]

I ran the numbers a couple of day ago and assuming no major changes I see about an 11% tax cut. Some observations:

This tax plan greatly helps renters and those with relatively modest mortgages.

This tax plan greatly helps those who live in lower tax states.

This tax plan greatly helps those with kids less than 18.

Much as I hate the idea of praising congress, this tax plan is very friendly to those who live a conservative lifestyle.

[Rusty0604]

Thank you!

[Red Steel]

Looks good.

[The Mayor]

Thanks Jim

[Intolerant in NJ]

Retired in Jersey - pay reduced state income taxes because we don’t have to declare Social Security and portions of pension and IRA payments as state income - no more mortgage, so haven’t itemized for the feds for a couple of years - already take federal standard deduction which is augmented for couples over 65 and will be going up more under new plan - that and the lowered federal rates, whatever they turn out to be, make it appear we’ll save a couple of thousand, about ten percent, on federal taxes under the new scheme - I like it.....

[TheNext]

Thanks Jim, very well done!

I will use this tax example to counter my lefty brother’s pessimism, who like whiny lefty liberals will try to sabotage President Trump’s winning over the next 8 years. They will not get their deranged foothold.

They will be forced to suffer in the warm sunshine of Winning!

[ronnie raygun]

Giving you more money in your pocket takes away your money from them, period

[Neoliberalnot]

Like I said before, I’ll take it. I also mentioned the debt of gratitude owed to Republicans with the exception of the beotch from Maine. Not one demrat voted in favor and yet, most of the attacks here on FR are against the republicans—this debt we owe to the old media empire, enemy #1 and mouthpiece for the rat party.

[RKBA Democrat]

Jim, your calculations are off. I know because I screwed up and used the Tax Foundations tables and information from earlier in the month. The part that I believe is wrong on your analysis is the child tax credit in the senate bill was increased to $2000.

As it turns out, I see an 18% tax cut under the revised senate plan. Not 12%.

Communist News Network has what appear to be the updated tables.

http://money.cnn.com/2017/12/02/pf/taxes/senate-tax-bill-passed/index.html

[Fightin Whitey]

Appreciate the time and work on your part.

Thanks!

[<1/1,000,000th%]

Nice.

[SteveH]

Thanks Jim and bump

[Antoninus]

Try re-running those numbers with 4+ kids. In the past, all such families got refundable tax credits. For us, with six kids, it was to to the tune of $5,000 - $7,000 per year. This helped offset the cost of incredibly high and rising costs of medical insurance and local taxes. With this bill, that's gone. So while we watch reports of how the fertility rate of native born Americans is plummeting to historic lows, the feds are taking away one of the few tangible incentives for Americans to have large families.

This bill is penny wise and pound foolish. And we are going to get absolutely crushed in 2018 as a result.

[OldMissileer]

My taxes may go down a bit but I am so angry at McConnell because he did not want to kill Obamacare.

Last year Obamacare kicked the Capital Gains Tax up. This year I changed jobs and my ESOP was hit with the higher tax so I paid almost $20K more than the lower rate. Since McConnell said in March he wanted to keep the new taxes and has been successful I lose that much money which was going to be placed in our savings account as part of our emergency fund when we retire in two years.

I was ripped off for almost $20K while some illegal or Democrat gets to buy a new car while mine are 12 years old or older.

[GOPJ]

President Trump’s giving us nice Christmas gift... thanks for running the numbers Jim....

[maine-iac7]

and how about the millions of middle class and small businesses that won’t be fined - have $$$ money stolen from tax returns - for not having Obama Care?

No one’s mentioning that...

[no-to-illegals]

Thanks Jim!!!

[trebb]

I ran my numbers with one of the calculators out there and got a fair reduction in taxes owed - most who carp and wring their hands have read a lot of crap and never done anything to actually check for themselves.

[Bob Ireland]

Thank you, your cyberness... 😊

[Basket_of_Deplorables]

Great work; Spot on. The disinformation being trumpeted in the MSM and dems is expected, and nobody believes them anymore. But we’re also getting some of it here on FR. We combat misinformation with truth, as you just did.

This tax cut will cause the economy to EXPLODE!!!! I’ve lived through 5%+ GDP growth (thank you, RR). It is a wonderful thing. Help wanted signs everywhere, people getting 20% raises, bonuses, etc. And the sheer optimism of everyday people is such a mood lifter.

100% Trump!!! No Bushie or Mittens would even attempt. Mainly bc they don’t believe it will work.

The biggest fear out there among the nattering nabobs of negativity is that it WILL work. Watch and learn, grasshoppers!