Yes its a yuge tax cut. I’m OK with everything except I’m sorry if you and the wife are making $49,900 per year you can pay something. Same as if you are making $25,000. Maybe 3%-5%. Letting 50% of the working public out of taxes is a poor idea. Unless you are really destitute you should have some skin in the game even if its $500 per year.
I never begrudge anyone who pays less in taxes. All taxes in Trump’s plan went down for everyone. “The skin in the game” - I don’t buy it. We used that against Dem, but Dems do not like to cut any ones taxes poor or the rich. The money people save in taxes gets spent that spurs on economic growth, which generates more taxes for government since the tax base enlarges.
It would be silly to tax a couple $5,000 for making $50,001/year while taxing zero for making one dollar less.