[maine-iac7]

You post: I understand that it also eliminates the personal deduction. This will be a significant tax increase for me. Kind of hard to get onboard for that."

Excerpt:

"The framework simplifies the tax code and provides tax relief by roughly doubling the standard deduction to:

$24,000 for married taxpayers filing jointly, and $12,000 for single filers."

So, did you not read it -

or am I not understanding - or are you a RHINO? (kinda hard to tell)

[DoodleDawg]

So, did you not read it -

Actually I did. Last year my itemized deductions were well over $12,000. But I can no longer deduct my property taxes, my state and local income taxes, my personal property taxes, so my taxable income goes up considerably. Remove the personal exemption of $4050, increase the lowest bracket from 10% to 12% and it's pretty easy to see that I'm hosed big time.

[cherry]

personal exemptions and standard deductions are different animals...

the PE for two people would be $8100...loose that....but the standard deduction would be $24000...so a net gain of $4000 approx.?