I expect and has been rumored the initial proposed ranges/break point (Married) for 12% will be $0-$75,900, 25% for $75,901-$418,400 and 35% for $418,401+. We’ll see if I’m right.
Finally!
If you are right I may break even but I can liquidate my IRA in a hurry.
Your assumption essentially combines the 10 and 15 percent brackets saving $1000.
However, my losing personal exemptions of $8000 in the 25% bracket costs me $2000 so as a middle class homeowner I lose.
Looks like the real winners are those making over $231,000.
That will not go over good!