Again, don’t be fooled by those numbers. They’re only true with TODAY’s Standard Deduction. Double the Standard Deduction and those percentages would likely drop by at least 2/3’s, at least in the lower income areas of the state.
For example, if I can itemize $20k and the SD is $12.7k, I’ll itemize and save nearly $2k in taxes. But if I can itemize $20k and the SD is doubled to $25.4k, guess what, I DO NOT itemize.
But you are probably right, in the end, as the Democrats and their media will likely convince the country using today’s percentages rather than what would be the much lower post-Trump plan percentages (after all, it worked on you).
I make well into six figures and am single.
My standard deduction might increase to around $12.5k...if the Republican staffers can be believed.
My Mortgage Interest deduction exceeds that before any SALT is considered.
I am certain my taxes will go up, as will millions of those like me.
And we’ll work against Republicans every day from that day forward.
And I get it that you don’t care.
Why play confusing games with all these deduction changes? Just CUT SPENDING!!!!!!