Good. I am happy for you.
It would be nice if the GOP wrote a tax law where that kind of savings translated to Americans across the board.
But they didn't. They picked winners and losers. This isn't how Reagan approached tax cuts. He made them across the board.
In order to cut the corporate rate from 35% to 20%, the GOP needs somewhere on the order of another $1.5 Trillion that is supposed to come from eliminating deductions (medial expenses, disaster relief, property taxes, etc).
Take the state, local, and property tax deduction: that one seems to be one that they refuse to take out of the equation. You know why? Because they need to Trillions from Americans in order to "pay for" giving the corporations a fat tax cut.
People in states like CA, MA, CT, NJ, NY, IL will be taxed more on the money they already pay on taxes, so that the corporations and rich donors will be happy.
Where is Trump in all of this? I don't see his leadership. He asked for the corporate rate cut, but he has allowed Paul Ryan and Mitch McConnell to play fiddle with their donors and K Street, while millions of his supporters are about to get the shaft.
Could you please run through a tax calculator and tell us just how much worse it is for you? It was your posts that made me check it out.
All taxation is theft. Just because government is stealing more from someone else doesn’t make me feel better.
Skypilot, I am an Illinois resident.
Don’t give me cr@p about your state. My state is worse.