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To: Scotswife

“and now - no matter where I go - my new bill will increase by at least $2700.”

Could you explain in detail, since tax rates are going down and the standard deduction is being doubled.


262 posted on 11/21/2017 1:13:27 PM PST by rbmillerjr (Reagan conservative: All 3 Pillars)
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To: rbmillerjr

I’m going by the first proposal where personal/dependent exemptions are eliminated and income over $90k falls into the 25% bracket.
Take 7 family members times the personal exemption of $4100 and add that back into taxable income.
On top of that - they are eliminating the college credits.

They may tweak the brackets still - so I am estimating of course.
Doubling the standard does not offset that large increase in taxable income.


302 posted on 11/21/2017 3:22:54 PM PST by Scotswife
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