09-28-2017, 11:52 AM
On the surface, it looks like more of the same that's been happening since the 80s: taxes going down on lower and upper classes, middle classes taking a bigger hit.
Sole proprietor businesses look to take a big hit, while corporations are getting lowered.
But a lot can change before it actually comes to fruition. MY guess, many of the proposed cuts will get taken out, and so will the initial exemption for middle class earners (right now, yourfirst $12k is tax free, the rest of it gets taxed at a higher rate). I think they'll pick through that number and see how much money they're going to lose.
So, in the end, I think we'll have another budget of spending we can't afford with tax cuts to upper and lower brackets that they don't need.
Sole proprietor businesses look to take a big hit, while corporations are getting lowered.
But a lot can change before it actually comes to fruition. MY guess, many of the proposed cuts will get taken out, and so will the initial exemption for middle class earners (right now, yourfirst $12k is tax free, the rest of it gets taxed at a higher rate). I think they'll pick through that number and see how much money they're going to lose.
So, in the end, I think we'll have another budget of spending we can't afford with tax cuts to upper and lower brackets that they don't need.
![[Image: 4CV0TeR.png]](https://i.imgur.com/4CV0TeR.png)
