Trump's Tax Plan

[Luvnit2]

(09-28-2017, 11:52 AM)Benton Wrote: 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.

Really, the proposal is to increase zero tax for an individual to $12,000 and a family $24,000. That is all for the lower income group and could beneift some in the middle class as well. They are keeping the home mortgage deduction, but eliminating a lot of deductions the rich can take as well.

The small business owners are being killed (middle class by the way) with the current tax structure so hopefully this will give t hem some relief as well.

It confuses me when citizens take the bait to keep being the one of the highest taxed nations in the world versus attempting to lower taxes and curb wasteful spending like 135 billion a year on illegal immigration.