The Trump tax plan really ****s single filers:
Bracket | 2015 IRS | Trump |
0-9k | 10% | 12% |
9k-37k | 15% | 12% |
37k-91k | 25% | 25% |
91k-113k | 28% | 25% |
113k-189k | 28% | 33% |
189k-411k | 33% | 33% |
411k-413k | 35% | 33% |
413k+ | 39.6% | 33% |
Single filers who used to pay 28% on income from $112k-$189k would pay 33% in his plan, but rich people get a nice 6% cut over 400k. Trump truly a man of the common people.
Standard deduction is increased from $6,300 to $15,000 for single filers, which helps a little bit but I think you'd wind up paying about $1k more in taxes on income of $190k despite that.
For married filing jointly, it's a bit better:
Bracket | 2015 IRS | Trump |
0-18k | 10% | 12% |
18k-75k | 15% | 12% |
75k-151k | 25% | 25% |
151k-225k | 28% | 25% |
225k-230k | 28% | 33% |
230k-412k | 33% | 33% |
412k-465k | 35% | 33% |
465k+ | 39.6% | 33% |
Plus a 17k increase in the standard deduction.