Quote:
Originally Posted by Huehuecoyotl
A slight issue with this bill is its effects are wildly variable depending on whoever's specific circumstances, so you'll find people whose tax burden drops substantially and others whose bill jumps up a lot based even if they're kind of the same from a distance.
Absolutely correct.
Basically low income families and middle class families with no dependent kids and/or who can't or don't shelter a lot of money pretax get ****ed.
Middle class with lots of dependent kids and/or a lot of pretax savings and of course the super rich people make out.
I'll save about $5000 on 2018 Federal taxes even living in a high property tax state and working in a high income tax state and losing those deductions. My effective federal tax rate (not including FICA) will be about 6.4%. It's really not fair at all to low income folks, but if I don't shelter that money pre-tax it's going to the Koch brothers, Blackwater, and Ratheon -- not poor people.