4 ms·
Any time you hear about some new deduction going away (such as this), ask "Does doubling the standard deduction create a net positive affect for person X?" Alm
by matt_wulfeck 9y ago
Any time you hear about some new deduction going away (such as this), ask "Does doubling the standard deduction create a net positive affect for person X?"
Almost always the answer will be yes. We need a simpler tax system. This is coming from someone who will be net-negative from these changes. I can't help but support it.
- pishpash 9y agoThe proposals that have so far come out are not substantially simpler. It's a little redistribution here and there but not nearly dramatic enough to be called a "simpler tax system."
- matt_wulfeck 9y agoI agree in part, mostly because I think calling it "tax cuts" is misleading since what is really being cut? That being said, it's easy to predict the number of people taking the standard deduction is going to go way up.
- deleted 9y ago[deleted]
- throwawayjava 9y agoNo, not even close. We're taking about mid four figures decrease in take home pay for people making 30k. It's a double digit tax hike on grad students.