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They're raising them for everyone except the rich.

• lurr 9y ago
  I dunno, every calculator I've looked at says I get a bit back. But that's just for me, and it's the simplest look at the rules. I may get screwed on some other tax, others might as well. I also live in a state with no income tax. (WA)
  • losteric 9y ago
    Do think about whether lower taxes is even a good thing in the long-run. Accruing $1 trillion national debt just kicks the burden to the next generation, as does gutting public services to fill the gap. I also live in Washington, and honestly it's rather disgusting that we don't pay any income tax... our overreliance on property taxes is inefficient and leads to systemic funding problems for some programs.
    • lurr 9y ago
      > Do think about whether lower taxes is even a good thing in the long-run. I didn't realize I in any way implied I'm in favour of the tax bill.
• adventured 9y ago
  That's blatantly false. They're doubling the standard deduction, which will cut taxes for the majority of all middle-class tax payers. Most of the middle class pays no or little in the way of net income taxes as it is, with 85%-90% of all income taxes being paid by the top 20% income bracket. The tax cuts the middle class will receive, will drive their net income taxes that much closer to zero. 85% of all the value of the SALT / local income tax deduction goes to people making over $100,000 per year. 97% of all home owners own homes worth less than the new proposed cap on mortgage interest deduction. Both of those tax increases will almost exclusively hit well-off people.
  • grey-sunshine 9y ago
    I think he was being sarcastic.