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| Topic | CBS tests the Trump tax cuts for various taxpayers - everyone saves thousands! |
| metroid composite 12/31/17 4:38:19 PM #29: | Vlado posted... https://twitter.com/charliekirk11/status/946140500620468224 Ok, for starters, might as well link the full clip, since the tweet ends early before the third family is shown: https://www.cbsnews.com/news/how-the-tax-bill-will-affect-three-american-families/ That said, there's some very specific points in the tax bill I take issue with. For example, it gets rid of the state and local tax deduction. Hence people in states with high tax from their state will get additional taxes. One of the three examples given here was in a high taxed state (California) but the example they give is a family earning over $300,000, and the tax breaks are larger in that salary range. My guess is that with the median household income in California being $60,000, a number of people will end up paying more. For a more detailed analysis, NYT did a case study involving 220,000 people instead of three: https://www.nytimes.com/interactive/2017/12/17/upshot/tax-calculator.html It finds similar results (most but not all people will be paying less--75% pay less, 25% pay more). ------------ All that being said, sure, everyone likes getting more money; maybe I'll get less money cause I live in California, but I haven't filed my taxes yet so I'm not sure yet. That said, look, giving people some extra money is the nice upside of the bill, but this upside isn't free. The bill does have downsides, like being projected to add $1.5 trillion to the US debt. --- Cats land on their feet. Toast lands peanut butter side down. A cat with toast strapped to its back will hover above the ground in a state of quantum indecision ... Copied to Clipboard! |
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