BREAKING: Pres. Trump's tax reform plan includes doubling standard deduction, repealing death tax and reducing 7 tax brackets to 3 brackets.pic.twitter.com/fBJFy3xxN0
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MORE: Trump administration’s tax plan repeals the Alternative Minimum Tax, the death tax and the 3.8% Obamacare tax. http://abcn.ws/2k57DU9 pic.twitter.com/dFv4SChmTY
White House unveils tax reform plan with cuts in federal taxes for businesses; aims to simplify code for individuals http://abcn.ws/2q8pEaU pic.twitter.com/QTVnet76xK
Our government sucks BIG time! Our country is in distress!
Thanks to Barry! 8 years dude!
If higher standard comes w/ elimination of Pers Exemptions middle class w/ kids lose again! 'Simplification' sounds like no deductions
did it say personal exemptions would be eliminated?
All personal deductions will be eliminated except mortgage interest and charitable giving. Upper 2 tax rates are still too high.
personal deductions ok, most ppl don't itemize anyways. tax rates may be high, but what are the income brackets?
People with small businesses use personal deductions a lot, no? They help with office expenses.
Yes, I run a small business so this would suck for me.
Right, especially people who work from home and maintain a separate work space.
if you run a small business you run the expenses through your SchC, not considered a personal deduction, zero impact on the business
Awful, awful idea. This is what destroyed the middle class in the 1980s.
The top income tax bracket in 1929? 25%
At least Hoover had the sense God gave a billy goat to not tax someone earning $2000 a yr at the same rate as someone earning $50,000 a yr.
why not? Let's say everyone owes 15% no matter what. People who don't make much don't pay much and people who make a lot pay a lot. 1
2 plus no loopholes people complain about. We continue to have money taken from paychecks as now, so you could almost eliminate the irs 2
3 saving the gov a huge amount of money and people who make a lot will know exactly how much investments can return. 3
If you want to save the gov a lot of money, get @FLOTUS to haul her ass to D.C.
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