The GOP tax bill would collapse the current seven individual tax brackets into four: 12%, 25%, 35% and 39.6%. http://on.wsj.com/2zrtOQ6 pic.twitter.com/1jRiOhQwTx
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You can follow our live coverage of the GOP tax bill here:http://on.wsj.com/2zr5D4n
This is deceiving, this is upper-middle, not high income people. Hope all you WSJ people based in NY enjoy not deducting state income tax!
But some of what they make below the margin might get taxed less, so really depends how much they make over the margin.
With more deductions for rich means they keep more.
Hits the pockets of many two-income families that wouldn't consider themselves upper-income households - just middle class!
Bill is really hard on middle class in high cost states. What's the mortgage on a $1m shoebox in SF, LA, NY. Why punish most productive?
When GOP says they must cut taxes before the election because of their base they mean the rich oligarchs, not workers.pic.twitter.com/yPS8eOuXD0
And we tend to live in Blue states w income tax, so really stoked to pay more taxes. Thanks Don. Glad your family gets to benefit.
Remember when Obama wanted rich people to pay their fair share? Well, now that will happen!!!
Bill is really hard on middle class in high cost states. What's the mortgage on a $1m shoebox in SF, LA, NY. Why punish most productive?
2-3% differential for most brackets, but a hefty double digit break for most companies and the wealthy. It's a tax cut for the rich.
Well, the corp tax rate is dropping 35-20 double d, and the estate tax and AMT are eliminated. Bounces you to over a 10% cut. I am jealous
Hope the new credits balance out the no-tax cuts for the upper middle class.
Remember when Obama was saying that the rich had to pay their fair share, well, now they will!!!
@GOP Your tax plan sucks!
At that rate you have lots of write offs
Yes!!! NO GOOD!! We can't afford to pay more and we are NOT THE RICH in America!!! @CGasparino only one talking about it!!
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