BREAKING NEWS President Trump proposed a plan to sharply lower individual tax rates, eliminate most deductions and drop the alternative minimum tax
President Trump proposed sharp reductions in both individual and corporate income tax rates, reducing the number of individual income tax brackets to three — 10 percent, 25 percent and 35 percent — and easing the tax burden on most Americans, including the rich.
There ha to be a catch, just wait for it!!!!! Just like with their revised Obama bin laden care package, all they did was change who you paid the tax to, as if you would not know other wise, so instead of the govt getting the money the insurance company's will collect it... But you people are to dumb to know any better or to research anything and you can;t seem to figure out the hidden messages and back doors of these legislation...
It sounds like I would still be paying the same, and my 21 year old son may do a little better by $1k. Helps with minimum wage and +$ lower wage earners who really need it to maybe get out on their own someday.
Simplifying the process is YUGE, and that helps with filing fees. At least he's working in the right direction.
Not going to help the middle class much other than possibly eliminate the need to long file if using the increased standard deduction. Estate tax kicks in a 5 million, AMT hits those with >$200K and lots of deductions and the jump for 10 to 25% hurts if you just hit the target for 25%.
Allowing companies to bring back foreign money without penalty (amnesty) would spur R&D - growth.
Remember, this is a plan/proposal and not guaranteed to be what eventually gets passed. Don't go getting all worked up over it.
Sounds like a plan.
ReplyDeleteThere ha to be a catch, just wait for it!!!!! Just like with their revised Obama bin laden care package, all they did was change who you paid the tax to, as if you would not know other wise, so instead of the govt getting the money the insurance company's will collect it... But you people are to dumb to know any better or to research anything and you can;t seem to figure out the hidden messages and back doors of these legislation...
ReplyDeleteThis is AWESOME but nazi democrats will block it.
ReplyDelete3:13 When you call us all stupid you should probably attempt to use some decent grammar and spelling-just a thought genius!
ReplyDeleteLower taxes??? I will bet a month's salary that not one democrat will support this!
ReplyDeleteThey didn't simplify the tax laws, they didn't eliminate the IRS, this is still the same old government shell game!
ReplyDeleteTrump campaigned on this tax law. He never mentioned eliminating IRS and it saves money. YOU didn't vote Trump so why do you care?
DeleteIt sounds like I would still be paying the same, and my 21 year old son may do a little better by $1k. Helps with minimum wage and +$ lower wage earners who really need it to maybe get out on their own someday.
ReplyDeleteSimplifying the process is YUGE, and that helps with filing fees. At least he's working in the right direction.
Thank you, Mr. President!
I agree.
DeleteNot going to help the middle class much other than possibly eliminate the need to long file if using the increased standard deduction. Estate tax kicks in a 5 million, AMT hits those with >$200K and lots of deductions and the jump for 10 to 25% hurts if you just hit the target for 25%.
ReplyDeleteAllowing companies to bring back foreign money without penalty (amnesty) would spur R&D - growth.
Remember, this is a plan/proposal and not guaranteed to be what eventually gets passed. Don't go getting all worked up over it.