A Detailed Breakdown of the Tax Bill

[longknife]

No matter what’s in this article, The DemocRATs will do everything they can to tell the world how terrible it is.

Highlights of the Tax Cuts and Jobs Act:

Lowers individual taxes and sets the rates at 0%, 10%, 12%, 22%, 24%, 32%, 35%, and 37% so people can keep more of their hard-earned money.

Significantly increases the standard deduction to protect roughly double the amount of what you earn each year from taxes – from $6,500 and $13,000 under current law to $12,000 and $24,000 for individuals and married couples, respectively.

Continues to allow people to write off the cost of state and local taxes – up to $10,000. Gives individuals and families the ability to deduct property taxes and income – or sales – taxes to best fit their unique circumstances.

Takes action to support more American families by:

For job creators of all sizes, the Tax Cuts and Jobs Act:

Delivers significant tax relief to Main Street job creators by:

Preserves important elements of the existing business tax system, including:

For greater American energy security and economic growth, the Tax Cuts and Jobs Act:

Significantly boosts American energy production. Responsible development in the 1002 Area will raise tens of billions of dollars for deficit reduction in the decades to come, while creating thousands of new jobs, reducing our dependence on foreign oil, and helping to keep energy affordable for American families and businesses.

Details @ Here's Graves' Super-Detailed Breakdown Of What's In The Tax Reform Bill

Commentary: 5 things you need to know about the Republicans’ Tax Cuts and Jobs Act @ Commentary: 5 things you need to know about the Republicans’ Tax Cuts and Jobs Act

 

[Penelope]

Well lets see if you give companies (including oil, NG and coal) free rein to do whatever they want, and also banks, yes they probably do plan on doing whatever they want as long as they can.

 

[Penelope]

I will be calling it Trump and the Pubs Tax Act from now on. Give credit to where credit is due. Is he too ashamed to put his name on it.

 

[Rustic]

Well lets see if you give companies (including oil, NG and coal) free rein to do whatever they want, and also banks, yes they probably do plan on doing whatever they want as long as they can.

Drill baby drill

 

[Rexx Taylor]

Well lets see if you give companies (including oil, NG and coal) free rein to do whatever they want, and also banks, yes they probably do plan on doing whatever they want as long as they can.

Drill baby drill

Warren: This is just a tax cut for the rich! if this bill passes, all of those money grabbers on wall street will just use their tax cuts to buy homes from the poor and middle class, then flip them to make a profit, and then find a way never to pay any taxes on the profit !!!