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- #41
The Family of Four Example was touted by GOP Speaker, "Rotten Ryan," of the usual appellations in the Trump Administration. At the time, there were no actual details of the plan from any of the Trump Family Zingers, being released, (of the usual appellations in the Trump Administration).
Soon the Republicans were losing traction in elections even in the Solid Red areas.
Then Senator Rubio focused on some changes. Then there happened Dec 22, 2017: Another Day that Shall Live In Infamy! So there are emerging now public details of what was in the final Tax revision plan that got signed.
It Famously fails--like Bush II Tax Cuts I and II--to offer much of a Stimulus, there being an actual lack of any tax cuts for about 1/2 of filers. There is only a slight raise in the Refundable per child tax credit, for example.
So back to "Rotten Ryan's" initial example of pre-Turkey-Day, 2017. For 2017, we already know that the Family of four with $60,000 gets a $12,700 Standard Deduction for 2017, $16,200 Personal Exemptions for 2017, an IRA Contribution Deduction of $5,500 for 2017. So Married Filing Jointly have a federal tax liability of slightly more than $2000. $2000 is erased with the per child tax credit. Any balance is erased on Form 1040 in the Payments section, the ACA credit.
Zero Federal Tax Liability for 2017 is matched with Zero Tax Liability for 2018.
There would be said no Middle Class Tax Cut, A deal from the Trump Family Zingers!
"Crow, James Crow: Shaken, Not Stirred!"
(Great Superstition-Maker, An Educated Prince of Imperial Egypt, (Acts 7:22), Actually screwed everyone up even worse! than "Rotten Ryan," who seems to be on board with the appellation-making Trump Family Zingers!)
Soon the Republicans were losing traction in elections even in the Solid Red areas.
Then Senator Rubio focused on some changes. Then there happened Dec 22, 2017: Another Day that Shall Live In Infamy! So there are emerging now public details of what was in the final Tax revision plan that got signed.
It Famously fails--like Bush II Tax Cuts I and II--to offer much of a Stimulus, there being an actual lack of any tax cuts for about 1/2 of filers. There is only a slight raise in the Refundable per child tax credit, for example.
So back to "Rotten Ryan's" initial example of pre-Turkey-Day, 2017. For 2017, we already know that the Family of four with $60,000 gets a $12,700 Standard Deduction for 2017, $16,200 Personal Exemptions for 2017, an IRA Contribution Deduction of $5,500 for 2017. So Married Filing Jointly have a federal tax liability of slightly more than $2000. $2000 is erased with the per child tax credit. Any balance is erased on Form 1040 in the Payments section, the ACA credit.
Zero Federal Tax Liability for 2017 is matched with Zero Tax Liability for 2018.
There would be said no Middle Class Tax Cut, A deal from the Trump Family Zingers!
"Crow, James Crow: Shaken, Not Stirred!"
(Great Superstition-Maker, An Educated Prince of Imperial Egypt, (Acts 7:22), Actually screwed everyone up even worse! than "Rotten Ryan," who seems to be on board with the appellation-making Trump Family Zingers!)