Middle income tax increase. Suckers!

[Old Rocks]

Analysis: For some in middle class, Trump plan would mean tax increase

Analysis: For some in middle class, Trump plan would mean tax increase


Suckers! Millionaires get multi-million dollar tax cut, you pay more. LOL

 

[ABikerSailor]

Hey...........under Jr. the wealthy got several tax cuts of several percentage points.

What did the rest of us get? A one time 300 dollar check.

Mark my words....................when tax time comes around in 2018, most people are going to see a tax increase.

 

[TooTall]

Hey...........under Jr. the wealthy got several tax cuts of several percentage points.

What did the rest of us get? A one time 300 dollar check.

Mark my words....................when tax time comes around in 2018, most people are going to see a tax increase.

Did you see anything in these Bush tax cuts that lowered middle class taxpayers taxes?

"The Bush tax cuts reduced the then 39.6 percent rate to 35 percent, the 36 percent rate to 33 percent, the 31 percent rate to 28 percent, and the 28 percent rate to 25 percent. It created a new 10 percent bracket, and there was no change to the 15 percent rate.

• They doubled the child tax credit from $500 to $1,000;
• They reduced the marriage penalty by doubling the standard deduction for married filers compared to single filers and doubling the income threshold for the 15 percent bracket for married filers compared to single filers;
• They increased the earned income tax credit (EITC);
• They raised the annual contribution limit for Coverdell education savings accounts to $2,000 per year and relaxed other limitations;
• They extended the exclusion for employer-provided educational assistance;
• They eliminated the 60-month rule and the disallowance for voluntary payments for the student loan deduction;
• They eliminated tax on certain scholarships;
• They reduced taxes on bonds for school construction;
• They increased the dependent care tax credit;
• They increased the adoption credit;
• They provided credit for employer-provided child care; and
• They changed tax treatment of Alaska Native Settlement Trusts."