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In reply to the discussion: Calculator to see how the "tax cut" bill will affect you. [View all]ProfessorGAC
(64,995 posts)25. Down
But, we've been in the same house for 30.25 years and paid off the mortgage 17 or 18 years ago. So we don't itemize.
People with high payments for taxes and interest are still going to get the shaft.
My decrease in taxes declines steadily until it becomes an increase in 2025.
So, while this plan personally benefits my wife and i slightly, i don't care. It's still bad fiscal policy, and i don't vote for only what is good for me. There's this whole "promote the general welfare" thing in the Constitution and i'm all in on that.
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my after-tax income increase is generally 1%, though negative after 10 years. yippee-do.
unblock
Dec 2017
#4
Am I the ONLY one with a tax increase? Very depressing. Misery loves company. nt
Honeycombe8
Dec 2017
#6
they actually backed off some aspects; fewer people will have tax increases than in earlier versions
unblock
Dec 2017
#10
The biggest hurt for me is the loss of deducting high sales tax in my parish.
Honeycombe8
Dec 2017
#8
Right, in those "high tax" states usually the sales tax and property tax aren't killers
uponit7771
Dec 2017
#23
There's not enough data for itemized deductions that's were they screwed people good
uponit7771
Dec 2017
#17
Same here, the calculator leaves out Texas with high property and sales taxes but no state income...
uponit7771
Dec 2017
#21
You have to have a kid to file as "head of household," I think. Don't you? nt
Honeycombe8
Dec 2017
#20
Right, word going around is they really screwed single working parents on this bill no matter what
uponit7771
Dec 2017
#38
I think you are doing something wrong. Even if you live in a high tax state, your taxes go down at
Hoyt
Dec 2017
#29
No. My income isn't high enough to give me a lower rate. Remember...this bill is
Honeycombe8
Dec 2017
#30
I see. Most folks in the lower income bracket don't itemize. I think that's the difference.
Hoyt
Dec 2017
#37
Overall our/my taxes go down by less than 1% until they go up by about 1.5%.
Freethinker65
Dec 2017
#31
Their goal was to force people to move from blue states to red states.
scheming daemons
Dec 2017
#33
Any calculation needs to include share of paying off the debt increase with interest.
L. Coyote
Dec 2017
#36
At least the mandate doesn't expire until 2019. Regarding Social Security & Medicare...
Honeycombe8
Dec 2017
#48