Message from tsuke in The Right Server #serious_chat
And it simplifies tax codes
Saves time and money
like for personal income tak
Don't most of middle class have houses?
upper middle class now
Although I"m a little gray on what middle class truly is
the way i understand it is you have income subtract standardized deduction and then thats it. If that doubles under trump then thats amazing (from 6000 to 12000)
Middle class bracket also goes from 28% to 25% I think
now media is saying its actually income - standardized deduction - personalized exemption
so your already subtracting more than 10000 by default without the trump change
I am pretty sure most middle classes people were not taking standard deduction, and were itieising instead
no. 70% of americans took standard deduction last year
which is why increasing it is awesome
2013 so not very recent, about 50% of "middle class"
in 2013 i believe the irs said 63% took standardized deductions
so is there a personal exemption you can take in addition to standard?
my understanding is once you tak standard thats it your done
I probably itemize right now
Although the only deduction I can take is my mortgage
so there no personal exemption that u take?
ok media is wrong then the trump plan is awesome 😃
I don't get to claim a lot of personal exemptions
I get my 2500/year claim for student loans
And I'm not even sure that actually does anything fo rme
The normal stuff that people itemize (kids, kidcare, health costs, etc) I have none of
Trump’s tax plan makes sense if a fair tax/flat rate were passed
It is a lovely morning
nice box m8
Liberal > Kekistan
but come on they have a sweet flag
I would love to have a flat tax passed in the USA
with possible tax reductions for groups that are in very desperate poverty
(if they are employed, no free gives)
What do you think about the new tax plan?