Family of 4

>family of 4
>make 70,000 combined
>pay 10% more in taxes

Defend this you degenerate faggots.

It's okay. The wealth will trickle down.

There’s nothing wrong with middle class tax increases.

>Trump reveals his tax plan
>Literally the most important thing in politics
>Nobody gives a fuck and thread is barren

Come on burger fags! Did you lost anything or do you won anything?

Person making 1,000,000 gets 40,000 tax decrease.

Person making 70,000 gets 10% tax increase.

>republican economics

>*did you win

No one on this board has ever paid income taxes.

It doesnt matter. That means you are dependent on others which means you do pay taxes "by proxy".

Unless you’re on welfare.

They don’t know any better.

It looks like, since I don't have any kids and am in the 25% bracket, I will save about $500 in taxes. I assume the brackets are changing too, though, so I guess I'll have to see.

Is there a calculator that I can test mine?

Do you itemize or use a standard deduction?

standard

>amerifats pay $4000 yearly taxes on $70k
That’s less than what I pay in a month

Is you’re married maybe. I’m single, make 63,000 and pay almost 12,000/year in taxes.

>living in a blue state
Hahahahahah!

>paying over $48000/year on $70000

lol god niggers suck. If they're not working real jobs now, they never will. Milk the weak.

yea we pay a shitton leafbro. I crossed over the 89k bracket a few years ago. It's lame. Gf makes 75, I make 102. That equates to only about 200 more a week. Because of reasons.

Do you have any kids or married?

Sometimes I think we ought to get rid of deductions altogether and then lower the tax rate since you'd collect the full amount. Probably that's a really stupid idea though. I'm not an economist after all.

Standard might be doubled which makes itemizing a bit of a waste of time

Jesus Christ and I thought we had it bad here in California.
Sorry, Leaf, know that some Americans respect your struggle

no

I make slightly over $100k. I could make more with overtime but I always turn it down because government takes more than half of it.

Have the incomes for the tax brackets been defined yet?

Your numbers are horse shit. The child tax credit should be $3500 and you are not counting a home mortgage interest deduction among other things. Stop being a dumb ass and embrace having more money in your pocket faggot.

So your taxes might go down.

No.

MAGA

>no property tax deductions
>more money

Enjoy the collapse of the housing market 2.0.

/thread

How the fuck do two CHILDREN have four grand in personal deductions each?

A family of 4 making 70K isn't going to (legally, without fraud) have 16K in personal deductions. They might have some mortgage interest, but that's not going anywhere.

That's the lie in this. No one at that bracket is claiming that many deductions.

Then how does OP know that family will lose money?

WRONG. The mortgage interest deduction IS STILL IN the tax code. The major Real Estate companies have ENDORSED the new tax plan. Stop being blinded by your politics and realize that the Dems do not want a tax break. They want to keep paying for their "freebies" that the middle class WILL NEVER SEE.

He doesnt. He is a liberal/Dem that wants to state things that are bullshit. It is what liberals do.

He doesn't.

>property tax deductions aren’t
>muh banks

That’s the standard deduction you idiot.

Everyone gets it.

>288 dollars more.
That's less then a dollar a day. Fucking cut some shit you don't need in your life.

>288$ from your pocket to a kike
>good goy

>t. Billionaire who gets to keep his shekels
God. Poor people should just die, amirite?

Are they not also lowering the tax rate?

For the rich, lower.

For the middle class(70k-200k), most higher.

For the poor, lower.

How much do you get paid to post here?

That's the new standard deduction

The intent is to condense the tax rates to 12, 25, and 35%. While that alone means an increased tax rate for the bottom bracket, their standard deduction goes from $6,300 to $12,000 single.

>middle class pays for poor/rich tax cuts

Same as always.

>i'm such an expert on taxation, i can tell you what's going to happen with only half the required information

>Left fags want more taxes, get mad when there more.
Makes me think.

Hey guys, there's a new tax plan, so we dound a scenario in which someone might see a minor increase in their taxes, assuming no changes in behavior. That means YOUR taxes are definitely going up! BTFO, drumpfkins!

>drumpkins this delusional

This isn’t even the tip of the iceberg. It’s just a married family with two kids.

>yes yes goy. Nevermind my $40,000 tax cut, you're only going to be seeing a minor tax increase

you can cherry pick all you want the fact is they hid the location of this tax increase for a reason

i.e most likely california so nobody cares

This. A family of 4 would have to be investing basically every penny into a IRA (outside of living expenses). Also the mortgage interest deduction is still in the law apparently.

The tax will be primarily on people making between 70-150k that have kids and own a house.

I can imagine a family of 5 making 130k living in LA or NY with a mortgage have a 10,000 tax increase.

good nobody cares but those living in LA and NY then.

Ok buddy. Your happy with middle class people’s tax dollars getting funneled to billionaires.

The rest of us rational people aren’t.

mine go down in Florida and like any sane person i don't give a shit about your situation

you do you

>can’t separate right and wrong without involving his personal outcome
>burger

This is why this country is going down the drain.

no its going down the drain cause you fucks worry about other people's problems

i.e liberal retards

It's 8.8% not 10.
288$ is rounding error. That's not even a car payment. No one is going to cry about 300$ when you make 70k.

How about we eliminate income tax and go back to a tariff based taxation to fund the federal government?

Because your economy will evaporate overnight?

>federal government raising my taxes
>worried about other people’s problems

Are you genuinely retarded?

iPhones will be 30% more expensive and the globalist slave masters will be forced to move their factories back to America.

What a terrible thing for the average American.

ITT: Retarded autists talking about tax code when most of them have no idea what they're talking about.

Right. The new standard deduction is higher than the REAL deduction people under 150K-ish were taking before.

>being this delusional

State income tax deduction
Property tax deduction
Mortgage interest deduction
Medical/Dental deduction

I pulled out my taxes from last year (60k) and you're full of shit. I'd save about $800.

>60k single

No one said your taxes would increase.

Shut up faggot, you don't know what you're talking about.

WORK

WORK HARDER YOU ANIMAL

Nice shit math. Durr Durr no child credit increase Durr Durr.

The increase would drop their bill 750 or 1000 - increase.

Durr Durr maths