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Millions of Households Face Tax Increase or No Tax Benefit Under Senate GOP Bill


#1

Millions of Households Face Tax Increase or No Tax Benefit Under Senate GOP Bill

Chye-Ching Huang

When all the bill’s individual income tax provisions are in place, about 79 million households with incomes below $200,000 would either lose or gain little from the Senate bill


#2

Although they tend to ignore me, I might ask my Democratic representatives to do this:

Publish a provisional 1040 based on what the tax bill would do. Post it online, and when people file their 2017 taxes, use the same exact data to show what their tax bill WOULD be under the Republican plan.


#3

What control of Congress & the POTUS by one party bringeth, control by the other party can taketh away. I say leave the new standard deduction in place, but bring back the deductions (which BTW would not be worth as much because of that standard deduction) and the old tax tables. Then not only repeal the tax cuts for the wealthy, but add a surcharge to make up for the loss of revenue caused by this new tax bill for being on the books for a few years.