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Politics : The Trump Presidency -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (148828)	1/3/2020 5:21:47 PM
From: J_F_Shepard	Read Replies (1) \| Respond to of 355831

I learned 40 years ago that few people can tell you anything about their tax circumstances or that of their neighbors. On this point I will agree with you and extend that observation to say that very few people can tell you anything about anything... My guess would be you can't define "tax increase" in a sensible manner, let alone identify one. And your guess would be dead wrong......eg, I have never used a tax preparer including many years when I had to deal with a K-1 form.... So for those of you who don't have to pay SALT taxes, take it from me that the limitation to 10,000 for same has cost me 8,000 in deductions... What we know, actually for real, is that 65% of Americans got tax cuts. Most of the rest already either paid essentially zero or received net refundable credits. You never told me if you got a tax cut? Why? 2. Promise: The middle class will benefit. Yes, the vast majority of Americans — 65 percent — did get a tax cut. Looking specifically at the middle class, the Tax Policy Center predicted that 82 percent of middle-class earners (households who make $49,000 to $86,000 a year) would receive a tax cut averaging about $1,050. The data out so far backs up the estimates. H&R Block said that among the millions of tax returns it processed by the end of March, the average tax cut was $1,200. (It’s also true not everyone is celebrating. About 9 percent of middle-income families had to pay more, and the rest paid about the same in taxes, according to the Tax Policy Center.) washingtonpost.com