TAX REFORM MIGHT BE HIGHER TAXES FOR YOU NOW: IT WILL BE LATER

Posted on July 28, 2017

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WSJ: “If President Donald Trump sticks to what he has said, Americans earning between $149,400 and $307,900 are most likely to see an increase in their taxes as a result of tax reform.
Those figures come from a recent study by the Tax Policy Center, a nonpartisan group in Washington, and are based on Mr. Trump’s statements and proposals. The study concludes that nearly one-third of about 19 million households in that income range could see tax increases averaging from $3,000 to $4,000 a year.”

“By contrast, less than 10% of households earning the least or the most—below $25,000 or above $733,000—would owe more after a tax overhaul. Over all, the study found that about 20% of taxpayers would owe more after tax reform than before it.”

We do not have the details yet but in general, one goal of the plan is to provide people with an opportunity to grow wealth. After 8yrs of Obama the country is no longer is building new homes for new families, college graduates are living in their parent’s basements depleting their retirements and our taxes.

We will have to pay for this at some point if it is not corrected.


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WSJ- Bad News If You Make $150,000 to $300,000: Higher Taxes for Many

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Posted in: News, Politics