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Thread: How are you personally effected by the tax bill?

  1. #1
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    How are you personally effected by the tax bill?

    So, looking at all the hyperbole and outrage from the left, I thought it would be interesting to see how this tax bill is actually going to effect real people, not some hypotheticals. So, in my case, I will be getting $4,000+ more back in taxes. I'm no where near the 1% but am, in fact, a little below the middle point of middle class. So for for me this will be a benefit.

    How about everyone else?
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    Re: How are you personally effected by the tax bill?

    I'm looking at about +$300 dollars initially. I haven't seen a calculator for the coming years though.

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    Re: How are you personally effected by the tax bill?

    No direct effect unless Medicare premiums increase or Social Security retirement is cut due to the revenue shortfall. As far as indirect impacts (many other folks are getting a bit of a raise) it may help my self-employed handyman (off the books) income.
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    Re: How are you personally effected by the tax bill?

    Roughly $2,000 in taxes back.
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    Re: How are you personally effected by the tax bill?

    In the mid-high five digits at least.

    That said, I still think this tax bill is not in America's interests and will be a disastrous exploder of the debt/deficit with relatively little to show for it in terms of growth.
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    Re: How are you personally effected by the tax bill?

    Quote Originally Posted by Fishking View Post
    So, looking at all the hyperbole and outrage from the left, I thought it would be interesting to see how this tax bill is actually going to effect real people, not some hypotheticals. So, in my case, I will be getting $4,000+ more back in taxes. I'm no where near the 1% but am, in fact, a little below the middle point of middle class. So for for me this will be a benefit.

    How about everyone else?
    Well, I just spent the last 6 months planning a tax education seminar for this coming June and now need to change the whole damned program. My clients are emailing and calling to see how they are going to be hit or helped. I've gone through a couple of 40 page summaries today and started in on the whole 1100 pages of the bill. I'm not going to press that last one too much for now as what really matters is the Treasury Regs that will have to be written to explain the whole thing.

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