There is a lot of confusion regarding the new Republican many biased sources are painting the bill as something it is not. So…
What is it?
The new Republican plan titled the “Tax Cuts And Jobs Act” is about just that, cutting over 1.5 trillion of private revenue and putting it back in our pockets. This is essentially stopping 1.5 trillion dollars over the next 10 years from being wasted in the public sector and allowing it to stay in the private sector for job growth and life improvement.
The tax bill will cut taxes and eliminate many tax deductions to streamline the taxation system. The goal is to create a system where someone can do their taxes on the back of a note card. While many deductions will be erased they most likely won’t be erased since the standard deduction will be nearly doubled for both individual ($6.35k-$12k) and joint ($12.7k-$24k) filers.
How Will This Affect You?
This is difficult to illustrate but Unbiased America has done a very good job of it. In two different posts which are below. Even farther below that is a link to the most simple tax calculator I’ve been able to find by Maxim Lott. When you’ve done all that make sure to vote in our poll about how this plan is affecting you.
For Individual Filers
For Joint Filers
To See Your Exact Savings Click Below
If that link is not working use this URL directly –> (http://www.taxplancalculator.com)
Hopefully, this post helped. Make sure to vote in the poll below and share this post to help others understand the new tax plan. Finally, make sure to like Unbiased America on Facebook & follow Maxim Lott on Twitter to thank them for their awesome work!