Quote:
Originally Posted by Schneed10
About 3 out of 4 Americans will see their taxes go down.
I like it. Wish it helped the middle class more than it helps the wealthy, but help is help. I'd like it even more if they would now look at spending and cut that down so that our deficit doesn't get bigger.
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Just playing with the calculator, it seemed like it was fairly across the board that people will see their taxes go down and after tax income go up. I think it's common sense that people making under 20K aren't paying into the system, but they still see some increase with the refundable credits, and the very top sees little percentage gain according to the linked calculator, but of course 1/2 % of 500K ($2500) is still more than 4% of 50K($2000), but the $2000 will mean more to the guy earning 50K than 2500 does to a guy making 500K