Tax bill

[Schneed10]

Important to note though that the calculator is intentionally simplifying things to make it digestible. Here's where there's some nuance:

- if you live in a state where there are high local taxes (at the state or local level), you're going to get hurt because it caps the deductions you can take for these if you're itemizing. Strategically smart for the GOP to hit these people because they weren't likely to vote GOP anyway.

- If you are single with no kids, you're much more likely to get hurt than you are if you're married with kids. The family and child tax credits are what causes most in the lower to middle income brackets to get any benefit. If you don't have walking tax deductions then you are more likely to get stung.

- If you own stock, have parents that may soon pass an inheritance down to you, or have real estate investments you stand to benefit significantly. Lower corporate taxes, lower estate taxes, and the elimination on certain real estate taxes.

- If you're in the 95th - 99th percentile in terms of household income, you make out better on a % basis than any other income group.