Quote:
Originally Posted by Rochard
I stand corrected. Turns out a lot more people than I ever imagined do not pay taxes.
But many of those families already pay no federal taxes. Roughly 45% of American households will not owe any federal income taxes this year under the existing tax code, according to Tax Policy Center estimates. Trump said his plan will ensure a slightly larger share -- more than 50% of households -- pay no federal income tax.
"Some of what Mr. Trump has done in his press conference is just sell us on one of the better features of what our income tax already does," said Alan Cole, an economist at the Tax Foundation. "It will probably add to the number of people who don't have to pay any income tax. That was already true of many people and he's just expanding the number of people."
Business as usual for politics.
( news linkie) |
Yes about half the country will only save $1k a year in taxes, plus the cost of filing and stress etc. They would have to send in a one page piece of paper.
The big break for the middle class is families with $50-100k in earnings. They would pay 10%. That is a big savings. Currently if you make just under $19k a year you pay 10%.