Subject: Re: Big Fat Dem Lies....
On Wednesday, December 6, 2017 at 5:02:41 PM UTC-5, Dene wrote:
> ...3-4 Pinocchios for the big fat Dem liars...
Was that before or after the update?
What the update makes clear is that this provision is a boon
to private jet owners,but it isn't pedantically a "tax break".
What it is is a Congressional order to reverse an IRS ruling
on taxes owed to now no longer be owed. As such, the bottom
line is more money in the pockets of private jet owners.
> BTW...I'm middle class and I'm getting a nice tax cut.
As per my model, I'm getting a cut too - - at least for
the first seven (7) years.
I looked beyond that, to after Year 7, when the reduced
individual rates are set to expire. At that point, its
a tax increase.
And those increases are big enough that after another seven
(7) years, they've completely offset (wiped out) the initial
.... which wasn't really all savings in the first place, because
of the bill's deliberate increase in the National Debt that's
mostly a $Trillion in "borrow and spend".
> Furthermore, it may be simple enough that I can do my own
> taxes. That alone saves me $1500.
Is that because you'll be taking the Std Deduction instead of
doing the Schedule A, so you'll probably simplify to a 1040EZ?