Here's how the Trump tax plan would raise taxes on many middle-income families

[n2doc]

Asked Thursday about whether the Republican tax plan would cut taxes on the wealthy, top White House economic adviser Gary Cohn said he didn't think Americans would care what happened to other people's taxes — they would care about getting a tax cut for themselves.

Cohn said a "typical" American family making around $100,000 would get a tax break of about $1,000.

"If we allow a family to keep another $1,000 of their income, what does that mean?" he asked. "They can renovate their kitchen, they can buy a new car, they can take a family vacation, they can increase their lifestyle."

So. About that.

While there are still a lot of details to be filled in, the information we have available suggests the new Republican tax proposal would raise income taxes on many families who make just a bit more than the national average.

more
http://www.businessinsider.com/trump-tax-plan-raise-taxes-middle-income-families-2017-9?r=US&IR=T

And while those making less may feel the urge to be smug about all this, remember they aren't finished with the plan. It is quite likely that other folks making less will get hosed before this is all said and done.

[no_hypocrisy]

1. What a "tax cut" would mean to this "middle income American family" in NJ:

A loss of nearly $13,000 for municipal taxes alone as a deduction. That's a tax increase. And we'd be losing more money as a deduction for NJ State taxes.

What that would realistically mean: No new car (value over $18,000), no new home renovations, another year without a vacation anywhere, personal budget cut-backs as far as food, travel, living expenses.

[llmart]

2. Hmmm...

Has anyone been able to renovate their kitchen for $1,000? If so, please let me know who did the work as from the stories I hear from people who have renovated their kitchens (or baths) it's closer to $10,000 or more.

What asses the Republicans are! And their followers believe this crap.

[cpamomfromtexas]

3. You are so right on that kitchen reno.

I am doing that now using sales, coupons, and other promos and it will still be over $14k

[Maeve]

5. Yeah and $1000 is a down-payment on a car, unless you buy really used

Plus, the 'typical' family makes half that $100,000....

[stopbush]

9. $1000 isn't enough to get you into a 3-year lease on a KIA.

Do you think Cohn has ever seen a barcode reader?

[dawg]

6. Kitchen renovation for less than $1,000 ...

[davekriss]

8. Funny!

But, yup, a typical renovation is around $15,000 or more where I live. And the average new car price is around $32,000. What a bunch of BS comes out of the mouths of Republicans. Makes me want to get my ears and eyes antiseptically cleaned every time they utter anything, as everything that comes out of their mouths is self-serving tripe that benefits the oligarchic overlords and diminishes our lives.

We really have been and still are being cyberattacked, and we - all of us not part of the oligarchy - are losing the war. McConnell knew, for example (or so I speculate), that's why we had Garland/Gorsuch, and that's why we had threats to Obama that if Obama spoke up about what we knew then of Russian cyberattacks, McConnell would frame it as a partisan attack meant to sure up Democratic candidacies. Not exactly a patriotic position there, Mitch! Lock 'em up, the whole bunch of traitorous a**holes now devastating our nation!

[llmart]

10. Yep.

But many of the people who vote Republican are too willfully ignorant to see that they'll never benefit for the tax cuts.

Anyone else remember W's tax checks he sent out? People were downright giddy when they got them, but if I remember correctly they had to subtract it on their next federal tax form, so basically they got zip.

[mitch96]

4. Just another dressed up Reagan trickle down theory??

Proven not to work so many times.. Oh and Reagan had to raise taxes to make the government work. Conservatives never like to remember that little bump in the road.. grrrrr..
m

[dawg]

7. At least Reagan's tax cuts were across-the-board.

I'm likely to end up paying *more* under this plan.