And another tax exemption goes away to screw people -

[still_one]

3. Sorry for your situation. The whole tax fiasco is a fraud. The personal exemption has also been

eliminated, along with certain itemized deductions, which will affect those mostly in blue states with high housing and property taxes. Yes, this was a punitive tax bill.

Those who used to itemize deductions may find that won’t happen now since the standard deduction has been raised, but either the loss of the personal exemption, they will find they will be actually paying more tax

Those at lower incomes who didn’t itemize before will also lose the personal exemption, but the increase in the standard deduction will most likely realize less tax for them, but it will not be any windfall for sure, and with the whittling down of the ACA, those who choose to keep that insurance will find much of that tax gain will go to increased premiums. With the trade war they will find the cost of everything will be higher, so much of that so called tax cut will go to the higher costs

It will be the wealthiest that will benefit the most, and the Reagan trickle down economics will be shown again to be a complete failure