IRS Reporting 25% ***Fewer*** People Getting Tax Refund This Year

[roamer65]

64. Not entirely correct.

Not all single folks made out like "bandits". If you are single and own a decent house in NY, CA, NJ or New England, you definitely will take a hit on the reduced SALT deduction. Remember that CA's top income tax rate is about 13 pct, for example. If I lived in CA instead of MI, I would be getting royally screwed, too.

So...if you are single, no kids, usually file standard deduction and don't live in a high SALT state...you may see the elimination of what I have called for years the "no child penalty", or the "baby subsidy".

*IF* the goal was to eliminate personal deductions for children, it should have been done slowly over time. In other words, existing decuctions should have stayed in place until the children reach 18. Children born after a certain date should then not be eligible. What the tax scamming Repukes have done is to throw a monkey wrench into the finances of millions of working families. That will result in the death of their "political party".

People need to get the gravity of what has truly happened. The Repuke party has messed around with the transfer payment compact between the states. There WILL be serious, long term repercussions with the damage they have done to it.