I have been running some numbers...more numbers.....adding more numbers [View all]

[Angry Dragon]

Single making $40,000 per year for 2017 and 2018

tax bill for 2017 would be $3488
tax bill for 2018 would be $3360
$128

less than $2.50 per week...........such a HUGE windfall


Married couple making $60,000 (medium income). 2017 taxes. $60,000 minus $20,800 equals $39,200. $1905 (10%) plus $3023 (15%) total $4928 for 2017. $60,000 minus $24,000 equals $36,000 times 12% equals $4320 for difference of $608. Better. Less than $11.75 per week. Another huge windfall.

Married With Children. With 7 children because Tom thinks everyone should have 7 children. Making $90,000. $90,000 minus $12,700 equals $77,3000 minus $28,350 equals $48,950. $1905 (10%) plus $4485 (15%) equals $ 6390 2017 tax bill. $90,000 minus $24,000 equals $66,000 times 12% equals $7920 2018 tax bill. Difference of +$1530. Adding in the child tax credit for 2017 would reduce the tax bill to $0. For 2018 the tax bill would be $0. Nothing gained from the new tax cut.