Tax Cuts--Anyone Really Believe This?

Ronnie once said...


'USA TODAY' published some of the proposed changes. I'll highlight a few. Adoption: The tax credit worth up to $13,750 per child would end.
Alimony would no longer be deductible by the payor.
Teachers could no longer write off the cost of supplies they buy.
Eliminate the deduction for out of pocket medical expenses.
Tax preparation fees would no longer allowed to be deducted

Here's more from 'CNN MONEY'
The student loan interest deduction would go away

'CNN MONEY (2nd link)
"Today you're allowed to claim a $4,050 personal exemption for yourself, your spouse and each of your dependents. The House bill eliminates that option."

"Eliminates tax exclusion for dependent care assistance accounts:"
"Repeals state and local tax deductions, but preserves property tax break"
"Repeals the estate tax: The estate tax today affects just 0.2% of all estates, and only those with more than $5.5 million in assets (or $11 million if you leave a spouse behind)."Call this tax cuts, tax reform or by any other name rest assured the government wouldn't make changes unless it would benefit itself and the wealthy who help write legislation. Yes we were promised a draining of the swamp. Just didn't realize it was we--the average smuck--they were referring to. But they sure do talk pretty don't they?


If you have a little extra time on your hands CNN published the current 429 page bill.