posted by gyma
I'm thinking this will likely be an ongoing type of post in the new and improved Trump Administration -- a daily, horror shitshow type of post.
All those economically disadvantaged folks who thought Trump was on their side are in for tough times.
Here's how Trump's proposed tax plan would affect a single parent with one child:
Under current law in 2017, a single parent with one child can take a $9,400 standard deduction and two $4,100 exemptions, thus reducing her taxable income by $17,600. Trump would replace that combination with a $15,150 standard deduction, making $2,450 more income subject to tax. And bigger families would get hit even harder—their taxable income under Trump’s plan would go up by $4,100 for each additional child, relative to current law.
[...] in 2017 a single parent with one child who claims the standard deduction would face a 25 percent tax rate on adjusted gross income (AGI) between $53,050 and $68,550, compared with just a 15 percent rate under current law.
Don't sit on your hands and hope for the best. Look up your elected officials' state office phone numbers and put them on speed dial. Don['t e-mail them because they don't read emails. (Ironic, innit?)
They have to start hearing what we will and will not accept.