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Sub for more: http://nnn.is/the_new_media | Paris Swade for Liberty Writers reports, President Trump is working hard to bring manufacturing back to this country. He unveiled his tax reform earlier today. President Trump talked about making sweeping tax reform and simplifying the tax code in a historic speech.
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The tax plan will cost $2.4 trillion over the first decade and $3.2 trillion over the second decade, on a static basis
Fast forward to 2027, when the overall average tax cut would be smaller than in 2018, increasing after-tax incomes 1.7 percent. Taxpayer groups in the bottom 80 percent of the income distribution—those making less than about $150,000—would receive average tax cuts of 0.5 percent or less of after-tax income. However, taxpayers making between about $150,000 and $300,000 would on average pay about $800 more in taxes than under current law. And the one item which Democrats will love: about 80% of the total benefit would accrue to taxpayers in the top 1 percent, whose after-tax income would increase 8.7 percent.
It gets worse: by 2027, taxes would rise for roughly one-quarter of taxpayers, including nearly 30 percent of those with incomes between about $50,000 and $150,000 and 60 percent of those making between about $150,000 and $300,000.
According to the Tax Policy Center, the number of taxpayers with a tax increase rises over time. This is because the plan would replace personal exemptions, which are indexed for inflation, with additional credits for children and non-child dependents that are not indexed for inflation. In addition, indexing tax brackets and other parameters to the slower-growing chained Consumer Price Index means that over time more income is subject to tax at higher rates.
Finally, there is of course, the repeal of the state and local tax deduction, a move which is expected to be widely hated by homeowners across the US, but as the chart below shows, by democrat states far more than republican states.
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Teresa reflects on how to manage responsibility in these tumultuous times and soul actualization.
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Sub for more: http://nnn.is/the_new_media | Paris Swade for Liberty Writers reports, Michelle Obama was in Boston for the “Inbound conference” and she did not hold back. She tore into EVERY women that voted for Donald Trump. Like she really, really hates them.
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Conspiracy Daily Update 