Of course it does. They got their sheep well trained though. THE RICH, who are part of ALL Americans, also get a break.
I am going to need this tax relief to pay for Christmas. We are spending like a finely tuned machine.
http://www.washingtonexaminer.com/t...act-benefits-the-middle-class/article/2643870
This week, the House and Senate will vote on comprehensive, pro-growth, pro-family tax reform. The legislation, known as the Tax Cuts and Jobs Act, will give families and individuals across the country tax reduction and simplification starting in 2018.
The legislation includes rate reduction and a doubling of the standard deduction. Under this change, the first $12,000 for an individual and $24,000 for a family will be tax-free. The standard deduction is already used by 105 million taxpayers across the country, who will see a significant tax reduction.
In addition, the plan doubles the child tax credit to $2,000, helping millions of American families across the country. According to the most recent IRS data, more than 22 million people used the child tax credit in 2015.
The bill also offers relief from the alternative minimum tax and the death tax by increasing the exemption amounts for both taxes. The AMT was initially passed to make sure 155 high-income Americans paid federal income tax. Today, it hits almost 4.5 million Americans, with millions more forced to calculate their taxes twice to comply with the tax.
I am going to need this tax relief to pay for Christmas. We are spending like a finely tuned machine.
http://www.washingtonexaminer.com/t...act-benefits-the-middle-class/article/2643870
This week, the House and Senate will vote on comprehensive, pro-growth, pro-family tax reform. The legislation, known as the Tax Cuts and Jobs Act, will give families and individuals across the country tax reduction and simplification starting in 2018.
The legislation includes rate reduction and a doubling of the standard deduction. Under this change, the first $12,000 for an individual and $24,000 for a family will be tax-free. The standard deduction is already used by 105 million taxpayers across the country, who will see a significant tax reduction.
In addition, the plan doubles the child tax credit to $2,000, helping millions of American families across the country. According to the most recent IRS data, more than 22 million people used the child tax credit in 2015.
The bill also offers relief from the alternative minimum tax and the death tax by increasing the exemption amounts for both taxes. The AMT was initially passed to make sure 155 high-income Americans paid federal income tax. Today, it hits almost 4.5 million Americans, with millions more forced to calculate their taxes twice to comply with the tax.
