Join Early Retirement Today
Closed Thread
Thread Tools Search this Thread Display Modes
Six Charts That Help Explain the Republican Tax Plan
Old 11-16-2017, 08:09 AM   #1
Full time employment: Posting here.
Join Date: Mar 2011
Location: Dallas
Posts: 530
Six Charts That Help Explain the Republican Tax Plan

So I saw an article (not the link below) that took a poll of peeps that asked how the proposed tax plan would affect them. I didn't really like the generalizations they made and thought "how can they know if most people don't do their own taxes" (not to mention the math skills of the country).

This made me open up last years tax paperwork to get a ball park of what it will likely do to our personal situation. It really wasn't difficult as we take the standard deduction and know a general amount of taxable income to account for.

It seems that we fall in a sweet spot and can "manage" this to stay just below the $90k mark (12% threshold). It seems that my "benefit" would be +$2k based on my situation and taking the new $24k standard deduction as I do not have enough to itemize.

I know that most $$ will go to the biz & rich, but I just was curious of our personal gain. Anyone else do this exercise? Your findings / gut feelings for your personal situation is what I'm curious of.

Surewhitey is offline  
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-16-2017, 08:12 AM   #2
MichaelB's Avatar
Join Date: Jan 2008
Location: lumpen slums of cyberspace
Posts: 30,584
After discussion the moderator team has decided that there should be no more threads on tax bills until something has passed both chambers and is in reconciliation.
MichaelB is online now  
Closed Thread

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Can someone explain a Money Purchase Pension Plan? catccc FIRE and Money 22 08-16-2013 11:30 AM
Can someone explain this new FED credit plan announced today? thefed FIRE and Money 30 03-12-2008 01:56 PM
things you must believe to be a republican ruger Other topics 29 08-18-2007 01:03 PM
Poll - Has the Christian Right has destroyed the Republican Party. Cut-Throat Other topics 28 05-26-2006 10:50 AM
Lou Dobbs, Official Organ of the Republican Party Zipper Other topics 19 09-07-2005 01:39 PM

» Quick Links

All times are GMT -6. The time now is 06:29 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.