WOW! Trump's new tax plan (2018) is taking money from single people and giving it to married couples. When did IRS become a federal marriage counselor?
Take a hypothetical NYC Wallstreet earner who declares $350,000 a year taxable income.
2017 single earner keeps $206k
2017 married keeps $215k
2018 single earner still keeps $205k
2018 married earner keeps $235k!
2017 married keeps $215k
2018 single earner still keeps $205k
2018 married earner keeps $235k!
by getting married, in 2018, $30,000 tax savings. That's enough to buy a brand new luxury car _every year_, or $2500 monthly payments on a mortgage $1M home!
$30,000 in _after tax savings_ is a huge amount of money in america.
What the fuck?
(above) Tax savings for married earner. almost 5% lower effective federal!
(above) Taxes in 2017 and 2018 for married earner.
(above) tax savings for 2017 and 2018 single earner (virtually no savings).
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