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In Reply to: RE: And boy did some squeal posted by G Squared on April 15, 2024 at 11:49:41:
"that on average all income brackets benefited substantially from the Republicans' tax reform law, with the biggest beneficiaries being working and middle-income filers, not the top 1 percent..."
Sorry Chuckie.
Another segment that didn't like the act was organizations involved with tax preparation like H&R Block, Turbotax, etc. Doubling the standard deduction meant that many families no longer needed the more complicated (and expensive) path to itemizing. In a few years, I'll be able to channel our charitable gifts directly from an IRA so it would be a beautiful thing if we could file a straight up tax return without any need for itemization.
We have comparatively low SALT diet so averaging a dozen year's worth of Turbotax metrics says we might have gained ~1% lower tax.
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Follow Ups
- "Income data published by the IRS clearly show... - E-Stat 13:47:47 04/15/24 (2)
- I read it... - G Squared 17:21:24 04/15/24 (1)
- Ok - E-Stat 17:47:00 04/15/24 (0)