Will your federal taxes be going up or down next year?

[avromie7]

Didn't he also run on that the rich like him will be paying a lot more? Did he call this tax plan a miracle for corporations?

Again, why are you taking issue with the fact that someone else is paying less?

Jealous much?

[Sport]

Is more than that.  They're barely paying anything in federal taxes.  How much less do you want them to pay

I consider myself middle class, as im sure most here do, and I pay plenty in fed taxes. I would love to pay less but I am very happy with what seems like a 20% reduction in my taxes next year.

[precise]

Again, why are you taking issue with the fact that someone else is paying less?

Jealous much?

That's what liberalism is about...

[ChaimMoskowitz]

Feel free to link that, if that's correct.  I don't remember that

He has said it so many times it is odd you don't remember. 
GIYF for many times he said it but here the first one that came up: "The reason I am going to pay more is because I lose all the deductions. They have deductions on top of deductions ... things you've never heard of before," Trump said.

[henche]

I consider myself middle class, as im sure most here do, and I pay plenty in fed taxes. I would love to pay less but I am very happy with what seems like a 20% reduction in my taxes next year.

Plug your numbers in.  What are you saving, and how much are you paying in federal tax?

http://taxplancalculator.com/calc

[ChaimMoskowitz]

Plug your numbers in.  What are you saving, and how much are you paying in federal tax?

http://taxplancalculator.com/calc

Calculator doesn't work for me. Says no difference and I know that is wrong.

[Sport]

Can you link to the article? How much $ are we talking?

https://www.usatoday.com/story/money/taxes/2017/12/20/how-the-tax-cuts-and-jobs-act-could-affect-these-5-households/108773102/
 

[Sport]

Plug your numbers in.  What are you saving, and how much are you paying in federal tax?

http://taxplancalculator.com/calc

Already did, im saving approx 20% I live in a high tax state  ftr.

[henche]

Already did, im saving approx 20% I live in a high tax state  ftr.

If youre paying more than 2k in federal taxes, you're not middle class in my book. 

[Sport]

If youre paying more than 2k in federal taxes, you're not middle class in my book.

We have very diffrent books then. What class would you put someoen payimg 2k in?

[ChaimMoskowitz]

If youre paying more than 2k in federal taxes, you're not middle class in my book.

This is interesting. Say a married couple with two kids. What would you consider middle class?

What about someone paying 4k in taxes? Are they rich?

[henche]

This is interesting. Say a married couple with two kids. What would you consider middle class?

I think 50-100k household income for a family, I'd call middle. 

Of course, if you're frum, it's impossible to live on those numbers. 

[ChaimMoskowitz]

I think 50-100k household income for a family, I'd call middle. 

That sounds reasonable. You think there will be a lot in that 80-100k range that will paying 2k or more in taxes?

[avromie7]

I think 50-100k household income for a family, I'd call middle. 

Of course, if you're frum, it's impossible to live on those numbers.

That's the lower middle class.

[Sport]

I think 50-100k household income for a family, I'd call middle. 

Of course, if you're frum, it's impossible to live on those numbers.

Someone making 100k is most liekly paying more than 2k fit.

[ChaimMoskowitz]

Someone making 100k is most liekly paying more than 2k fit.

Way more!!! Now I see henche's problem.

[Sport]

Way more!!! Now I see henche's problem.

Unless they have more than 3 children and have high itemized deductions.

[ChaimMoskowitz]

100k+ is now upper middle class or higher.

[Sport]

100k+ is now upper middle class or higher.

So how many classes do we have?
Lower class, middle lower class. Upper lower class, lower middle class, middle middle class, upper middle class, etc..?

[henche]

Someone making 100k is most liekly paying more than 2k fit.

Let's run the numbers.

I'll give them 3 kids,  and no itemizing.

They pay 2700, and are saving 3200

Seems like a pretty awesome tax cut