“It’s the end of the world!!!!” This is what I am hearing the Democrats say! Not One Democrat voted to allow Americans to keep more of their money in the tax bill that passed the Senate on Friday with a vote of 51-49! I have never seen such a total and complete tantrum thrown like this! These people are losing it because Americans are having their taxes cut.
The Media isn’t helping either! It’s beyond pathetic.
This bill doubles the standard deduction. Standardized deduction would almost double from $6,350 to over $12,000 for single filers, and $12,700 to $24,000 for married couples filing jointly. This means that the number of Americans who claim the standard deduction would likely go from 60 percent of all filers to 90 percent.
This bill slashes corporate taxes -we have one of the highest corporate tax rates in the world! This is why companies move their production and operations overseas -to avoid our insane corporate tax! This huge cut in corporate tax will create millions of jobs for the Middle Class.
Critics also fail to mention that the tax credit per child would INCREASE from $1,000 to $1,600.
The Democrats are saying the single mom working minimum wage would only get a $75 dollar tax credit , but the family making half a million gets $4,000 in tax credit. This sounds horrible right…..but the FACT is that single mom, is currently paying ALMOST NOTHING in taxes!
So enough of the drama. Want to find out how this new tax bill will impact you and your family? The Tax Plan Calculator created by Maxim Lott, who is a supervising producer at the John Stossel show on Fox Business and a writer for FoxNews.com, has created a calculator that allows you to find out the numbers for yourself.
Click the link to find out: