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Sunday Poll: Tax Cuts Bill a Great Xmas Gift for the Middle Class?

December 24, 2017 Featured, Taxes No Comments
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On Friday President Trump signed a bill making major changes to our tax code.

The bill reduces the corporate tax rate to 21 percent from 35 percent and supporters argue that will make U.S. business more competitive overseas. Many pass-through businesses also receive a 20 percent deduction. 

It lowers individual tax rates, including trimming the top bracket to 37 percent from 39.6, while doubling the standard deduction and replacing personal exemptions with a $2,000 partly refundable child tax credit. The law eliminates various deductions while limiting others on state and local taxes and mortgage interest. (NBC News)

Earlier last week Trump had this to say about the bill:

“They’re going to start seeing the results in February. This bill means more take-home pay. It will be an incredible Christmas gift for hard-working Americans. I said I wanted to have it done before Christmas. We got it done,” Trump said. (ABC News)

With Christmas tomorrow I thought I’d ask readers their view of the bill.

This non-scientific poll will close at 8pm.

— Steve Patterson

 

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