The Day Of The Dead Skull Sugar Shirt Federal standard deduction net sucks for the plurality of Americans that live in higher cost-of-living areas. That deduction means middle-class Americans in poor states are able to claim more, and equally-classed Americans in more expensive states are able to claim less. combined with the SALT deduction, Trump’s tax cuts cost a lot of people who don’t have money a lot of the money they need to live. His tax code eliminated personal exemption though. Previously you still get to 12k exempted by combining personal exemption and standard deduction. After the tax change, everyone still gets the same 12k.
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Asides from Day Of The Dead Skull Sugar Shirt homeowners who have to pay more because they don’t use standard deductions and lost the personal exemption. The counter here is that the capped (SALT) mortgage deductions for higher-priced homes, basically increasing taxes on people in cities/blue states where homes cost more. Average savings — look at your paycheck! Did you save more than say $50 every month? Now look at other former benefits you’ve lost in other places … You don’t think the tens of billions of corporations and the ultra-rich saved on THEIR taxes came out of thin air, did you?
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