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How Will the Senate Tax Bill Affect the American People?
by Countable
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  • Nona
    12/13/2017
    ···

    According to this, I would theoretically be paying about $600 a year less in taxes (until the middle class cuts expire). However, this doesn't take into account the fact that nearly 30% of my income goes to medical expenses (currently deductible, but not under this plan), that a good chunk of my income goes to SALT (currently deductible, but not under this plan) and that I value the continued existence of Medicare, Social Security and Medicare as my family ages. That peace of mind and being able to deduct medical expenses that make it possible for me to have a job in the first place are worth way more than $2/day to me, even if I did end up paying less (which I do not believe would be the case once the increased income due to lost deductions was calculated).

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