Discover and read the best of Twitter Threads about #DonorBailoutTaxBill
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1) This is going to really get you going today😡😡😡.
The #DonorBailoutTaxBill is much worse than almost everyone is reporting because they are focusing on the increase in the standard deduction. However, the bill also repeals the personal exemption. Lets look at these 2 parts🤔
The #DonorBailoutTaxBill is much worse than almost everyone is reporting because they are focusing on the increase in the standard deduction. However, the bill also repeals the personal exemption. Lets look at these 2 parts🤔
2) The @GOP has managed to push the line that they are increasing the standard deduction and this is going to be a boon for all Americans. The standard deduction will go from $6,350 to $12,000 for singles and from $12,700 to $24,000 for married couples. But this is all smoke...🤢
3) The result is a change of +$5,650 for singles and +$11,300 for married couples. But, they are taking the personal exemption of $4,050 away from every man, woman, and child. Here is some info on the personal exemption if you are unfamiliar with it. ttlc.intuit.com/questions/1899…
