Discover and read the best of Twitter Threads about #GOPTaxSCAMStories
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You are a middle class American who got hosed by the #GOPTaxScam after you were told that you would get a $4,000 tax break!
How did this happen? Well the GOP did it deliberately.
Stick with me through this long thread and let’s break down what they did.
How did this happen? Well the GOP did it deliberately.
Stick with me through this long thread and let’s break down what they did.
1/ First, how do taxes work? Your big concern is not how much money you make, it is your TAXABLE income.
That is the important number.
All that matters is that.
If your TAXABLE income is higher, then you pay more taxes.
That is the important number.
All that matters is that.
If your TAXABLE income is higher, then you pay more taxes.
2/ Your TAXABLE income is what is left after deductions and exemptions are subtracted.
So the #GOPTaxScam removed the exemptions and many of the deductions the middle class normally used to reduce that number.
So the #GOPTaxScam removed the exemptions and many of the deductions the middle class normally used to reduce that number.
