In Trump’s book Time to Get Tough: Making America #1 Again he said in a Trump Administration, “Every American will end up paying lower taxes.” His campaign manager Kellyanne Conway stated, “Trump’s plan is a tax cut for all income groups.”
Is the above true? NO! Many Americans will have their taxes INCREASED! They will be paying MORE than what they paid under Obama! This is an outrage coming from a man who promised to lower everyone’s taxes and who is the head of a party that supposedly represents smaller government and lower taxes.
Under Trump’s tax plan the following taxpayers will see their marginal tax rates increase:
Single filers with taxable incomes of
112,501 to 190,150 will see their marginal rate increase from 28% to 33%
Married filing jointly with taxable incomes of
225,001 to 231,450 will see their marginal rate increase from 28% to 33%
For those claiming head of household filing status it is worse as the head of household filing status goes away.
Also, more income may be taxable because personal exemptions go away. (Even though the standard deduction increases those with itemized deductions in excess of the new standard deduction pay more since they get no benefit from the increase in the standard deduction while losing the exemptions. And those with personal exemptions in excess of the increase in the standard deduction will pay more.) This applies to those above whose tax brackets have increased and those whose brackets stayed the same and could also apply to those whose brackets have gone down.
And those who get kicked up into the 25% and 33% tax brackets will see their capital gains taxes rise from 0% to 15% and from 15% to 20% respectively.
Please contact your representatives in Washington, D.C. and Donald Trump and let them know you oppose these tax increases.
Contact information for your member of the House of Representatives can be found here
Contact information for your members of the Senate can be found here
Here are some methods to contact Donald Trump