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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

to wonder why people think Trump's tax changes are bad?

27 replies

thedevilsmarshmallow · 20/12/2017 11:24

Looks like most people will get a tax cut. Why are so many people saying Trump's tax changes are awful? I am not an expert so don't understand the complexities of these changes so regardless of whether you think Trump is the devil incarnate for other reasons, can anyone explain in non-emotive terms why the tax changes are bad and if they are bad, who they are bad for? This is a genuine question as on the surface they look like generous tax cuts for most people.

OP posts:
Skowvegas · 20/12/2017 16:35

The main hit depends on the state because State taxes are no longer federally deductible

Yes I can imagine someone in New Jersey spending $25k on property taxes and lord knows what on state taxes will get hit hard.

I'm finding it hard to calculate because we'll probably go from itemized deductions back to taking the standard deduction. Also I'm self-employed with a pass-through so theoretically my taxes will drop, but how much I don't know.

Bourdic · 20/12/2017 16:39

I’ll ask him Sko

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