(12-20-2017 08:02 PM)Owl 69/70/75 Wrote:  From everything I have seen, the vast majority of the middle class will pay less. In particular, it looks to me like anyone who doesn't itemize under the old law will come out way ahead. So I'm not sure why calling it a middle class tax cut is not being honest. It seems to me that calling it anything else is not being honest.

Most will pay less. But most of the benefits are geared towards businesses and business owners.

A single person that doesn't itemize and makes 50K will see a reduction of taxes of roughly 1200. At 100K a reduction of roughly 2700. I don't think anybody will turn down a 2.5% increase in their take home pay but it's not going to have a huge effect on their spending habits or lifestyle either. If they itemized before the advantage will be less, if they have children under 17 it will be more.

If that same single 100K income taxpayer earned his money as a partner in a partnership rather than as an employee then his tax savings go from 2700 to 7200 (assuming he's not limited by the wage requirement - edit: at that income level there is no wage requirement)