Tax cuts sound like a good thing, don’t they? More money in your pocket. Except Paul Ryan and the Republican Party have finally shown their hand. They don’t plan on cutting taxes for me or for you. They’re sticking to their bread and butter: rich people and corporations.
They’re going to remove a great many of our cherished deductions. And, somehow, all of this will be good for America.
No, no it won’t.
The tax plan revealed today is nothing more than Ryan’s own Roadmap for America. In there, Ryan outlined a plan to remove the mortgage deduction. How much money did you think it’ll cost you in taxes without that deduction?
I can tell you what it will cost me… With my mortgage deduction, I paid $8,577 in federal income taxes last year. Without the deduction, I will have to pay $9,404. I did the math.
Now, I remember Ryan’s Roadmap plan, another item he had in there was single people would be taxed @ 25% if they made more than $50,000 per year.
Guess where I’m going to fall?
If that goes through, I’ll be paying $17, 851 in federal income taxes.
Guess what plan I’m against?
All of us single people should start rising up and demanding better goverment. I haven’t received enough goverment support to warrant paying 25% of my money in fed taxes. I’m not a rich fatcat.
Those of us who make the factories run, who write the reports, mop the floors, sell the cars, etc, we’re the ones who deserve a tax break – not the guys who all ready get the biggest piece of the pie.
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