How Your Taxes Will Rise Under Trump Tax Plan
No exemption for your children and other dependents
No deductions for student loan payments
No deductions for sales and income tax
Lower property tax deduction capped at $10,000
No tax breaks for adoptions
Deduction for mortgage interest lowered by 50%
No deductions for people with large medical expenses
Small businesses and charities will also suffer under the "Cut Cut Cut Tax Plan".
No credit for drug companies to research cures for rare diseases.
No credit to hire disabled persons.
But lucky billionaires and multi-millionaires will do well under the plan as well as large corporations. For instance, in 2005, Trump paid $38.5 million, of which $31 million was because of the Alternate Minimum Tax. He plans to get rid of the Alternate Minimum Tax. His children can also inherit paying less in taxes since estate taxes will benefit those with over an $11 million inheritance.
Nice that the rich will be gettiing even richer and screw the rest of us.