ICStats on 23 October 2017
In general the tax framework is a windfall for corporations and the top 0.01%. The rest not so much.
The standard deduction would be increased by $6,000, but the personal exemptions removed. The personal exemption is set at $4,150 for 2018. Therefore the net effect for a single filer with no dependents is a $1,850 increase in deductions. However the bottom tax bracket would increase from 10% to 12%. For many this will be a wash, or +/- $100 change in taxes owed.
My 8th gen collection
