General Discussion
In reply to the discussion: This is terrible tax plan for middle level managers [View all]Hoyt
(54,770 posts)likely make up for most of that with the slightly lower tax rates (you may even end up benefiting a little, not much, by increased standard deduction, of course at cost of losing personal exemption).
Again, the plan is deficient in other ways, but I don't think the cap of $10,000 on property taxes will have any effect on MOST people except in high housing cost states.
Losing the state income tax deduction might have a small increase on those making under $100,000 depending upon your state.
I bet GOPers don't repeal the state income tax deduction (they'll call that their big compromise) -- even red states will have a hard time explaining support of that.
As to your last question -- I think you have to put what you whine about into perspective. Like I've said before. I'd gladly have my income tax increase from the present rate to $5 Million next year. That would mean I made a bunch of money.