By +5 years most middle class families will be paying more than they do now.

I'm cautiously optimistic that this piece of shit will suffer the same fate as the GOP Repeal & Replace idiocy.

I can't wait for the 2018 elections.

There goes that $98/month

Once Trump finds a way to undermine Obamacare, or the loss of mortgage deductions. What one hand giveth, the other had taketh away

... loans

I have to admit part of me wants to go into yucky places and "concern troll" about how these "tax cuts" will affect large families.

If nothing else, I'd love for a Conservative friend who admitted to only voting for Trump because he himself, not Trunp, was turbo-Christian, and had "HDS" that couldn't let him do a protest vote, to see that this is going to fuck his family over -- he's got four and they still want one more (and very well may be using "natural family planning" because they don't understand how the Pill works so the fifth may come sooner than they wanted after their "Irish twins" who are still in diapers).

So my household will probably see little if any benefit from this.

relocation costs if your job moves.
In the end, you lose big.

...life changing. $1182 a month would be much better.

It needs to be well countered.

We need to realize why this shit works. Having a thousand extra dollars to pay bills is how that will sound to people and they don't have to lift a single finger for it to happen. That's what people hear. No effort. An extra thousand plus.

We know that's not how it works but tens of millions went to the polls and voted for Trump. Even more stayed home and didn't vote. They aren't the most informed people.

Numerous Du'ers above this post have included great and accurate counter points.

That definitely changes the balance of the equation to a HUGE negative!

When all is said and done, most people will be paying the same or more. Given the cuts in deductions (and we just take the standard deduction as the house is paid off), i think the 98.50 a month is way overstated.

Of course, given who's pushing this plan, that shouldn't surprise me.

To my surprise, it knocked $4300 off my total tax for the year. I used the numbers from this CNBC page:

https://www.google.com/amp/s/www.cnbc.com/amp/2017/11/03/the-good-the-bad-and-the-money-what-the-gop-tax-plan-means-for-you.html

We are a single income family of four. We itemize for both mortgage and state income tax. We also take the max deduction (above the line) for student loans. Those become irrelevant to our situation because the standard deduction is raised so high in the plan. I figured we'd be worse off because of the elimination of personal exemption and student loan deduction. Indeed our "Taxable Income" increased substantially.

But they cut the rates so much, our tax is substantially lower. Specifically, the rate is cut to zero on the first $24k for married filing, if that website is correct. So the true taxable income is lower.

That will be good for our personal situation in the short run, but here's the thing. If everyone in my situation gets the same tax cut, that represents a massive revenue loss, I imagine in the hundreds of billions, at a time when the government runs a trillion dollar deficit every year. It's completely irresponsible.

Weren't the Republicans oh so concerned about the debt and deficit prior to 2017? Where is that concern now? I guess it's okay if a Republican does it.