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Yo_Mama_Been_Loggin

(108,010 posts) Sat Dec 16, 2017, 02:11 AM Dec 2017

Here's when Trump's new tax plan will take effect if it passes

Senate and House Republicans reached an agreement on their final tax bill on Wednesday.

If President Donald Trump signs it before the end of the year, the new tax plan will take effect on January 1, 2018.

Americans won't see the change to their tax returns until spring 2019 — when they file taxes for 2018.

https://www.msn.com/en-us/news/politics/heres-when-trumps-new-tax-plan-will-take-effect-if-it-passes/ar-BBGoLCp?li=BBnb7Kz

In other words it may not do them a bit of good politically if current trends hold out.

4 replies

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Here's when Trump's new tax plan will take effect if it passes (Original Post) Yo_Mama_Been_Loggin Dec 2017 OP

evil genius AlexSFCA Dec 2017 #1

Also, its likely the worst parts get pushed out. TDale313 Dec 2017 #2

Withholdings will change early next year. Hoyt Dec 2017 #3

I am going to hand over $1700 to the super rich next year. Kablooie Dec 2017 #4

AlexSFCA

(6,137 posts)

1. evil genius

Reply to Yo_Mama_Been_Loggin (Original post)

Sat Dec 16, 2017, 02:24 AM

Dec 2017

and they will have all the money in the world for future elections including local ones. The donor class will do anything they can to keep dems off power because they can reverse this scam tax plan.

TDale313

(7,820 posts)

2. Also, its likely the worst parts get pushed out.

Reply to Yo_Mama_Been_Loggin (Original post)

Sat Dec 16, 2017, 02:27 AM

Dec 2017

When the Senate bill was analyzed, it got worse for lower and middle class tax payers as you went further out. Small tax cut immediately, and up paying more between 2021 and 2027.

Hoyt

(54,770 posts)

3. Withholdings will change early next year.

Reply to Yo_Mama_Been_Loggin (Original post)

Sat Dec 16, 2017, 03:27 AM

Dec 2017

Kablooie

(18,634 posts)

4. I am going to hand over $1700 to the super rich next year.

Reply to Yo_Mama_Been_Loggin (Original post)

Sat Dec 16, 2017, 04:46 AM

Dec 2017

I did a rough calculation using last year's tax return recalculated with the new tax rules.

I will pay about $1700 more because of the lost deductions.

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