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RE: Trump Tax Plan Looks Like Pile Of Hot Garbage - Another Giveaway To The 1%
Thanks for the deeper analysis.
"I believe it is renters that will find the increase to the standard deduction beneficial (they typically won't itemize deductions as there is typically not mortgage interest or real estate tax). And homeowners will pay for it through the mutilated itemized deduction."
I agree with your assessment. Apparently, someone has decided that home ownership rates are not trending down hard enough.
"so it's definitely not as good as it sounds for the "middle class tax cuts."
It never seems to be...the middle class, what's left of it, is pretty much a tax donkey at this point.
"and even there is a credit if you are for caring for a child who isn't your son/daughter."
I'm sure that won't be gamed at all...