Results: How much will I get with these tremendous tax cuts that Trump and the GOP are advocating? PART 1
Published on 03/06/2025
If you are looking forward to Trump tax cuts, do you realize how much (or little) you will actually get? Please keep in mind that inflation is now at 3%. This information is taken from the Penn Wharton Budget Model https://budgetmodel.wharton.upenn.edu/issues/2025/2/27/fy2025-house-budget-reconciliation-and-trump-tax-proposals-effects
QUESTIONS
GO to COMMENTS
Comments
1.
1.
If you are American, and do not have to file or pay any taxes, do you realize that you would get $0 in tax cuts? Meanwhile, inflation is at 3% and rising.
Yes
30%
649 votes
No
15%
325 votes
I am Canadian
30%
655 votes
N/A
26%
571 votes
2.
2.
Did you realize if you are in the first bracket, making less than $35,000/year, you will only get $330/year? That is $27.50/month or $6.35/week. That is 1.4% after tax increase. Recall, inflation is at 3%.
Yes
22%
480 votes
No
19%
421 votes
I am Canadian
30%
661 votes
N/A
29%
638 votes
3.
3.
Did you realize if you are in the 2nd bracket, making between $35,000 and $63,999, you will get a tax break of $$1015/year. That breaks down to $84.58/month or $19.52/week. That works out to 2.0%. Recall, inflation is at 3%.
Yes
21%
454 votes
No
19%
412 votes
I am Canadian
30%
661 votes
N/A
31%
673 votes
4.
4.
Now, if you have a bit more and fall into the bracket making between $64,000 and $106,999, did you realize you will get a savings of $2195. That breaks down to $182.92/month or $42.21/week. That is a 2.6% change in income. Recall, inflation is at 3%.
Yes
20%
433 votes
No
19%
419 votes
I am Canandian
31%
673 votes
N/A
31%
675 votes
COMMENTS