TCJA benefits significant for many
The benefits of the Tax Cut and Jobs Act (TCJA) passed at the end of 2017 will positively impact the take home pay of many Americans as soon as this month. Unfortunately, to listen to many media reports and some politicians, it amounts to “crumbs” and favors the “rich.” This is pure demagoguery which is exposed by a reading of the bill’s provisions. First, marginal income tax brackets are reduced across the board. The 15 percent bracket drops to 12 percent, the 25 percent bracket to 22 percent, the 28 percent bracket to 24 percent and the 33 percent bracket to 32 percent ...