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Ranb
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Tax Cuts and Jobs Act of 2017
10/08/18 at 17:56:51
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Some info on the new tax rates the feds will be lining their pockets with soon.

For a married man with no dependents like myself, the standard deduction goes from $12,700 to $24,000; a huge jump.  But the personal exemption of $4050 is eliminated, not good news for parents with more than three kids.  The child tax credit is doubled from $1000 to $2000 though.

The individual coverage mandate of the ACA is repealed effective 2019 which may make insurance premiums go up.  I have Tricare Prime which costs me <$600/year for family coverage.  Too bad it is limited to the 9 million of so people associated with the military.

Corporate taxes are lowered from 35% to 21%.

The act also opens 1.5 million acres in the Arctic National Wildlife Refuge to oil and gas drilling.

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