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Reply to "Face It: You (Probably) Got a Tax Cut"
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[quote=Anonymous]For all the endless bellyaching about how people were getting [i]killed[/i] by loss of SALT, all, nearly all of your taxes went down. I admit there is a doughnut hold around $200-$250K in HHI with high deductions where some do pay more. 1- It's not that much more. 2- If it is, count me as a fan of not paying for $30% of your mortgages and property taxes. 3- Any tax reform has distributional winners and losers. 4- As shockingly few people understand, information on refunds, marginal rate, or changes in deductions are not sufficient to determine change in tax liability. The only way to do this is to redo your 2017 taxes with 2018 numbers (even comparing average rates is uninformative if level or type of income changed).[/quote]
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