What we need concerning Trump’s tax plan are the details. I’m less concerned with how many jobs he thinks it will create and what incentives, write-offs, and loopholes he’ll provide for corporations, small businesses, and billionaires than I am about what my individual rates will be. He campaigned on a tax plan that would have married couples paying 0% tax on their first $50k and only 10% on the next $50k–only $5K (5%) on the first $100K. Then their rate would jump to only 20%, and 25% was the most it would ever be. However, it sounds like he has already backed off on that: The new hype is doubling the standard deduction, which would give couples 0% tax on only the first $24K, and taking away some deductions (local taxes, etc.).
In addition to the rates, I want to know when it would be effective. For tax year 2017 (the next time I file), or not.
If I were a protester, my chant would be: “What do we want? Rates and Dates. When do we want it? Now.”