Above, shows averages, but lots of taxpayers in all income classes will get whacked with higher taxes, right from the start.
Here are the hits in April 2019 across some other states as well>
In California, where Trump was trounced by voters in the 2016 election, 1 in 6 households (16%) that earn from $76K to $130K will pay higher taxes in the first year under the tax bill; in the lower-earning class of $48K to $75K, 1 in 12 (8%) will get socked. For the state as a whole, 11% will pay a bigger tax bite.
NOTE- All charts and income cutoffs, by state (or U.S), are sectioned by income class as:
First 20%
Second 20%
Middle 20%
Fourth 20%
Next 15%
Next 4%
Richest 1%
ALL
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In Connecticut — below — for the taxpayers who are in the upper-middle class (earnings about $84K to $140K in Ct. ), 1 in 6 will pay more income tax in 2019 under the new tax bill. For the middle 20% of taxpayers (about $49K to $83K), 1 in 9 (11%) will pay more.
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Lots of Maryland taxpayers will be hit hard right away. About 12% (1 in 8 taxpayers) in lower to middle income classes, and for households earning more than $130,000, 1 in 4 would pay more.
Likewise, in New Jersey, where Trump was rejected soundly. Both the middle-class, and even some in the country club set, will pay more.
And in Trump’s home state of NY, where Trump was routed by voters in November, 10% to 20% of taxpayers earning between around $40,000 up to $120,000 will be subject to a tax increase.
In purple Virginia, which has been turning bluer, about 1 in 12 taxpayers would need to fork over more in taxes. If you earn between $71,000 to $127,000, 1 in 9 taxpayers take the hit.
In Oregon, 1 in 12 overall would pay more in 2019. For households earning more than $115K and up to about $230K, about 1 in 5 may pay more.
Note, even some red states will not escape unscathed from pockets of taxpayers paying more. In North Carolina, for example, for the 4th highest income class ($60K to 99K) and the next 15% (about $100K to $217K), about 1 in 10 would pay higher taxes.
However, the most severe hits are in states whose education and infrastructure relies the most on state income and local property taxes (SALT): for example, California, Maryland, NJ and NY.
Note the SALT deduction has been granted generously to taxpayers — until now — for more than 100 years, since 1913.
Cutting the deduction now to $10,000 for individuals will destabilize state and local finances and housing markets and prices.
It is astonishing that Republican congressmen from CALIFORNIA (14 R’s), NEW YORK (9 R’s), NEW JERSEY (5 R’s), VIRGINIA (7 R’s), 1 Republican from MARYLAND would vote for a bill that would undermine finances for their own state.
In fact, it is astonishing that any Congressman or Senator who claims to represent constituents would foist a tax increase on so many millions of middle-class Americans, and call it “reform.”
It is a redistributional heist.
Nothing less.