General Discussion
In reply to the discussion: Democrats need to address the "Working Class" problem and get over the "Isms" [View all]paleotn
(19,816 posts)and their impact on your math. In 2017, pre Trump tax "cut", a family of 4, married filing jointly, got a 12,700 standard deduction and 16,200 in personal exemptions (4 x 4,050). 28,900 in total deductions.
Post Trump tax "cut", their standard deduction increased to 24,000 but personal / dependent exemptions were suspended until 2025. Apologies, but 28,900 is bigger than 24,000.
Changes in tax brackets lightened the load for some, increased it for others. Add the SALT deduction caps and no one in the working class demo can get anywhere near the 24,000 standard deduction hurdle to help lighten their load. Those in higher tax blue states were particularly impacted by the caps on state tax deductions. That was by design.
In short, it's only the very wealth who benefited significantly. Some in the low to middle income brackets got a little back, some had to pay more. A mixed bag, but certainly NOT a windfall for anyone who, by anyone's standards, isn't wealthy.