[Ceebass]

Rep. Bob Trammell, leader of the House Democrats said Republicans are eliminating the state and local deduction to help pay for tax cuts for businesses and the wealthy.////

Businesses and corporations pass their taxes down to the consumer - the taxes are hidden in the cost of the goods and services that you buy

I don’t see where the “wealthy” get any tax cut. It looks to me that if your family income is 150K, you about break even, and then your taxes go up from there.

[Mariner]

“Businesses and corporations pass their taxes down to the consumer - the taxes are hidden in the cost of the goods and services that you buy”

For high earners that is the absolutely BEST tax possible. A regressive tax based on consumption.

[JayGalt]

There was a great thread earlier that included links to a Heritage.org breakdown of the current, house & senate versions and the proposed brackets. I'd say based on that you are unduly pessimistic.

http://www.heritage.org/taxes/commentary/1-chart-the-differences-between-the-house-and-senate-tax-reform-bills

http://www.businessinsider.com/tax-brackets-2018-trump-tax-plan-chart-house-senate-comparison-2017-11