Jokers have the 35% bracket starting at less than half the income (for individuals) that it did in 2017. Sick.
They should do a fix through budget reconciliation next year: 12% for incomes covered by FICA taxes, 25% for portion if income above FICA to $1,000,000, then 33% for portion above $1,000,000. Same standard deductions, re-instate the personal exemptions for self, spouse and all dependents. SALT deduction not capped at $10,000, but equal to 1/2 * (income + sales + property). UNLIMITED charitable contribution deduction. Corporate down to 15%, with repatriation down to 5%. Head of household multipliers = 1.5X, not 1.33 or whatever happy horsecrap they’re using.
True tax reform, baby!
The 35% bracket didn’t even really exist - it was only for 2k in income.