>>>I just ran my 2016 taxes using the new brackets:
>>>Best Case: They keep the personal exemption and the age 65+ bonus on the standard deduction
>>>Taxes down $4000
>>>Worst Case: no over 65 bonus and no personal exemption
>>>Taxes down $800
>>>
>>>Capital gains limits, pass through taxes and expensing could make a lot of difference.
>>
>>
>>Not so good here in NJ
>>
>>State income taxes are high here, so the loss of that deduction will hurt.
>>Also, real estate taxes are high here, and the elimination of deductions over $10K will hurt.
>>The losers will be people with mid-to high salaries who own homes with high taxes.
>>
>>Ditto with NY.
>>
>>No one is sweating, though.
>>The pendulum will swing quickly and the dems will reverse it all.
>>
>>It's really wild to see dems complaining about budget deficits and repubs saying they're OK
>
>Here in MA, we are in the same boat: high state tax and very high property tax. But mostly what I don't like about the new tax law is that it will hurt charitable organizations. Because for most of us, the charitable contributions will not be tax deductible.

I never understood the charitable deduction.
I don't see why other taxpayers should be forced to support a charity that I choose to support.