I Just Love it When Josh Barro Screams Lie


Josh Barro calls the Trump standard deduction of $24,000 a lie. OK, lets talk about this lie Josh.  As an example consider a married couple WITHOUT kids who earn a combined $90,000 annual salary.

The current standard of $12,700 would reduce the taxable income to $77,300. The proposed(and soon to pass) GOP tax bill would reduce the taxable income to $66,000.

However it get’s much better; that $66,000 would get taxed at 12% under Trump’s generous Xmas gift in the form of a income tax reduction!(The current under $90,00 bracket rate is 15%)

So what will the actual tax savings be in the event the tax reform passes?

15% of $77,300 is $11,595 compared to 12% of $66,000 is $7,920 which is more than a $3,500 savings. This is the kind of tax cut that can turn a TAX BILL into a TAX REFUND!

Finally note that this type of savings will  also apply to couples/families who file jointly and earn much less than the example of $90,000. Remember, that $24,000 standard deduction applies to all couples/families!! Also I would expect the Business Insider “tax expert” to be more informed regarding his accusational headlines.


2 comments on “I Just Love it When Josh Barro Screams LieAdd yours →

  1. Why would one expect a guy, who holds bachelor’s degree in psychology from Harvard College, to be anything less than a IRS tax expert? The cat only invests in index funds. So much for playing the market. At least he sounds fiscally/financially conservative?

  2. The appearance of Trump charicature in presidential hall almost led to a medical episode for Gordon Bass who declared somebody would become a national hero if they could cut our savior trump’s voice out of robot.

    Bass is s crybaby who does not acknowledge that THE DONALD is the president of the UNITED STATES. Your bellyaching, whining liberal party got crushed in election AND you have live with it til 2020. Live it with or move to Australia you spoiled brat!

    Creative Director and Author of The Last Great Australian Adventurer, Penguin Books Australia 2017
    Maplewood, New Jersey

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