Mick

Yet this is the current latest proposed changes to the bill... So I do not see the above being very accurate.

• First, for single Individuals:
  
• 10%: $0 to $9,525 of taxable income for an individual
• 12%: $9,526 to $38,700 individual
• 22%: $38,701 to $82,500 individual
• 24%: $82,501 to $157,500 individual
• 32%: $157,501 to $200,000 individual
• 35%: $200,001 to $500,000 individual
• 37%: over $500,000 individual
  
  And second, for joint filers:
  
• 10%: $0 to $19,050 for married joint filers
• 12%: $19,051 to $77,400 joint
• 22%: $77,401 to $165,000 joint
• 24%: $165,001 to $315,000 joint
• 32%: $315,001 to $400,000 joint
• 35%: $400,001 to $600,000 joint
• 37%: Over $600,000 joint

Under the final version of Republican plan, there would still be seven federal income tax brackets. The brackets proposed are 10%, 12%, 22%, 24%, 32%, 35%, and 37%.

---------- Post added at 22:40 ---------- Previous post was at 22:05 ----------

• First, for single Individuals:
  
• 10%: $0 to $9,525 of taxable income for an individual (Currently 10% up to $9,325)
• 12%: $9,526 to $38,700 individual (Currently 15% $9,326 to $37,950)
• 22%: $38,701 to $82,500 individual (Currently 25% $37,951 to $91,900)
• 24%: $82,501 to $157,500 individual (Currently 28% $91,901 to $191,650)
• 32%: $157,501 to $200,000 individual (Currently 33% $191,651 to $416,700)
• 35%: $200,001 to $500,000 individual (Currently 35% $416,701 to $418,400)
• 37%: over $500,000 individual (Currently 39.6% $418,401 or more)

So as you can see I have put in the brackets what the current tax brackets are.

If low earner was on $9,500 a year on the current system, they would be in the 15% Income tax bracket. On the new plan, they would not, they would be in the 10% bracket and save $475 in income tax a year.