Do the math
When one listens to the evening news and hears the pols playing fast and loose with numbers, it can understandably make one’s head swim.
Stay with me, I promise that you can pass this math class.
At this point in time, the proposed Republican tax plan promises a tax savings of $1,182 per year for a family of four earning $59,000 per year. In order to keep the math simple, let’s be generous and round up to $1,200 per year. That is $100 per month, about $25 per week. (A little less actually).
Now, after passing my little math course, does that sound like a significant tax break for our average family? Still think so ? OK. That tax reduction, unlike the corporate tax reduction, is not permanent , it is on a declining basis after the initial years.
Now, if you would like to do some advanced math, that $1,200 per year tax break comes to about $3.25 per day. Enjoy your “free” cup of coffee while you can.