Gary Cohn: Typical US Family Earning $100,000 to Get $1,000 Tax Cut Under Trump Plan

[Bigun]

During the boom I was making between 200K and 250K a year, which is pretty good, but being self employed, meant I ended up putting close to half a million in the Obama Administration's coffers even as they were removing my health insurance and fighting the oil industry tooth and nail. Those were good years, but I want my money back. (I know, we can all dream). It just seems every time they monkey with the tax code, my end of the stick gets nastier.

You are only rich if you have a job and earn income. 

[Smokin Joe]

You are only rich if you have a job and earn income.

Yeah. everyone else gets a tax cut...

[Chosen Daughter]

Trump still  has not made his tax documents public.

Last I heard the GOP had not yet revealed the income ranges for their three new tax rates.

Did Cohn release that info ??

Was it the briefing where he said people would get $1,000?   Then he said people could renovate their kitchen?  That was hilarious!

I want to know what people making half that are going to get.

[RoosGirl]

Yeah. everyone else gets a tax cut...

Ooohh...I guess i should get one now since I'm a stay at home mom.  I will have to cancel that part time job interview I have tomorrow.  It'll cost me too much in taxes.

[Chosen Daughter]

Ooohh...I guess i should get one now since I'm a stay at home mom.  I will have to cancel that part time job interview I have tomorrow.  It'll cost me too much in taxes.

Isn't that the truth!  I was a stay at home mom when my kids were little.  It was hard and we had to scrimp but daycare would have eaten up almost my entire check.  So I thought I would rather raise my kids than have someone else do it.

But blessings to you.  I pray you get your job.

[RoosGirl]

Isn't that the truth!  I was a stay at home mom when my kids were little.  It was hard and we had to scrimp but daycare would have eaten up almost my entire check.  So I thought I would rather raise my kids than have someone else do it.

But blessings to you.  I pray you get your job.

Thank you!  It's a part time, work from home, engineering job.  I would be telecommuting "in" to work.  I hope it works out.  The extra money would be helpful and I would still get to be with my son and homeschool.

[KingsX]

Was it the briefing where he said people would get $1,000?   Then he said people could renovate their kitchen?  That was hilarious!

I want to know what people making half that are going to get.

I've already done my personal math.

If the GOP's $12,000 deduction is for 2018,  it will negatively affect me.

[Chosen Daughter]

Thank you!  It's a part time, work from home, engineering job.  I would be telecommuting "in" to work.  I hope it works out.  The extra money would be helpful and I would still get to be with my son and homeschool.

Sounds like a great opportunity.  I will be praying you get the job.  I am sure you will.  I am glad you can homeschool too.  Homeschool kids do far better.  Wish I had done that.

[Smokin Joe]

Was it the briefing where he said people would get $1,000?   Then he said people could renovate their kitchen?  That was hilarious!

I want to know what people making half that are going to get.

New hot plates for everyone!

[Chosen Daughter]

Not to be a nit picker, but is the typical US family earning $100,000?

That's what I was wondering.

[Chosen Daughter]

New hot plates for everyone!

That's about the extent.  Maybe a new dishwasher.

[Smokin Joe]

That's about the extent.  Maybe a new dishwasher.

Oh, lawsy no. Cain't afford no more chilluns.

[InHeavenThereIsNoBeer]

Not to be a nit picker, but is the typical US family earning $100,000?

Last I looked it was in the high 50's. 

But give it a little time.  Once the Fed figures out where the inflation they can't find (HINT, LOOK AT STOCK AND BOND PRICES) that they caused by "stimulating" the "economy" we'll all be making $100K flipping burgers.

[Smokin Joe]

Last I looked it was in the high 50's. 

But give it a little time.  Once the Fed figures out where the inflation they can't find (HINT, LOOK AT STOCK AND BOND PRICES) that they caused by "stimulating" the "economy" we'll all be making $100K flipping burgers.

...and 'happy meals" will cost $20