what are two bad tax changes and why?

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Following are the two bad tax changes according to me:-

1) Standard deduction has been doubled. However, along with the same personal exepmtion has been eliminated. A single tax filer's deduction increases from $6,350 to $12,000. The deduction for married filing jointly increases from $12,700 to $24,000.

Here, those who were claiming just 2 deductions of $4150 will get a good benefit of doubled standard deduction. But those who used to claim more deductions like 5 or 6 will have to pay higher tax. There is no other deduction available for sucn families. This is not good equality. According to me this provision should change.

2) The Act eliminates the corporate AMT. Also, it reduces the minimum corporate tax from 35% to 21%. The move is good to attract more cosporations to be formed. However, unlike corporations, the alternative minimum tax for individuals was not repealed.

The tax bill is good for big corporates, but not for individuals and small businesses.

ekkarill92 answered 8 months ago

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