Trump Tax Cut Not so Great

Whle the Republicans touted the tax reductions many Americans would experience, they failed to "advertise" a not so great aspect of the new law. In addition to increasing the federal deficit by massive amounts over the coming years, they also failed to mention a "gotcha" in the law as reported in the Retirement Security SmartBrief (11/19/18):
"An inflation adjustment written into last year's tax law will reduce the benefits of the Trump administration's tax cuts by allowing the IRS to gradually collect more from taxpayers. The standard deduction and tax brackets will rise in response to inflation more slowly, a change that will cost taxpayers $133.5 billion over 10 years, according to Congress's Joint Committee on Taxation." Read the details in the Wall Street Journal's MarketWatch: https://www.marketwatch.com/story/trumps-tax-cut-will-shrink-in-2019-thanks-to-inflation-switch-2018-11-15

Trump’s tax cut will shrink in 2019 thanks to inflation switch