Trump's plan would more than double the standard deduction to $15,000. But that change would be outweighed by his elimination of personal exemptions and head-of-household status. So the family's taxable income would be $60,000, and their tax bill would be $2,440 more than it is now.
A married couple with four children and income of $50,000 would absorb a tax increase of $1,090 because of their loss of personal exemptions.
Trump proposes to reduce the number of tax brackets from seven to three, with rates of 12 percent, 25 percent and 33 percent. That would slash the top rate from the current 39.6 percent. He would repeal the estate tax, which affects only about 0.2 percent of estates -- those worth above $5.45 million.
For middle-income earners as a whole, the Trump proposals would cut taxes, even taking into account the increases on single-parent families. Those earning nearly $50,000 to about $83,000 -- the middle one-fifth -- would receive an average cut of $1,010, according to the Tax Policy Center. That would lift their after-tax incomes 1.8 percent.
By contrast, the wealthiest 1 percent -- those earning over $700,000 -- would enjoy a tax cut averaging nearly $215,000, boosting their after-tax incomes 13.5 percent. And the richest 0.1 percent -- those making above $3.7 million -- would receive a bonanza: An average tax cut exceeding $1 million.
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