At least not if you put them in correctly. The Wall Street Journal is now offering a specially designed calculator that will tell you how your tax liability will change under the new tax law changes.
Unfortunately it's behind a paywall, but if you're a WSJ subscriber or you're willing to become one Try it:
I just went through it for my family and, without sharing any details that are none of your business, I was pleasantly surprised. Not because I didn't think we'd get a tax cut. I've been writing about this bill for months so I knew it wasn't the scourge of the middle class we were told it was. But I was surprised by how big a tax cut we Calabreses got.
You might be pleasantly surprised too.
One reason this is surprising so many people is that the media focused more on the politics of the proposal than on the substance. When Democrats called it a "tax cut for the rich," the media didn't report whether or not that was true. They reported whether the charge was working as a political strategy. It would have been relatively easy to fact-check it, but they prefer to do that to Republicans' opinions (especially President Trump's) rather than using fact-checking as it's supposed to be used, which is to tell you whether something is objectively true or not.
Anyway, this calculator will do the job for you, since only you know your own personal information.
Are you getting a tax cut? I bet you are, but you tell me.
(Photo credit: John Jewell via Flickr)
At least not if you put them in correctly. The Wall Street Journal is now offering a specially designed calculator that will tell you how your tax liability will change under the new tax law changes.
Unfortunately it's behind a paywall, but if you're a WSJ subscriber or you're willing to become one Try it:
