TrumpTax

🇺🇸 Trump Tax Cuts: Key Information
Official Name:
Tax Cuts and Jobs Act (TCJA)
Signed Into Law: December 22, 2017
Effective: Most provisions started in 2018

📋 Major Features of the Trump Tax Cuts:
1. Lower Individual Income Tax Rates

Reduced most individual tax brackets.

Example: Top income tax rate dropped from 39.6% → 37%.

Lower brackets also shifted downward.

2. Doubled Standard Deduction

Single filer deduction: ~$6,500 → ~$12,000

Married couples: ~$13,000 → ~$24,000
(Many fewer people needed to "itemize" deductions.)

3. Child Tax Credit Expanded

Credit doubled from $1,000 → $2,000 per child.

Phase-out thresholds increased, so more middle-class families qualified.

4. Corporate Tax Rate Cut

Slashed corporate tax rate from 35% → 21%.

Goal: Encourage U.S. companies to invest domestically.

5. Pass-Through Business Deduction (Section 199A)

Certain small businesses (LLCs, partnerships) could deduct up to 20% of their income.

6. Estate Tax Threshold Raised

Estate tax exemption roughly doubled (to about $11 million+ per individual).

7. Limits on State and Local Tax (SALT) Deductions

Capped at $10,000 — hurt taxpayers in high-tax states (e.g., NY, CA, NJ).

8. Repeal of Obamacare Individual Mandate Penalty

The tax penalty for not having health insurance dropped to $0 after 2018.

📈 Effects (so far):
Economy: Short-term boost in economic growth (especially 2018–2019).

Deficits: Federal budget deficits increased due to reduced tax revenue (even before COVID-19 spending).

Corporations: Many companies used tax savings for stock buybacks rather than widespread wage increases.

Inequality: Critics argue the wealthiest benefited most; supporters argue middle-class families got tangible tax relief.

🕰️ Expiration Timeline:
Most individual tax cuts expire after 2025, unless Congress renews them.

Corporate tax cuts are permanent (unless changed by new laws).

#TrumpTaxCuts #TrumpTax #TRUMP #usa $TRUMP

President Trump Floats Major Tax Overhaul: Big Win for Crypto?

President Trump announced that the U.S. could significantly reduce—or even eliminate—federal income taxes once the new tariff system is fully rolled out.
This bold proposal could transform the economic landscape, fueling debates around inflation, government spending, and the rising importance of alternative assets like Bitcoin.

💬 How do you think this move would impact crypto markets and the broader economy? Feeling bullish or bearish? Drop your thoughts below!

👉 Create a post using #TrumpTax Cuts or the $BTC C cashtag, or share your trader profile and insights to earn Binance points!
(Just press the “+” button on the App homepage and head to the Task Center.)

Activity Period: 2025-04-28 06:00 (UTC) to 2025-04-29 06:00 (UTC)
Points are first-come, first-served—so jump in daily to claim yours!
#trumpTax $BTC

The Trump tax cuts did more than lower rates—they sparked real momentum for businesses and workers.

By reducing corporate taxes, companies had more capital to invest, expand, and hire. Small businesses especially felt the boost, creating jobs and driving innovation across the country. For working families, the standard deduction nearly doubled, meaning more money stayed in their pockets.

The numbers told the story: record-low unemployment, rising wages, and strong economic growth. Critics doubted it, but the results spoke louder.

The real legacy of the Trump tax cuts isn’t just past growth—it’s a blueprint for what’s possible when government gets out of the way and lets American enterprise lead.

#TrumpTax

#TrumpTaxCuts