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This would, without a doubt, be a massive change for the majority.
But if youre earning just a bit more,say $200,000, what happens then?
Say you make $200,000 in 2025.
From there, your income is taxed in chunks based on federal tax brackets.
Thats a pretty big difference compared to someone making $140,000 just under the $150,000 cut-off point.
They would get to save around $20,000 on taxes under Trumps plan.
How Would the Government Replace Tax Income?
Trump plans to make up for the lost tax revenue by leaning on tariffs.
This means even those who might keep more of their paychecks could see increasedliving expenses.
