DENVER — With two kids and another on the way, talk of tax changes are kind of a big deal to Tabitha Grubb.
“I’m just trying to keep a positive attitude no matter what happens,” the Denver mother said.
President Donald Trump’s proposal that came out Wednesday: Confusing, according to Grubb.
“There is so much out there where this is said and that’s said,” she said.
One proposed change would increase the standard deduction for married couples from $12,600 to $24,000. That idea is music to Grubb’s ears.
“I mean, that would help a lot. I’m not gonna lie. [But] I can already hear the ringing. ‘It doesn’t help me. What about this?'” Grub said.
All the talk of tax changes has caught the attention of Grubb’s husband, who owns a small graphic design company.
Trump’s proposal would reduce seven tax brackets to only three for 10 percent, 25 percent and 35 percent.
“I mean, it could be good,” Frank Hylsky said. “But you would have to say who’s in which tax bracket?”
The president also proposed eliminating tax deductions except for interest paid on home mortgages and charitable deductions.
Keep in mind these are just suggestions, Metropolitan State University of Denver professor Kishore Kulkarni said.
“The real action does not begin until Congress gets to work,” Kulkarni said.
It can cause some real headaches.
“Oh, very true. And it will give more headaches to the public as well because Congress is going to make a lot of minor changes on these suggestions,” he said.
Get ready for the tax code roller coaster.
“I go with the flow. I guess I don’t want to stress myself out too much,” Grubb said.