tax cut right away, year one. if you are one of those 57% of americans who say you don t even have $500 for an emergency, this really helps you. let s talk about those people who itemize their taxes who live in high tax states, let s talk about a couple making $115,000, living in a high tax state. let s say they ve got $8400 and a mortgage interest payment. they can still write all of those off under this plan and they will still see a tax cut of $1,130. $1,130. if they have kids, and even larger tax cut. not only do people get to keep more of their own money in their own pocket, we dramatically simplified the taxes i made it more fair. today, 7 out of 10 americans don t itemize deductions. 70% of americans take what we
tax cut right away, year one. [ applause ] if you re one of those americans who say you don t have $500 to go to an emergency, this really helps you. let s talk about people who itemize taxes, who live in high-tax states. let s talk about a couple making $115,000. living in a high-tax state. let s say they ve got $8,400 in a mortgage interest payment and $6900 for property taxes for the year. they can still write all of those off under this plan and they will still see a tax cut of $1,130. if they ve got kids, an even larger tax cut. not only do people get to keep more of their own money in their own pocket, but we dramatically simplify the tax system. we make it more fair. today, 7 out of 10 americans don t itemize their deductions.