diff --git a/src/posts/articles/trump-2024.md b/src/posts/articles/trump-2024.md index 81befed42..342d61203 100644 --- a/src/posts/articles/trump-2024.md +++ b/src/posts/articles/trump-2024.md @@ -38,7 +38,7 @@ Implementing all three policies would have varying effects on American household | Married | 2 | $150,000 | $0 | $0 | [$5,055](https://policyengine.org/us/household?focus=householdOutput.netIncome&reform=69665®ion=enhanced_us&timePeriod=2026&baseline=2&household=49234) | | Married | 3 | $1,000,000 | $0 | $100,000 | [$39,158](https://policyengine.org/us/household?focus=householdOutput.netIncome&reform=69665®ion=enhanced_us&timePeriod=2026&baseline=2&household=49239) | -For a single retired adult receiving just above the [average Social Security retirement benefit](https://faq.ssa.gov/en-us/Topic/article/KA-01903#:~:text=Views:,most%20convenient%20way%20to%20apply.) (first example), their net income would see no change as their benefits face zero taxation under the current structure. While net income does always rise with increased earnings, it does for most households which can be viewed in Table 1. This trend can be mainly attributed to the reduction in income tax rates from extending the TCJA. Additionally, families with children see an increase in net income due to the changes in the child tax credit (assuming their earnings are below the phase-out threshold). Households with high earnings, like in example five, see the largest gains. If they have real estate taxes that can be deducted using the SALT deduction, they benefit even more. Figure 1 shows how net income changes as household income rises for a married couple with two children (example four). +For a single retired adult receiving just above the [average Social Security retirement benefit](https://faq.ssa.gov/en-us/Topic/article/KA-01903#:~:text=Views:,most%20convenient%20way%20to%20apply.) (first example), their net income would see no change as their benefits face zero taxation under the current structure. While net income does not always rise with increased earnings, it does for most households which can be viewed in Table 1. This trend can be mainly attributed to the reduction in income tax rates from extending the TCJA. Additionally, families with children see an increase in net income due to the changes in the child tax credit (assuming their earnings are below the phase-out threshold). Households with high earnings, like in example five, see the largest gains. If they have real estate taxes that can be deducted using the SALT deduction, they benefit even more. Figure 1 shows how net income changes as household income rises for a married couple with two children (example four). **Figure 1: Change in Net Income for a Married Couple with Two Children Based on Household Income**