How Will Trump's Tax Plan Affect Single Parents? It Doesn't Look Like It Will Help Much
President-elect Donald Trump won a surprise victory over Democratic nominee Hillary Clinton on Nov 8. based in part on his platform of helping the average, every day American family. Trump touted himself as a true anti-establishment presidential nominee, a man for the people who would offer massive tax cuts for everyone except that dastardly one percent of the very rich. Well, he has been elected, and how does Trump's new tax plan shape up for single parents, for instance? Because as one single parent to another, we are a demographic that could use a bit of a break every now and then.
According to the Tax Policy Center, Trump's new tax proposal;
So congratulations to the highest-income households, I suppose. But what about the 12 million single parent households in the United States, 80 percent of which are headed by single moms? Should they be breaking out the bubbly and celebrating the sweet new tax breaks they should expect?
No More Head of Household
Single parents, thanks to Trump you won't be able to file as head of household anymore. https://t.co/w9keRwp4yJ— Matt Zoller Seitz (@mattzollerseitz) November 15, 2016
Trump's tax plan would eliminate the head of household status for single parents, meaning they would be filing as individuals. This means the majority of single parents in most income ranges would see their taxes go up. (And just out of curiosity, if a single parent isn't the head of household, who exactly is?)
From Seven Rates To Three
when you think you can trust your coworker but then they say "you win some, you lose some" about trump's tax plan for single parents...— emily (@emilys1DAF) November 16, 2016
Trump's grand plan to simplify everyone's taxes by reducing the tax schedule from seven rates to three rates will actually make things worse for single parent households. According to Forbes:
From where I'm standing, it doesn't seem like Trump's looking out for single parents at all. And I'm standing as the head of a household of four sons, bills to pay and mouths to feed. The last thing any single parent needs to be doing is paying more taxes.