Back of the napkin math on Trump/GOP fuckery on 401k in my own financial situation.

I max out my 401k. No kids and tight financial control. That means if GOP drops the 401k max down to $2,000, I’m going to see a tax hit of …

$15,000 taxed at the 33% rate.

Yeah, so I get whacked for essentially $5,000 more in taxes. I’d have to hope that other deductions and credits aren’t hit as well, and that the so called expanded standard deduction makes up for it (*cough* not likely), or the itemized deduction is still applicable in my case.

Oh, and since I live in NJ, I’m likely going to see my taxes go up even more if GOP/Trump get rid of the mortgage interest deduction (or curb it) or the state & local tax deduction.

That combination would mean that someone like myself who is upper middle class would see a massive tax hike, all because Trump and GOP want to give millionaires their massive tax breaks, like the estate tax repeal.

Fuck this GOP and fuck Trump.