yep.... no taxes on the first 12k for singles and no taxes on the first 24 k for married. then rates for adjusted income will be 10% (reduced from 12%) and 25% was a sliding scale somewhat higher and 35% down from 39%
So basically if you are married and make 100k... you get a 24k deduction off the bat. get it down with mortgage kids whatever charity.... to say 50k and you pay flat rate 10%
This would most likely mean... you got it down to 40k or so and pay 4k in taxes... before..... you got it down to say 60k and paid 12% of that.
No single person pays a dime if he only makes 12k... no married if they only make 24k not many in that bracket but.... Oh... he wants to eliminate the death tax. Lots of breaks for small business too.... when you add the gutting of the oppressive EPA to tax breaks... it starts to make sense to open a small business nowdays.