And then the rates go up as you get higher in the income back. So right now, if you're single, the first $14,600, you functionally have almost no tax. But If you're single, when the provisions expire, that number gets functionally cut in half, becomes $8,300. If you're married today, it's 29,200. This is the standard deduction. It will go back down to $16,600. So no inflation adjustments. Your taxes are going up next year. (07:21–07:29)
CLAIM
Asserts that the standard deduction for single filers will decrease to $8,300 when provisions expire.
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