Meno – it doesn’t “have anything to do with” it, but if I used to subtract (in rough numbers) 12k for standard deduction and then 40k for exemptions i subtracted 52k off the top of my income. Now I will subtract 24k but not the 40k so it will only give me a 24k reduction in taxable income. An empty nester was deducting 12k with 8k in exemptions and will now deduct 12k, which means they come out ahead in that regard. don’t see how the doubling could make an empty nester not gain something by the doubling or how he meant that it was meaningless.
I can get you a calculator if that would help….
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