GOP unveils the #TrumpTax plan

It's too early to decipher the Trump Tax plan (written behind closed doors & unveiled today by GOP leaders). We'll learn more as journalists examine the plan more closely. 
But of course, this being republican legislation, the main reason for the plan is tax cuts for the rich & corporations:
https://www.washingtonpost.com/news/wonk/wp/2017/11/02/winners-and-losers-in-the-gop-tax-plan/?utm_term=.687dede6be34

"American mega-businesses would get a substantial tax reduction. The bill cuts the top rate that large corporations pay from 35 percent to 20 percent, the biggest one-time drop in the big-business tax rate ever."

"The bill eliminates the alternative minimum tax, which forces people who earn more than about $130,000 to calculate their taxes twice, once with all the deductions they can find and once with the AMT method, which prevents most tax breaks. There is perhaps no better example of how much this will benefit the rich than that fact that Donald Trump would have paid $31 million less in taxes in 2005 (the one year for which we have his tax returns) without the AMT." 

& when the deficit soars as a result of these massive tax cuts, Elizabeth Warren said it best on CNN; the GOP will just cut Medicare & Social Security. 
For someone like me in the middle-class, I would jump to the 25% bracket:
http://www.businessinsider.com/trump-gop-tax-reform-plan-bill-text-details-rate-2017-10

"New individual tax brackets:

• 12%: Applies to incomes up to $45,000 for an individual and $90,000 for a married couple.
• 25%: Applies to incomes up to $200,000 for and individual and $260,000 for couples.
• 35%: Applies to incomes up to $500,000 for an individual and $1 million for couples.
• For single parents that are heads of households, the thresholds would be the midpoint between individuals and joint filers, expect for the highest bracket which would still kick in at $500,000."

But things are not so clear. According to this chart (based on my current income), I'd save more money than I do now (I can only hope the GOP doesn't fuck that up):
http://www.businessinsider.com/trump-tax-plan-take-home-pay-2017-9

"If your income falls into the 25% bracket, you don't give the federal government 25% of your income. That would be a flat tax, the type of tax reform favored by Ted Cruz, but it isn't how our current progressive tax system operates.

Here's how the most basic calculation works — something you probably learned in high school government class and then quickly forgot — for a single taxpayer who will not itemize their deductions in 2017:

1. Figure out your taxable income: annual salary — deductions — exemption(s)
2. Everyone pays 10% federal income tax on their first $9,325 of taxable income
3. Everyone pays 15% federal income tax on their next $9,326 to $37,950 of taxable income
4. Everyone pays 25% federal income tax on their next $37,951 to $91,900 of taxable income
5. And so on through the rest of the tax brackets up to your total amount of taxable income."

Nevertheless, even if you do save some money, question is; at what cost? 

The NYTimes has information on the many losers. Among other things, the Trump tax plan does the following:

https://www.nytimes.com/2017/11/02/us/politics/tax-plan-republicans.html

     * "Eliminating the medical expense deduction..."

     * "Some tax credits are eliminated..."

* "Changing the mortgage interest deduction..."

     * "Adding limits to the state and local tax deduction..."

On that last point, "limits to state & local tax deduction", Trump's & the GOP's strategy appears to be to punish high-tax blue states. Republicans from those states will have to oppose it or face a voter revolt:

"Representative Dan Donovan, a Republican from New York, said he remained concerned about the impact of the state and local tax deduction as he left a briefing on the bill but said he would assess the proposed changes on their entirety.

“I’m looking for a benefit for the people I represent,” he said. “The people of New York City deserve a tax break.”

Representative Tom MacArthur, Republican of New Jersey, accepted the concept of retaining the deduction for property taxes as a compromise. But he said the $10,000 cap “needs to come up a little bit.”

Another New Jersey Republican, Representative Frank LoBiondo, said he would oppose the bill in its current form."