your property values will go down; and you’re going to lose your deduction for state and local taxes—almost half of which goes to services like local public schools, police departments and firefighters.
If you are a teacher, you will lose your ability to deduct the money you spend on classroom supplies.
If you have kids in college, or have student loans, your taxes will go up because you won’t be able to deduct the interest anymore.
If you’re a grad student, your taxes could go up because your waived tuition will be treated as taxable income.
If you or anyone in your family is sick, your taxes will go up because you can’t deduct medical expenses.
If you’re a union member, your taxes will go up because you can’t deduct your dues.
however, you’ll be able to deduct your private jet now.