How will trumps tax plan effect me if it goes into effect?

To my knowledge details of the plan are not yet known.

You probably will pay a little bit more, like in the few hundred dollars range. I don't remember the numbers exactly, but you are likely at the 25% bracket, and those at that bracket will most likely stay there. But there will be several significant changes for you. You would not be able to claim interest deductions on a mortgage that the rest of us have been enjoying for the past several decades. You will not be able to claim the earned-income tax credit. You would not be able to claim the standard deduction. You would not be able to reduce your tax burden through charitable contribution. You would still be able to lower your taxes if you took a loss in the stock market, but you would only see true tax reduction if you started a corporate business and began paying yourself a salary.

You'll pay MORE tax so billionaires like Trump and their big corporations can pay LESS. This is what happens in every "tax cut" - shift the tax burden off of billionaires and onto hard-working middle class Americans.

You'll be fine