“Unfortunately, what we know regarding the intentions of the President-elect and congressional leadership suggest that they are at risk of pushing through the most misguided set of tax changes in U.S. history,” wrote former Treasury secretary Lawrence Summers. “The proposals from the presidential campaign . . . will massively favor the top 1 percent of income earners, threaten explosive growth in federal debt, complicate the tax code and do little if anything to spur growth.”

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If you’re a very high earner, you may get a break on your tax bracket but that could be offset by fewer deductions.

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As David Leonhardt writes for the New York Times, Steven Mnuchin, Donald Trump’s pick for Treasury secretary, has said that there would be “no absolute tax cut for the upper class. There will be a big tax cut for the middle class, but any tax cuts we have for the upper class will be offset by less deductions that pay for it.”

So what can regular working folks expect? Here’s some reading for you to find out:

Howmuch.net, a a cost information website, has put together a graph that walks through Trump’s tax cuts and writes: “Some taxpayers would definitely benefit from Trump’s tax reform – especially those at the higher end of the income scale. There are others, however, who would see their tax rates go up. Especially those on lower incomes.”

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Color of Money Question of the Week

Read the last story. Are you willing to accept higher federal debt for a tax cut? Send your comments to colorofmoney@washpost.com and include your name, city and state. In the subject line put “Trump & Taxes” in the subject line.

Live Chat Today

If you’re worried about your retirement savings, you won’t want to miss the chat today at noon (ET). Joining me live is William A. Birdthistle, a professor at Chicago-Kent College of Law and author of last month’s Color of Money Book Club pick “Empire of the Fund: The Way We Save Now.”

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Here’s my review of the book.

Birdthistle advocates for opening up access to the federal government’s version of a 401(k), which is known as the Thrift Savings Plan. He thinks people should be tested before being allowed to invest in tax-advantaged retirement accounts.

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If you really don’t know how mutual funds work, come ask your questions. No question is too basic. To participate in the chat click this link.

How far would you drive for a discount?

I love the ability to search for things I want, order them and then pick them up at the store. Such a shopping combination saves on shipping and cuts down the time I have to wait for things to arrive in the mail.

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But one Ohio woman decided a six-hour drive was too much for a discount.

She had placed an online order at Kmart for some children’s boots and opted to pick them up in the store. Except the nearest store for pickup was in Chicago, more than 350 miles away, reported the local television station WCPO Cincinnati.

In a statement the retailer said: “We discovered that consumer confusion impacted the shopping experience, and the selection of an out of state store was unintentionally made. The team has since spoken to the member and resolved the concern to her satisfaction.”

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I can see how this happened. When you want something shipped to the store you’re typically asked to pick a location nearest your home. But if the item isn’t in that store you are directed to the next closest one. If you don’t pay attention the closest store might not be so close.

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So I love this tip from the station’s consumer reporter on this story John Matarese: “Double-check all confirmations when you place an online order.”

Sounds simple, but it’s too close to Christmas for an unexpected road trip.

Color of Money Column This Week

Financial news you can use

Retirement columnist Rodney Brooks’ Monday newsletter this week: How much money do you need to save for retirement?