Posted on 01/24/2018 3:29:31 PM PST by C19fan
Legislation that first surfaced in California to give taxpayers a way to avoid the new cap on state and local tax (SALT) deductions by making charitable donations has popped up in four more states so far, with others reviewing alternative methods. Changes to the U.S. tax system signed into law by President Donald Trump in December have sparked a furious search in states with high income and property taxes for loopholes to help residents replicate the benefits taken away by the $10,000 cap on federal SALT deductions.
(Excerpt) Read more at msn.com ...
It’s tax fraud.
States are not IRS tax-free charities.
LOL!
“Mandatory charities.”
Well, taxes are...
How can this be a winner for the democrats, are they really that stupid? Trump and the Republicans have given the American people the first meaningful tax cute since Ronald Reagan. Now the democrats want to take it away from the people? It appears they are vying to be hunted down and run out of town.
This won’t fly with the IRS.
Sounds like plain, old “Fraud” to me.
There is a very large segment of our population, unfortunately, that even if they were rounded up and put into camps in striped uniforms by the Democrats, would vote for the Democrat party even inside the electrified barbed wire.
As was pointed out in earlier threads, if a state reduces your tax bill by the amount that you “donate” to the state, you have to subtract the value received from the donation. So until you donated more than the amount of your taxes, you have zero charitable deduction.
If the tax changes have left in place deductions for charities, then I don’t see the illegality of it.....it’s just that I don’t get the math...it won’t help much those folks who still have to pay high state and local taxes.
There is a very large segment of our population, unfortunately, that even if they were rounded up and put into camps in striped uniforms by the Democrats, would vote for the Democrat party even inside the electrified barbed wire.
That “large segment” would be approximately half the population. Hard to see a way back from this insanity given that.
You can fool some of the people some of the time but don’t mess with the IRS.
Or, presumably, with SCOTUS if it gets that far.
To a large extent the IRS relies on intimidation. If states en mass pull this l think they might get away with it.
A scheme for the rich.
I think you described some of my cousins living in NY, NJ, and Chicago
“...a tax avoidance scheme by the wealthiest Americans...”
The whole point is that reducing taxes stimulates growth, and the democRATS don’t want growth....it contributes to glo-bull warming.
The democRATS want taxes as high as possible to strangle the USA and kill off the middle class. Once the middle calss has been dispatched, and guns become prohibitively expensive (if you’re making minimum wage, guns are extremely expensive) they can then vote to repeal the 2nd Amendment.
This is all about creating a two-tiered society. The wealthy and everyone else.
I’m moving to California! No, wait! I’m just going to mail them some money as a donation from my low tax home because I want to be a part of the resistance!
BWAAAHAAHA HA HA Ha haha haha haheeheehee...
Got the idea from the Clinton Foundation ,LOL
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