Posted on 09/28/2017 9:15:45 AM PDT by NohSpinZone
Many Californians face a big financial hit under the Republican tax plan, which would eliminate a major tax break that benefits state residents more than those anywhere else in the U.S.
The federal deduction for state and local taxes allowed Californians to reduce their taxable income by $101 billion in 2014, according to an analysis by the nonpartisan Tax Foundation.
The tax outline released Wednesday by President Trump and top congressional Republicans would ax the break, which largely benefits residents in states that are Democratic strongholds.
(Excerpt) Read more at latimes.com ...
The median income for family of four in the US is $50K. The median price of a house is 190K. Californians, especially in the Bay area, have been enjoying are TAX CUTS FOR THE RICH by comparison.
Think the rich should pay more in taxes? Good. Here's your golden opportunity to participate. Support the plan. I know you won't though, you HYPOCRITES!
It is another great Trump plan.
Tax cuts and crush the deep blue states.
Hey CA, NY, CT and NJ. Taxing your own citizens is your right but the Feds (ie - the REST of us) shouldn’t subsidize it.
Tax benefits for the rich as usual. Makin’ the wealthy wealthier one dollar at a time. /s
Ironically and somewhat painfully, this plan should also revive the pub party in the high tax states.
as it stands, this tax “cut” would cost simple people like my husband and I...there is no tax cut for us...
Yep that’s my point. We need this to make the citizens feel the pain and wake us up to to the fact how profligates our cities, counties and especially Sacramento has been. These tax deductions are basically subsidizing the ability for the Democrats in this state to be as profligate as they want.
Wake the F up, California.
I live in NYS. I agree.
Homeowners now can deduct interest paid on as much as $1 million in mortgage debt. Some Republicans have been considering reducing the limit to $500,000. If that were to happen, about 489,000 filers in California would see an average increase of about $3,290 in their federal taxes, according to an analysis by the nonpartisan Tax Policy Center.
Tax benefit for the rich. Pay up California.
Liberal states like Calif, NY, NJ, IL have been having the rest of the country subsidize their high state taxes for decades. Their idiot residents elect liberals who raise taxes which their people say is no big deal cause they get to deduct them from the Federal taxes. It’s time to stop that and make them feel the pain of their own stupidity.
Could you please explain how much your taxes went up, because people in states who have to pay state income taxes, were able to deduct them on their federal tax forms?
You don’t need to tell me the cents part. Just rounded dollars will be okay.
Folks, don’t we want to cut taxes?
Since when do we line up to say, “Oh great. Yeah, I believe in more taxes. Why tax those people. It’s only right.”
Anything that lowers people’s tax exposure is fine with me.
I hate taxation. Anything that reduces it for anyone, is a-okay with me.
I get it. Trump tax cuts BAD for us Californians. Jerry Brown tax increases GOOD for us Californians.
Makes sense. /sarc
Many Californian’s are under the mistaken belief that California pays more than their fare share of Federal taxes. When in fact the opposite is true.
California was 16th in per capita Federal taxes. Granted they pay more Gross but it’s only 10K+ per person.
They need to get their own house in order. I don’t want to subsidize their obnoxious state tax with my federal tax.
Uh-oh. Now Californians may not vote for Trump in 2020.
That’s a shame.
It’s way past time to bring the hammer down on CA.
Such a good point. Liberals can’t do math - that’s for sure. They make this same mistake with crime stats when they say white people actually commit more violent crime than blacks.
OK, numbnuts, but how many white people are there compared to blacks in this country? Ever think to factor in this bit of information before spewing your “facts”?
Too many parasites depend on current tax codes to make their money. Should be a simple, across the board, 10-15 percent tax on all spending. None on income or capital gaines. Period.
I guess that’s how they got to the place they are.
$20 Trillion in Federal deficits.
How much does my family owe on that to make your life in a high tax state a little easier...
++++++
Could you please explain how much your taxes went up, because people in states who have to pay state income taxes, were able to deduct them on their federal tax forms?
Since when have the Democrats ever cared about the tax burden on anyone? Well ok, maybe Hollywood.
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