States ranked by claims for state and local tax deductions

AP and ABC News ^ | 18 Nov 17 | AP Staff

[rbmillerjr]

The SALT (hmm remember a different SALT in the day), will get figured out, as they will have to solve that in Committee.

Then, the overall package will consist of large tax cuts for middle America, equalizing corporate tax cuts (yes the US corporate rates are some of the highest in the world) and a small but meaningful reform of the system, which will hopefully in time lead to much larger reform.

By the way, the angst against corporate tax cuts is very disappointing to see on a conservative website like this for 2 big reasons.

1. The Reagan/Kemp wealth creation and growth conservatism seems all but dead.

2. Liberal media and DNC envy and class propaganda seems to have bled into conservative thought.

[longtermmemmory]

I believe there are at 3-8 states with no income tax. Those with constitutional amendments or (in the constitutions) prohibiting sales tax are doing financially ok.

[familyop]

"Yes, that way you can pay 45.6 percent if you make between 1.2 and 1.6 million dollars."

Whoah! On federal? Some lower rates are needed! What happened to what we were told would be a highest rate 38.x percent or something like that (was 39.x percent?)? I can see why they're not mentioning any likelihood of spending cuts for the near future (politics), but some of the higher rates should be lowered more than what is seen in the bill. It's good to see corporate lowered to 20% anyway. Could be even lower to skunk the competition overseas.

[Tolerance Sucks Rocks]

Trump had 35% as the top rate. I would recommend 25% as the top rate, for income above the FICA cap, with 12% for anything below that.