Posted on 04/17/2018 8:17:02 PM PDT by BenLurkin
President Donald Trump’s tax cuts will be anything but for about 1 million California taxpayers who will owe Uncle Sam more money a year from now.
They’re the Californians who will lose a collective $12 billion because the new law caps a deduction they have been able to take for paying their state and local taxes, according to a new analysis by the Franchise Tax Board.
Very wealthy Californians earning more than $1 million a year will pay the lion’s share of that money, with 43,000 of them paying a combined $9 billion.
...
Overall, most Californians should see a tax cut. The new federal law doubles the standard deduction available to all taxpayers, and it increases a child tax credit. It also slashes corporate tax rates.
(Excerpt) Read more at sacbee.com ...
Cool!
The Excremento Bee has always favored more taxes. So, I guess this is a positive reason to support President Trump now.
So now Californians are going to discover that the rest of the country really is paying for their government....
“Liberal millionaires have been begging to have their taxes raised. So...voila!”
Exactly, so what is their problem? By the way this Californian got a tax cut. Thank You President Trump
They should declare themselves a tax free sanctuary.
I've not seen a tax break...but did not expect one.
They should rejoice and be glad to pay more.
The big lib billionaires/millionaires have been begging for more “taxes” and wanting to pay more than their “fair share” for years now. Here’s their big chance to do so....ENJOY!!!!!
Excatly! Pay their fair share!
That Trump! What can’t he do?!
Tax cuts except for those who want to pay more taxes!
Tax the rich right?
1M owe 12B
You got it.
Hollywood stars, I hope
Oh no!! This will surely ruin his chances of winning California again in 2020....Oh, wait....nevermiiind...
"The rich finally paying their fair share".
Interesting omission, eh what?
Maybe they’ll get some homeless people living in their backyards too!!
So, wealthy progressives are all for ‘progressive’ income taxes...
...except for themselves.
The hypocrisy of progressives is amazing.
Aren’t progressives all about the rich paying their fair share or does that only apply when it’s others paying it?
awww ain’t that a pity..perhaps these rich liberals need to give more, after all they claim to care about folks, come on libs cough up the dough
Progressives are all about OTHER people paying their fair share, never themselves
“So now Californians are going to discover that the rest of the country really is paying for their government....”
That’s awesome ignorance right there. We rarely see it reach such levels.
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