ASnd how about that "great" DACA and amnesty crap in this Bill and the the fact that companies will still be able to deduct state taxes and more than just that?
That’s what I mean! I don’t want any deductions, credits, or loopholes in the federal tax system. Hard, nice flat 10% income tax would solve a lot of our problems.
Not being able to adjust to basis of long held assets for gov’t caused inflation is criminal.
Not being able to adjust the basis of long held assets for gov’t caused inflation is criminal.
We want people to be able to deduct their children because children propagate the species and we need lots and lots of Middle Class working people in the future to pay for those on Social Security and Medicare who never had children.
We want people to deduct their mortgage interest because we want people to be homeowners People who own their own homes are more stable and ultimately build more wealth thereby increasing the wealth of the country and making more people middle class. This is a good thing.
We should eliminate SALT deductions because we want efficient and frugal government at all levels and profligate local and state spending is presently supported by the wage earners in low tax states. The states will be under pressure to reduce their profligate spending and taxes when the local citizens can no longer deduct their insanely high state and local taxes shifting the burden to lower tax states.
That is the theory anyway.