To: Nachum
Obama says we won't get to deduct state or property taxes on our federal returns. Instead of paying federal tax on your adjusted gross (less state and property taxes), you'll be paying federal taxes on the part the state and county already confiscated. My state and property taxes add up to about $16,000 annually. I'll have to pay 39.6% of $16,000 to the feds on money already confiscated by government (state and local).
37 posted on
03/08/2009 1:55:34 PM PDT by
Myrddin
To: Myrddin
Obama says we won't get to deduct state or property taxes on our federal returns.That will also hurt the Dem states more than the rest.
43 posted on
03/08/2009 2:15:37 PM PDT by
expatpat
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