If taxes go up even on blue states i don’t see how that helps Trump or the GOP with the state and local taxes deduct going away. He needs thier votes also
These blue states are big spenders, have way higher taxes than places that have no state income tax, so they right off their big state taxes, and cost shift the tax burden to red states that operate more fiscally sound policies.
Simply said high tax states get tax relief for their high public service wages and benefits on the backs of us frugal
spenders.
Maybe not being able to have us pay for their drunken spending will sober their taxpayers and make them more frugal too.
If taxes go up even on blue states i don’t see how that helps Trump or the GOP with the state and local taxes deduct going away. He needs their votes also.
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Cutting the Fed tax rate and doubling the standard deduction is the plan. Only people with high income and high SALT would possibly experience tax increases. ....I thought the Dems wanted to ensure the rich didn’t get tax cuts????
Middle and lower income folks often don’t have enough deductions to itemize. ...They are often renters or have low incomes that lead to the standard deduction.
My 35 year career with my employer ended Pearl Harbor day in 2001, when I was 59 and divorced. I agreed to a contract that said I could not apply for unemployment, in exchange for full medical until Medicare at 65. However, I had to live and pay my bills for about 10 months with ZERO income, until my pension began paying.
Got refunds from the IRS for a couple of years. Then I began doubling up on mortgage payments (paid off 30yr. in 20). Interest amount + property tax was less than std. ded., so I’ve had to do std. ded. for about 6 years and pay thousands each year to IRS.
A lower tax rate and double the std. ded. will save me and millions of others a ton of money. ...Sorry for the length..