Posted on 10/28/2017 2:30:22 PM PDT by TBP
Yes let me pay a tax on a tax. Republicans are ridiculous on this. Im tired of subsidizing Alabama etc.
The reporter also doesnt tell you that residents of those states pay more to the federal government than they receive from the federal government. F the South.
What the left wants to protect are the rich celebrities who donate millions to Planned Parenthood and other far left groups..these celebrities give big bucks to Dems they dont want to lose their meal tickets
It is interesting to watch the liberals squirm on the elimination of the deduction for state and local taxes. Not sure if it gets signed into law but it is sure providing good entertainment in the meantime.
Keep can your SALT if give up all your Sanctuary Cities and States you Blue Landers.
Simple solution. Flat tax.
10% on EVERYBODY. No excuses. No deductions.
Maybe only exception below poverty level.
What? The benefits of SALT go to high tax states, such as New York and California. Alabama subsidizes the high tax states since the reduction of federal tax in the high tax states has to be made up by taxing the other states.
But don’t take my word for it. This comes from the Tax Foundation, which provided the statistics for the article above.
The deduction favors high-income individuals who are concentrated in high-tax states. Six statesCalifornia, New York, New Jersey, Illinois, Texas, and Pennsylvaniaclaim more than half of the value of the deduction.
https://taxfoundation.org/eliminating-salt-deduction-big-six-tax-plan/
The Joint Committee on Taxation calculates that for those earning more than $200,000, the SALT deduction cuts their federal tax bill by an average $6,295. For those with incomes of between $100,000 and $200,000, it’s just $857. Those earning from $30,000 to $40,000 get an average of $93 off their federal tax bill.
Interesting. But I don’t think it’s just rats, Rino also will fight this. The destruction of the middle class is always the result of progressivism.
Know a guy who works for a major news network. On the team that followed Obama, Shillary and Kerry now Trump to foreign countries or where ever. When I told him I thought the ruling elites only are interested in one class, the donor class. He gave me a surprised look and said “You get it!”
This is a tax break that benefits anyone who itemizes.
>Six statesCalifornia, New York, New Jersey, Illinois, Texas, and Pennsylvania
>claim more than half of the value of the deduction.
Texas has a sales tax but no state income tax.
-Frank
As I understand it, you can choose to deduct state income tax OR state sales tax.
There are LOTS of middle class people, in many different states, who would be harmed and harmed BADLY, if the property, city, and state tax deductions are taken away!
I’ve NEVER donated to PP in my entire life, nor donated to or voted for any DEM candidate.
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The title of this rant is an absolute lie.
The State tax deduction benefits all who actually pay taxes, and go through the trouble to itemize their deductions.
This has nothing to do with “Elites.”
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Those people poverty level pay NO taxes; but they live on yours and mine!
Those here, who rejoice in "sticking it" to those who live in states with high taxes, are hypocrites, who would scream blue murder, if THEIR ox was being gored!
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This is one of those rare cases where Nancy Pelousey is right and the greedy taxers are wrong.
If this deduction is lost, it will harm the economy considerably.
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WRONG !
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Eliminating this deduction will turn Trump’s “Tax cut” into a tax increase for all middle class payers.
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