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To: editor-surveyor
You do realize that you are full of $hit, don’t you!

No, I can't simply do math.

First of all, only 3 in 10 households even itemize, period. That eliminates virtually all but the upper middle class and the upper class seeing any real benefit from SALT.

Then per the article above,

"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."

Given that the marginal rate on incomes over $200k starts at 28% and goes as high as 44% (with ACA surtax)

, a blended rate of 35% is not unreasonable to assume. So $6,295 tax savings / .35% rate = $18,000 in extra itemized deduction being stand TODAY. $6,350 * 2 = $12,700 increase in standard deduction covers more than 2/3 even for married couples over $200k (which is top 5% of households).

64 posted on 10/28/2017 4:27:38 PM PDT by rb22982
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To: rb22982

.
As I already said, yopu are either full of $hit, or made of it.


66 posted on 10/28/2017 4:30:53 PM PDT by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)
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To: rb22982
Those figures are just damned guesses/mediums, at best!

Property taxes and state and yes,in some places,city taxes, for many, far exceeds whatever the benefit of doubling of a personal deduction will be.

84 posted on 10/28/2017 4:55:37 PM PDT by nopardons
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To: rb22982

Most mortgages these days are more than $1,000/mo. $12K/yr meets or beats the std deduction without charity or state/local tax write offs. Maybe people are too stupid to itemize?


158 posted on 10/29/2017 9:31:59 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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