Posted on 11/19/2017 1:20:05 PM PST by Mariner
ATLANTA - A popular deduction targeted in the GOP's overhaul of the tax code is used by more than a quarter of all filers in a majority of states, including many led by Republicans where some residents eventually could see their federal tax bills rise.
The exact effect in every state isn't known, in part because of differences in the Senate and House versions of the bill. But the change to the deduction for state and local taxes could alter the bottom lines for millions of taxpayers who itemize.
Residents in high-tax, Democratic-led states appear to be the hardest hit. But some filers also could be left paying more in traditional Republican states, such as Georgia and Utah where about a third of taxpayers claim the deduction.
"It's a bad deal for middle class families and for most Georgians," said Georgia state Rep. Bob Trammell, leader of the House Democrats.
He said Republicans are eliminating the state and local deduction to help pay for tax cuts for businesses and the wealthy.
How many winners and losers are in each state depends in large part on another aspect of the Republican tax overhaul that would nearly double the standard deduction — to about $12,000 for individuals and about $24,000 for married couples.
Republicans say that provision would be a net benefit for most tax filers.
(Excerpt) Read more at sacbee.com ...
We know it’s all about SALT, Mariner.
You’re not fooling anyone.
The 24,000 sounds real good to me I will take that over the state and local tax deduction
“Businesses and corporations pass their taxes down to the consumer - the taxes are hidden in the cost of the goods and services that you buy”
For high earners that is the absolutely BEST tax possible. A regressive tax based on consumption.
Residents in high-tax, DEMOCRAT-led states appear to be the hardest hit & continue to reelect the DEMOCRATs that continue to tax them to death..There fixed it some more
“You’re not fooling anyone.”
I’m not trying to fool anyone.
I’m exposing rank hypocrisy.
Uh-huh. Get your statehouse to lower your taxes.
Expecting the rest of the country to subsidize them is what’s “rank.”
“Residents in high-tax, DEMOCRAT-led states appear to be the hardest hit & continue to reelect the DEMOCRATs that continue to tax them to death..There fixed it some more”
Residents who marry and have children appear to expect other taxpayers to subsidize their responsibility as parents to provide for their own.
So they enlist the government to demand it at the barrel of a gun.
Did he run on raising taxes for me? I must have missed that.
One good thing is that those who complain about normal marriage and “breeders” will not, for the most part, be reproducing themselves and will gradually die out as a significant portion of America’s population. The unfortunate thing is that such complainers frequently are supporters of the invasion of our country by Muzzies and illegals.
” you should make the first point dumping Social Security altogether, since those responsibly bred children will be funding YOUR Social Security”
Responsible persons don’t need Social Security. They provided for their own retirement.
Breeders. Those who have children."
The term breeders is mainly used by homosexuals, usually in a derogatory manner, to describe those who have children.
The marriage "Double Deduction" doesn't mean you get 2 deductions per person, rather each person receives the std deduction. (2 people, 2 deduction units for the claimant. The Income Tax form is performed as a couple, not as an individual.
Of course we can have it your way and insist single claimants only receive "Half" a deduction, but that doesn't make any more sense than somebody calling it a double deduction.
Bull. With the elimination of the personal exemption then the net increase in the standard deduction for a family of 3 is zero. For a family of four or more the taxable income goes up.
“Get your statehouse to lower your taxes.”
What does that have to do with a majority of unmarried American taxpayers, without child dependents, subsidizing those who choose to marry and have kids?
The use of ‘breeders’ is a trope of the LQBTWQ (or whatever) gang. In the mouth of a conservative, it is flame-bait.
For me it is a very small amount and would be more than offset by the increased standard deduction. I don't give a damn if people who vote for democRats in high tax blue states take it in the shorts.
How does losing the $4050 per person personal exemption sound?
And as always, the devil is in the details...if the overall tax structure is reduced to make up for the elimination of state/local tax deduction, then it should be a cause for Thanksgiving, not consternation.
Why should my children be subsidizing YOUR Social Security that you don’t need. Or are you not going to cash the checks?
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