Posted on 11/28/2017 9:39:50 PM PST by Oshkalaboomboom
My family would save over 25% on federal taxes with the two calculators I used.
It appears a large number of two income families up to and over $160,000 would do likewise.
I’m in CA and stuck with high SALT.
But how easy is that? It's like shooting fish in a barrel. Everyone, even liberals (although they won't admit it), want their taxes lowered.
A truly great politician is one who can regularly balance budgets... especially if those budgets are flat or trending downward. Now that's a difficult feat worthy of true praise and support.
We looked a retiring to Florida because it is a "low tax state" and the property taxes were so outrageous we quickly discarded the idea. My first wife was a very good accountant and she told me good accountants retire to Alabama. I don't know if that's changed over the years but it's something to investigate if you find yourself wanting to relocate.
Some here at FR think that the rest of the country somehow needs to protect them from living in a dem run state
Hope your flame suit is on
There are other places to live
California wasn’t always a high tax state
I’m in CA and stuck with high SALT.
This idea for reforming the tax code is freaking brilliant.
Effective subsidization of state and local taxes really, really, in my view skews the whole relationship between the states and the federal government.
Can’t understand why the real conservatives don’t understand this.
Just remember that we the opressed in Dem high tax states voted for #MAGA for relief. If we are taxed even higher...do not expect a good result!
Just cut to the chase and reduce taxes for ALL! They have created a Solomon split the baby situation... a false dichotomy to subterfuge tax reform and true tax cuts. This is the RINO aholes fast at work to block any and all change.
I think most do, but unfortunately they are quick to jettison their “principles” the moment they become personally inconvenient. That type of behavior is precisely why the country has been on such a long-term downward slide. Everyone talks a good game, but when the chips are down there’s little to no real commitment.
... and there it is. It depends on whose ox in being gored.
Oh, and in before Mariner.
How does a state that receives more from the government than their tax payers pay, subsidize a state whose tax payers pay more than their state receives?
This is an instructive article. These states that have this bogus deduction, are getting away with spending other peoples money.
ping
If they cut spending to any useful extent first, consumer spending, markets, jobs, then revenues will go down. They don’t want to start a vicious cycle.
So they want to cut taxes and take other measures to rev up the economy a little more, then cut spending. Then, they can safely raise interest rates. Otherwise, with the increasing pile of debt, bonds will get even more risky (also a way to start a vicious cycle).
Remember that the Fed raised the rate a few months ago, and the dollar started to fall instead of going up again. That was a warning sign that the previous paradigm was about to fail in a big way.
many of us are in our forever homes, and have lived many years in one house, but now, I can just forget about deducting the property tax because its a "states right" issue?...
so now I get to get taxed on a tax?....
and now we need to trust the govt not to hike the tax rates to increase revenue in a year or two?...
if they steal our deductions, they are never ever coming back....
The one thing you fail to mention about this passing the costs farce is those very same people from those states such as California, New York, New Jersey also shelter the largest tax burdens at THE FEDERAL level. So using your argument of “supplementing” which is liberal code word for it is the government’s money then these very same states are supplementing the rest of the country anyway by paying the majority of federal taxes.
The tax plan is simply garbage, period end of story
This is a good argument, but it’s still going to be painful to have to bear that burden.
That is a fallacy which has been debunked.
https://thefederalist.com/2017/11/17/red-states-tax-takers-blue-states-tax-makers/
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