Posted on 02/12/2019 3:34:03 PM PST by tcrlaf
President Trump listened to New York Gov. Andrew Cuomo complain Tuesday about a provision in the GOP tax overhaul that’s walloping higher earners in the Empire State, the White House said, but the president feels the Democratic governor should consider slashing state taxes as a path to relief.
Blue states like Mr. Cuomo’s still aren’t happy with a $10,000 limit — known as the SALT cap — the Republican tax bill imposed on the amount of state and local taxes filers can deduct from their federal tax bill.
The federal deduction tends to be more relevant to higher-tax states like New York and New Jersey, where upper-income earners are more likely to take advantage of writing the taxes off on their federal returns.
Mr. Trump heard the governor out in a private meeting at the White House, though said GOP reforms are a net benefit to the U.S. economy while places like New York need to change course.
“The president reiterated the negative impact that high taxes in states like New York have on hardworking families and job creators,” said Deputy White House Press Secretary Judd Deere
(Excerpt) Read more at washingtontimes.com ...
If you think federal taxes are too high, cut your state’s taxes, Governor, says the President.
Now what taxpayer is going to find fault in that simple bit of logic?
It’s refreshing to have a real leader in the White House. And a smart one, too. I get such a kick out of Trump. Imagine what we could do as a nation with 300 congresscritters who could think just like him instead of spending their days whining inbetween checking their tweet status.
His "courage" earned him the "Profiles In Courage" Award from those paragons of courage,the Kennedys,and set in motion a chain of events that made the state one of the highest taxed in the country.
And now residents of the state's "Gold Coast",home to some of the wealthiest residential suburbs on earth,are fleeing to the Carolinas,Georgia and Florida.
let’s switch to NY state tax issue instead of new abortion law. Where is the church in excommunicating the governor?
These folks are for higher taxes on the rich until they discover THEY are the rich.
Half of the planet lives on less than $3 per day. And that half all would love to move to America. And the Democrats are openly declaring that it is the God-given right of everyone to move to America and become citizens.
Imagine if tens of millions of foreigners, without the slightest notion of how our Republic works and why it had been so successful, move here and start voting. It’s already happening. The Democrats and RINOs have already stolen our Republic and given our nation’s wealth away while pocketing hefty sums for themselves. It’s happening just like Venezuela, but it just hasn’t reached its apex of destruction.
President Trump is stemming the tide, and I truly hope and pray he is right about our nation never becoming socialist. There are clearly millions of ignorant people who are more than willing to sell our inheritance for a bowl of pottage.
Hey, “Don Cuomo”, remember what happened to Lot’s wife - SALT, BABY, SALT!
“Wealthy New Yorkers now have to pay their fair share of the FULL COSTS of Democrat/Liberal tax insanity, and they are fleeing the state instead, now that low-tax flyover states are no longer subsidizing via SALT.”
THIS. Basically, Until now, living and paying taxes in a low cost state in order to subsidize people who live and work in states that would be financially impossible to move to. The previous tax structure severely impedes labor mobility, which any economist would say was one if America’s greatest assets.
Why stop at a 10k deduction? Lower the rates further and cut the deduction to zero. Then I’d like to hear Cuomo explain how that would be unfair.
I knew people paying 9k in property taxes for a 3br 2ba on a slab in suburban Chicago. And that was 15 years ago. Basically, you never own your home, you pay to rent it from the government.
Trump to Cuomo: “Think of your state taxes like a full term fetus...”
The Catholic clergy and hierarchy has been permeated with decadent, molesting homosexuals who have destroyed the moral credibility of the Church. Dolan should of course excommunicate the vile and evil Cuomo. However Dolan knows that if he does, Cuomo will release enough crap that would wipe them out. Wish he would. Faithful Catholics realize a cleansing fire is needed and only then can the Church be rebuilt by a faithful remnant.
Andrew Cuomo of the Andrew Mengele Cuomo murderer of infants fame? The one who Satan is waiting to welcome into hell?
Here in NJ we pay 75% of our high property taxes into the public school industry; we rent our homes from the teachers’ unions.
The American Church in the US is done; they are just riding the wreck into the ground, cashing out as it falls.
The safest place for a pro-infanticide Democrat to win is where the highest concentrations of “Catholic” vote; you can see it on any map.
Thanks, GraceG!
Not just the wealthy. My neck of the Upstate NY woods has $200,000+ homes with five figure tax bills.
That said, responsible states’ taxpayers should not be subsidizing our fiscal insanity.
Maybe his brother Fredo can help him figure it out...
Oh...ah, nevermind....
Supply Side. The gift that keeps on giving.
Tired of subsidizing high tax states like Calif, N.J. and N.Y.
Nearly the same amount of residents as Florida and 3 times more taxes with NO income tax.
What the hell is N.Y. doing with all the money?
Oh yeah, graft, corruption and them unions.
You know what though, this is actually crap. If someone in NY is *THAT* wealthy, they are getting their itemized deductions phased out or reduced to zero anyway.
What it is, is the overall tax burden. The sales tax in NY is close to 8.5% depending on where you live. They have a personal income tax. NYC has a personal income tax. Property taxes are high to support all the liberal BS that the pols have voted in. The cost of commuting is very high in time and money.
This is why people are leaving. It’s not only because of the Federal tax deductions being capped. And that’s the fact. They’re capped. Not eliminated. These people should still be able to itemize their deductions.
Mortgage Interest
Real Estate Taxes (10k)
Charity
Medical if they can
The AMT has been eliminated and the tax rates lowered. The Federal tax law is not why they are leaving NY.
[[[And Trump told him to consider fracking. Fracking would be a huge help to the southern tier of western NY, and would of course result in large revenues to the state, as well as increases in income tax and sales tax revenues from all the economic activity and hiring that would go along with it. But Andy is too stupid to figure it out.]]]
Banning fracking was the final nail in the coffin for upstate NY. To liberals its all about ideology, nothing else. They studied it for years and found no negative affects that couldn’t be mitigated and he banned it anyway.
The ripple affects of this decision are a great part of the depopulating of upstate NY.
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