Schumer, Senate Democrats will force vote to repeal IRS ruling on SALT cap

Fox Business ^ | 10/10/19 | Brittany De Lea

[Tolerance Sucks Rocks]

Liberals will also move to red states in larger numbers, due to the hard SALT cap now in place, and then vote bleu.

[faithhopecharity]

Congress with no public discussion or input also deleted all employee business expenses. Without any cause. This hurts a good number of people in all states not just the four under discussion.

[11th_VA]

It really does suck. They cap state tax deduction, and if it reduces your deductions to where you can’t itemize, you catch it on the state taxes as well - since they don’t allow you to itemize on the State return unless you itemize on the fed return as well.

[PeterPrinciple]

It really does suck. They cap state tax deduction, and if it reduces your deductions to where you can’t itemize, you catch it on the state taxes as well - since they don’t allow you to itemize on the State return unless you itemize on the fed return as well.

---

All this crap is ONE NOTE CHARLIE, Are conservatives now just like liberals, looking at just the one thing instead of the overall package?

THE OVERALL PACKAGE WAS GOOD. YOU GAINED MORE THAN WHAT YOU LOST BUT ALL YOU SEE IS THE ONE THING YOU LOST.

[Galatians328]

Liberals will also move to red states in larger numbers, due to the hard SALT cap now in place, and then vote bleu.

They can try, but there are more rich conservatives than rich liberals. And even rich liberals are special snowflakes who care about things like good schools and diversity. They will move to blue enclaves so they can't change the voting patterns overall.

Anything that improves the per capita gdp of conservative states is a good thing. Not to mention overturning the constant blue state refrain of how their economies are so much better than red states.

[11th_VA]

I personally did not gain (financially); I appreciate the fact I no longer have to itemize on the federal return - saves a lot of work. The solution is, in my case, for states to allow itemized deductions, even if you don’t (can’t) itemize on the federal return.

[11th_VA]

BTW, here’s the details:

- Would have had just over 24K in itemized federal deductions

- but cap on SALT reduced deductions by 10K

- Standard deduction took care of that for Fed taxes

- But state will not now allow me the 24K in deductions

[acapesket]

You try picking up your family and moving from your beloved home and leaving everything you know.
After you do, get back to us regarding everyone’s willingness/happiness.

[Jim from C-Town]

Last year I got whacked by that tax! I had some good increases in income & bought TWO cars with 8% sales tax that all together far exceeded the cap & NOW they want to repeal the F@CKING thing!

[Flaming Conservative]

Why is it that when the democrats are the minority, they get to force issues, but minority republicans cannot?

[MacMattico]

I’m in NY and I agree with you. The SALT tax deduction should remain where it is or be eliminated. People need to understand it’s the state governments fault we are overtaxed and hold them accountable. NYS shouldn’t benefit from high taxes by saying you’ll get it back from the Feds. Red states seem to realize this. Andy Cuomo had a fit over the lowering of the deduction which tells you what you need to know.

[SaxxonWoods]

So, after cussing Trump for cutting taxes and lying that all his cuts went to the rich”, they want to cut rich people’s taxes more.

This is too funny if you think about it.

[Crazieman]

Maybe you should LEAVE rather than feed the beast like a good little cuck.

[House Atreides]

“...you catch it on the state taxes as well - since they don’t allow you to itemize on the State return unless you itemize on the fed return as well.”
***************************************************
That’s an INTENTIONAL “FEATURE” loved by tax revenue hungry state-level DemocRATS. In Maryland, the Republican Governor Larry Hogan wanted to change Maryland tax law so you could itemize on Maryland State taxes even if you don’t itemize on your federal taxes. The Maryland DemocRATS, who COMPLETELY control the state legislature snuffed that out quickly before it could become law.

So talk to your state DemocRAT overlords if you want that changed.

[House Atreides]

“...you catch it on the state taxes as well - since they don’t allow you to itemize on the State return unless you itemize on the fed return as well.”
***************************************************
That’s an INTENTIONAL “FEATURE” loved by tax revenue hungry state-level DemocRATS. In Maryland, the Republican Governor Larry Hogan wanted to change Maryland tax law so you could itemize on Maryland State taxes even if you don’t itemize on your federal taxes. The Maryland DemocRATS, who COMPLETELY control the state legislature snuffed that out quickly before it could become law.

So talk to your state DemocRAT overlords if you want that changed.

[SkyPilot]

THE OVERALL PACKAGE WAS GOOD.

Almost all of the tax cuts went to corporations. Their rate was slashed from 35% to 21%. Much of that savings simply went into massive stock buy backs, which benefited the very few.

I have no problem with anyone paying less taxes. But what Congress did (and President Trump signed) was a bill authored by the Goldman Sachs Twins (Steve Mnuchin and Gary Cohn) that gave huge tax breaks to Google, Facebook, Twitter, and Apple - then passed on the "bill" to millions of people and families in the middle class and upper middle class.

Paul Ryan worked hand in glove with the Goldman Twins to ensure that Rep. Kevin Brady did what he wanted, and Brady was in the pocket of the Billion Dollar Lobbyists, including Bill Koetzle at Chevron, Brian Sutter of Capitol Hill Consulting Group, Emily Porter at the Nickles Group, Shane Lieberman at UBS, Jim Brandell of Dykema, Andrew McKechnie of Peck Madigan Jones and Dan Elling of Alston & Bird. All of those whores were Brady's fundraising arm. And all they cared about was taking care of their corporation clients when it came to taxes.

Even the small tax cuts that those in the middle class got will expire in just a few short years. The corporate cuts? Permanent. But guess what else?

The tax bill made illegal or capped long-standing and popular deductions. The SALT provision went back to before the Civil War as Federal policy. It was considered "immoral" to force people to pay Federal taxes upon taxes they already paid to the state. What a concept!

http://www.taxhistory.org/thp/readings.nsf/ArtWeb/663D98E8EB142B3B852581C6005A9982?OpenDocument

"It’s worth pausing to consider the origins of the SALT deduction. The provision has been a feature of federal income taxation since 1862, but its roots run even deeper in U.S. history. Since the early years of American nationhood, political leaders have been arguing about the need to protect state revenue sources from federal encroachment — as well as the dangers of double taxation to individual taxpayers."

Moreover, event though the Standard Deduction was increased, the Fedzilla eliminated the Personal Exemption. Why? Because just like the slight of hand to cap or make illegal popular deductions, the Feds needed our money to "pay for" those massive corporate tax cuts.

Finally, the Tax Cut and Jobs Bill cost us Congressional seats. A lot of them. People who argue otherwise don't have a clue.

SALT Cap Comes Back to Haunt GOP With Key Tax Writers Losing Their Seats

[SkyPilot]

That’s exactly what it is - a GOP-sponsored tax increase. It’s ironic that Schumer opposes it - and that many “conservative” “low tax” posters on freerepublic, support it

It is. Most people on this site were swayed by the GOP Focus Group rhetoric that people in other states were "subsidizing" them. The claim is laughable. Taxpayers in CA, MA, NY, IL, CT, NJ, MD, and other states contribute far more in taxes, and receive less Federal dollars back in spending, than people living is AL, MS, MT, AR, TN, ID, SC, and other states.

Too many Freepers were fed by the rhetoric, and whipped up to hate fellow Americans who didn't happen to live in the state they lived in.

As if there are no Republicans, veterans, Christians, or patriots in other states.

Trump promised that "tax cuts will go to the middle class, where they are deserved."

He also promised not to raise taxes on the middle class.

The Tax Cuts and Jobs Act violated that promise to millions of people who voted for him.

[SkyPilot]

If you are a conservative living in a blue state with high taxes you should just pull up those bootstraps and move to a low tax jurisdiction where entrepreneurship is rewarded.

You don't even see the problem with your argument.

The power to tax is the power to destroy.

Eliminating deductions and exemptions is simply raising taxes by another name.

And millions of people had their taxes raised by Paul Ryan, Steve Mnuchin, and President Trump.

It isn't "pulling yourself up by your bootstraps." I have lived in over half a dozen states in my lifetime (including the South, West, and Midwest), and lived in Europe for several years.

People who have homes they built, businesses they run, children nearby who have put down roots, or aged parents to care for should be trampled upon and run out of town because of the destructive tax policies of Republicans who we voted for and supported.

Period.

[billyboy15]

Since we know the avg middle clas family received about $1400 in savings, I am not buying into your claim of tax reform costing Rep seats in 2018, not even one seat.

What’s more there is no evedence of worth to back youu up.

[SkyPilot]

The third rule of taxes is, “The only fair tax is the tax that taxes you and not me.” It’s why elections are so important, to charge the other guy what you think is his fair share.

True. And politics is a blood sport these days of divide and conquer the masses.

But politically, it was incredibly short-sighted and stupid for President Trump to agree raise taxes on millions of middle class and upper middle class families in our highest population states.

We lost many House seats because of the Tax Bill.

I predicted this two years ago, and said so here on Free Republic.

The GOP will probably lose the House in 2018. The campaign commercials about Republicans raising taxes on many families so that corporations could get massive tax cuts will write themselves. And the democrats don't even need to lie this time.

December 2, 2017

That bill raised taxes for millions of Americans, including those in high tax states like CT, NY, NJ, CA, and others.

People are now forced to pay taxes to the Feds upon taxes they already pay. Yes, the tax cut to corporations helped the economy, but not everyone in the middle class got a tax cut because their deductions were capped or destroyed. The Feds "needed the money."

By cutting focusing almost all of the tax cuts on corporations, the Ways and Means Committee had to look for loose change in the tax sofa. They found it by attacking almost every deduction and exemption they could find.

It violated the President's pledge as a candidate:

"We will massively cut taxes for the middle class, the forgotten people, the forgotten men and women of this country, who built our country....Tax relief will be concentrated on the working and middle class taxpayer. They will receive the biggest benefit and it won't even be close." Candidate Trump, Oct 2016

The television ads during the midterms last year were devastating. Some people on FR liked telling other residents of states they don't like to p___ off, and that none of this mattered.

Well, it did matter. We lost some House seats directly because of this issue. People are not stupid.

These are photos of people lining up last December (right during the holidays) to pre-pay taxes so as to be less screwed by the Feds come April.

Virginia

Colorado

New York

Maryland

New Jersey

Georgia

All those people in line were doing was trying to avoid getting even more raped by the IRS than they already were.

Trump was very eager to get anything passed in Congress at the time. The repeal of ObamaCare failed, and so did much of his other desired legislation and budget priorities. So he took the deal.

There is evidence that the President has regretted that decision.

Trump Says He’s ‘Open’ to Changing SALT Cap; Grassley Disagrees