Posted on 09/27/2017 12:14:22 PM PDT by C19fan
President Trump will release a sweeping plan Wednesday to cut taxes and simplify the tax code that will eliminate the deduction for state and local taxes — a move that Gov. Andrew Cuomo has warned would be a “death blow” for New York.
(Excerpt) Read more at nypost.com ...
It is high time to eliminate the deduction for state taxes. If Californians want parks at every corner, free aid to illegal aliens, free health care for all, that’s just great. Power to them.
They just cannot forgo their rightful US taxes because they have elected to spend high taxes in their state. Those of us in poor flyover country states struggle to keep our schools open, but tax ourselves less and don’t benefit by a big deduction for state taxes. That’s fine. Just don’t have us pick up California’s tab.
It is high time to eliminate the deduction for state taxes. If Californians want parks at every corner, free aid to illegal aliens, free health care for all, that’s just great. Power to them.
They just cannot forgo their rightful US taxes because they have elected to spend high taxes in their state. Those of us in poor flyover country states struggle to keep our schools open, but tax ourselves less and don’t benefit by a big deduction for state taxes. That’s fine. Just don’t have us pick up California’s tab.
So before you were able to deduct the taxes you paid to state and local governments and now you can’t? Is that what this is about? It seems you’d lose some deductions and pay more tax on your income.
..and California.
I don’t want to subsidize the local taxes for those on the coasts.
I hope fellow freeper’s from those states understand that position. Nothing against you guys.
I would hope this also means not having to pay taxes on state tax refunds.
California too. When I lived there that was the argument when they wanted to raise taxes on the “rich”, that it was deductible on FIT.
In what way does this impact high tax states? Sure, it will reduce the deduction on federal returns for those who live in these states, but aren’t we also talking about lowering federal tax rates? Without the numbers, it’s hard to judge any proposal. But never let any made-up crisis go to waste in a DEM-controlled state.
Taxing taxes is not so hot.
Blue states like New York, Illinois, California, Pennsylvania, and Ohio contain enough Republican congressmen to make sure this never gets out of the House
Yup until the specifics are out there you won’t know if you benefit or pay more.
We need the bill. Let’s see what it actually says. Lets dont speak conclusions about the bill until the bill is properly heard in public committee hearings. Dont just come out and conclude “good” bill. We decide for ourselves what a “good bill is after thourough vetting and amending. We dont decide “good” bill based on others groundless conclusions based on nothingness. What is the exact wording?
BWAHAHAHA !! Stick it to blue !
Of course, it will never through the republican congress.
True. In Michigan we have a benefit from IRS for paying state taxes. Guess it is a deduction. Sure helps. Doubling the standard deduction would help, too, though. Tough on a fixed income.
Making the system more fair would be good. There are not too many of us that actually PAY taxes anymore.
a move that Gov. Andrew Cuomo has warned would be a “death blow” for New York.
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Go for it.
The communist states need some reality.
Add in the decrease of 4% of the top tax-rate and everyone should see some benefit from this tax plan.
It adds to the pain of high state income taxes by making them no longer deductible, which will accelerate the exodus from high income tax states (which happen to be mostly Democrat) to low tax states (which happen to be mostly Republican).
The Blue states are net positive federal taxpayers, not net recipients of federal taxes.
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