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 ...
You could deduct sales taxes in lieu. But none of it matters if you don’t have enough total deductions to merit a schedule A.
PA is a RED state. And proud of it.
I wonder if this will include property taxes too.
It’s not a death blow to states like New York.
It’s removing the indirect subsidy that the Federal Government gives to residents of states with higher state and local taxes.
If NY thinks high local taxes are a good idea, why do the people in the other 49 states subsidize their high taxes by making that tax money paid with pre-Federal tax dollars?
Maybe they should lower state and local taxes.
If your deductions are more than the reduction due to the changes you lose, if not you win. As a first cast.
Nothing mentioned regarding property tax that I’ve seen.
Sounds like a good solid plan.
Make it flipped on Fed also.
NO Taxpayer money for (elective) abortion, stadiums, illegals, sanctuary cities, start enforcing BACK TO WORK initiatives, the list goes on and on and on - for town, city, county, state & Federal....
Leave no tern unstoned.
OUTSTANDING!!!
According to leftist think, they need to be taxed more.
Andrew Cuomo was the death blow to NY.
He said that as if it was a bad thing.....
And when those Republican Congressmen proudly go back to their constituents and explain how they helped kill state and local income tax deductions and property tax deductions and individual exemptions which resulted in higher income tax bills for the good folk of RED Pennsylvania then how long to you imagine they will remain in Congress?
Should have been done years ago. Blue states will start flipping to red faster than you can say H&R Block.
Fairness is NOT about State “net”.
It’s all about individual treatment. Personal Liberty and all.
I didn’t vote for Toomey, despite having done so in the past. I even contributed to his 2016 campaign, before he turned his back on the GOP nominee.
We are gonna primary these fools. We’ve had it. Moore was just the beginning...
That is a distinction without a difference. You are aware that the taxes are paid by individuals, I would hope.
“The Blue states are net positive federal taxpayers, not net recipients of federal taxes.”
So? There is still no reason that they therefore get to deduct their high state taxes that they have chosen. Many are already getting a great mortgage deduction to live in an expensive house. The mortgage deduction on our double-wides is of no value.
“The Blue states are net positive federal taxpayers, not net recipients of federal taxes.”
So? There is still no reason that they therefore get to deduct their high state taxes that they have chosen. Many are already getting a great mortgage deduction to live in an expensive house. The mortgage deduction on our double-wides is of no value.
I live in NY - I would not mind a death blow to NY
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