Posted on 09/28/2017 7:45:47 PM PDT by artichokegrower
The cost of owning a house would increase for many Californians under President Trumps tax proposal.
Trumps long-anticipated overhaul lacks key details essential for meaningful evaluation, including how to pay for it and how the benefits would be distributed between the poor, middle-class and wealthy.
But its already clear that one provision disproportionately hurts high-tax states like California, New York and New Jersey that did not support Trump in the 2016 election:
(Excerpt) Read more at montereyherald.com ...
It sure will be nice to vote in the next presidential election in Florida. Possibly the next mid-term, even.
A "tax cut" that has to be paid for is not a tax cut, merely tax redistribution. Let's have a real tax cut, one that cuts the amount of money that the government takes in.
I have long believed him to be a genius.
... are exactly ZERO.
I agree; housing here in NJ is already in the crapper (”for sale” signs everywhere as Americans and their employers flee those high property taxes), and removing this deduction would make the last few desirable places to live here completely unaffordable. Even the “replacement Americans” that are buying homes here and moving in 30 relatives and rooming house tenants will find this unbearable - especially as they add a lot of school-age children to the already-costly school systems.
We try, here in NJ; Chris Christie brought some stabilization but people want everything for nothing. A big problem in NJ is that the public-worker caste is so large everybody has a relative working for the gubmint. This coming election looks like another Democrat who is openly admitting he’ll raise taxes in NJ is on track to win; we have a problem statewide that is normally seen in cities - too many people who contribute nothing or are paid by taxes voting in our elections. Romney’s “47%” is probably 60%+ in NJ; Christie was elected when even many of them couldn’t tolerate it anymore.
“In 1995 I quite literally abandoned everything to leave CA. If I can, you can. What price freedom?”
I left CA in 1979. Never looked back.
There's that phrase again, the liberals favorite anti-tax-cut meme!
Yep. The rich will now finally get the chance to pay their “fair” share.
BwaHaHaHaHa!
You apparently think that if government takes $20k from me at the point of a gun, but $22k from somebody with the exact same income in a different state...that somehow that person is subsidizing me.
Which is an odd perspective and it seems wholly unAmerican to me.
But coming from somebody who has probably never paid $20k in income taxes over their entire lives...I guess I’ll let it pass.
Son, why must you continually post about things you ether don’t know anything about or just flat out do not understand?
Californians vote in the folks who vote in their higher taxes. Now why should they get bigger federal tax deductions just because the choose to have higher state and local taxes. Those deductions are gifts from all the taxpayers who don’t get those deductions.
While I think a good argument can be made that low personal taxation states do subsidize states with higher personal taxes, I haven’t been trying to advance that agenda.
I did advocate for people to be able to deduct state taxes from their federal form. I also advocated the taxes paid on the federal form be deducted from state taxes.
I don’t consider taxes taken from my check before I even get paid, to be income to me. It is income directly to the government.
Each entity, state and federal government should ONLY be able to tax me on my total AFTER TAX (to the other entity) earnings.
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