Tough luck if taxpayers in high state/local tax states live too high on the hog. The rest of us should not subsidize their profligacy.
[Tough luck if taxpayers in high state/local tax states live too high on the hog.]
Many conservative, hard-working citizens eek out a living in those states.
Agree!
“The rest of us should not subsidize their profligacy.”
Texas is #3 in benefiting from these deductions, on a net basis.
South Carolina is the #1 beneficiary per capita.
Additionally, BOTH of those states receive more in Federal Spending than they pay in Federal Taxes. For South Carolina it’s 14 x. For Texas...near 1.5 x.
CA gets .78 for every dollar sent to DC.
Just who subsidizes whom?
A lot of data can make you smart. Just a little data can make you dumb.
Boy, I didn’n know I was living “High on the Hog”, living in NH and working in Mass.
I guess there goes my 4K deduction of state income taxes to Mass off my federal Income taxes.
Guess I’ll have to give up my yacht.
Having been assigned to New Jersey a couple times with the US Army, I have a feel for the cost of living in that area. At the time I was there, a hundred fifty thousand to $200,000 house in New Jersey was costing half that in Ohio suburbs. It wasn’t really a significant house. At the same time, salaries structures were much higher.
IOW, due to higher costs and salaries, the middle middle class appeared to be more affluent than their midwest peers.
They weren’t living beyond their means. They were just dealing with the cards they were dealt.
This salt tax thing really needs to take cost of living in different parts of the country into account.