Wrong, wrong and wrong - which makes the last one a flat out LIE.
Posted on 11/20/2017 4:42:05 PM PST by SkyPilot
The percentage of federal individual income tax filers claiming a deduction for state and local taxes paid in 2015, ranked by state:
1. Maryland: 45.7 percent
2. Connecticut: 41.3 percent
3. New Jersey: 41.2 percent
4. Virginia: 37.3 percent
5. Massachusetts: 36.9 percent
6. Oregon: 36.0 percent
7. Utah: 35.3 percent
8. Minnesota: 34.7 percent
9. New York: 34.5 percent
10. California: 34.4 percent
11. Georgia: 32.8 percent
12. Rhode Island: 32.8 percent
13. Colorado: 32.5 percent
14. Delaware: 31.6 percent
15. Illinois: 31.3 percent
16. Wisconsin: 31.0 percent
17. New Hampshire: 30.9 percent
18. Washington: 29.9 percent
19. Iowa: 29.5 percent
20. Hawaii: 29.1 percent
21. North Carolina: 29.0 percent
22. Pennsylvania: 28.6 percent
23. Arizona: 28.4 percent
24. Montana: 28.2 percent
25. Idaho: 28.0 percent
26. Maine: 27.6 percent
27. Nebraska: 27.6 percent
28. South Carolina: 27.3 percent
29. Vermont: 27.3 percent
30. Michigan: 26.5 percent
31. Missouri: 26.1 percent
32. Ohio: 26.1 percent
33. Kentucky: 26.0 percent
34. Alabama: 25.8 percent
35. Kansas: 25.5 percent
36. Nevada: 24.6 percent
37. Oklahoma: 24.0 percent
38. Mississippi: 23.3 percent
39. Louisiana: 23.0 percent
40. Texas: 22.8 percent
41. Indiana: 22.8 percent
42. Florida: 22.5 percent
43. New Mexico: 22.5 percent
44. Arkansas: 22.3 percent
45. Wyoming: 21.6 percent
46. Alaska: 21.4 percent
47. Tennessee: 19.3 percent
48. North Dakota: 18.5 percent
49. West Virginia: 17.0 percent
50. South Dakota: 16.9 percent
District of Columbia: 39.8 percent
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(Excerpt) Read more at abcnews.go.com ...
You get it; too bad so many here don't.
Please don’t think I feel good about that. I really wanted to support this. There are some good things in it. Congress should go back to the drawing board.
He'd be living up to his word if he gets away with it: the problem is the debt he's talking about is going to be yours and mine !
You poor widdle thing...your mental disorders need to be seen to.
But the WORST part of this, is that Trump will probably sign it, no matter HOW horrid it is. And THAT will haunt him...later on.
The state and local tax deduction has become a major stumbling block for comprehensive federal tax reform that would boost economic growth. Congress should eliminate this outdated, unfair, and destructive give-away to bloated state and local governments. The state and local tax deduction subsidizes high-tax and high-debt states with most of the benefits accruing to wealthy taxpayers. It thereby encourages states and localities to raise taxes higher than they otherwise would. It also encourages growth in government through public-sector provision of what should be private services, because the deduction allows states to alleviate their own residents’ state and local tax burden by hoisting it upon federal taxpayers.
https://www.youtube.com/watch?v=krtiY5Fa-3A
You are the one crying and making up stories, not me, you ignorant little moron.
Voters can forgive a whole LOT of things...getting money taken away from them isn't one of them.
Trump WILL be blamed for the mess that Congress finally passes, IF/WHEN he signs it.
The ONLY "ignorant moron" is YOU!
I have posted what is known that IS in both Bills and how, should it get passed and signed into law, the consequences of that.
And just as it took a long, long time, after ObamaCare was passed, to find out what was in it, so shall this mess take a long time.
You and others of your ilk, do NOT understand how Fed Taxes work, imagine that one state's populace's Fed Taxes/deductions are relevant to what others pay/deduct are wrong.
OTOH...what one state's populace pays into the Fed Gov DOES get sent off to other states, whose populace doesn't pay even as much as they get back from the Fed Gov!
One person's deductions has NO bearing on what YOU pay!
And it's criminal that EVERYONE doesn't have to pay something; let alone get undeserving money back! That's what YOU should be complaining about!
Also, it's simple math and common sense, that when SOME people ( and there'll be a LOT of them ! ), get more disposable money taken away from them, they'll have less to spend and less to invest. So no, the economy AND markets fall!
Also...re the "happy talk" about how people will "earn more" because of this Tax INCREASE, is not only a lie, but leaves out the hard, cold fact, that earning even a little bit ( if they shall, which is a GIGANTIC IF ), which will put people into higher brackets, so they'll PAY MORE TAXES, with LESS deductions!
Doesn’t define if the taxes are income, property or sales.
I use the IRS table for General Sales Tax to take a small deduction on my 1040.
My local property taxes aren’t enough to allow me to itemize.
Do those State rankings include the filers who use only the General Sales Tax deduction? If they do, then they are BOGUS!
and once again, you have proven my point by posting defamatory LIES and NONSENSE!
Do you just demand to have the last word, or are you really this stupid, immature, and bereft of the ability to read without ANY comprehension?
You are a disgusting piece of ignorant COMMUNIST trash!
...more in this thread would have the feds further dictate a theft of my money by punishing states through the elimination of state deductions.
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The States are not being dictated to regarding their taxation policies and are not being punished; the States still get their imposed taxes.
The proposed Federal tax policies only eliminate a deduction of those taxes from Federal taxes; thus, not continuing the practice of high SALT States being subsidized by the other States’ tax payers.
Folks in high SALT States should be working toward getting their States to lower their taxes, instead of complaining that the majority of States will no longer foot the bill.
Your projection complex is in the terminal stage.
Why is this so difficult for you and others here to grasp/understand?
Those in states, who send the most to the Fed Gov, ARE subsidizing other states, who get back far more TAX money, than they send in.
Yeah, yeah... ever try to get a state lower taxes? LOL
How about getting the Fed Gov/Congress to stop spending so much money on things like idiotic studies like shrimp walking on a miniature tread mill, cut the size of Government, cut duplicate or triplicate departments, etc.?
The problem isn’t with state taxes. The problem is with federal taxes which are far greater than state. Any federal government having to provide a state deduction in order to provide federal money back to the tax payer is a government that is far too large at the federal level.
I don’t see this deduction as states footing the bill as you call it. How is a theft of my money at the federal level then washed back to the individual through a deduction dependent upon the state you live in considered footing the bill? Considering the individuals who occupy these states also pay more at the federal level than do a large majority of the lower SALT states?
How about the federal government learn to operate with a far less tax burden instead of blaming states that set their own tax rates? I’d much rather have the burden of high taxes at the state level where it can far more easily be controlled by the population that elects its state government than at the federal level where again is where the spending and tax problem predominantly lies
What makes you think increasing taxes is going to make the market go up another 25%?
Precisely the opposite!
The answer is to cut taxes at all levels, but especially at the top bracket, where high taxes inhibit investment and risk taking.
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