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 ...
Apparently we are not the typical family of four.
I’m going by the first proposal where personal/dependent exemptions are eliminated and income over $90k falls into the 25% bracket.
Take 7 family members times the personal exemption of $4100 and add that back into taxable income.
On top of that - they are eliminating the college credits.
They may tweak the brackets still - so I am estimating of course.
Doubling the standard does not offset that large increase in taxable income.
According to the next post you made, apparently not. ;-)
The truth of THE GREAT CRASH, is that there had been GREAT CRASHES before then and the one we had in '08 was NEVER called that, but should have been.
Today's markets keep going up due to Trump's promises on the stump, the outrageous giveaways to HUGE corporations in both House's Bills and the present recovery going on with our economy.
Yes it is and it STINKS!
Why do you keep posting “options” when you mean COMMIDITY FUTURES; or are you now actually doing OPTIONS...which YOU aren’t actually the “trader” of?
That’s good to know.
DANG! It’s as though they want you in hock.
This is not about high tax States Vs low tax States.
It's about a cabal of bankers and oligarchs who are hell bent on cutting the corporate rate to 20%, no matter what the consequences.
If they were smart, they would just cut the corporate tax rate and be done with it.
In 2016, corporations paid about 300 billion in corporate taxes , individual tax payers paid 1.6 TRILLION in income tax and 1.1 TRILLION in FICA and Medicaid.
The Government made about 900 billion in excise taxes, total tax receipts about 3.3 trillion.
Anybody who doesn't understand that corporate taxes are the SMALLEST portion of Federal Tax Revenues doesn't really have the facts necessary to weigh in on what these degenerate scumbags are up to.
I am all in for a lower corporate tax rate, but RAISING TAXES on working families to make up the difference and flat out lying about it is game changing.
I trade options of my own. Im retired now. Why are uou such a moron?
I don't agree completely with that statement. Corporate taxes should be cut.
If they were smart, they would just cut the corporate tax rate and be done with it.
If they were smart, they'd make everyone and corporations pay 10% across the board.
I am all in for a lower corporate tax rate, but RAISING TAXES on working families to make up the difference and flat out lying about it is game changing.
I despise the idea of "paying" for tax cuts. As Rush says, if you have to pay for it, there is not cut.
Not really. Nobody makes you trade options.
Why can't you write the simple truth?
You have called Commodity trading "OPTIONS" throughout this entire thread, which makes YOU the moron!
No i haven’t. Listen close moron. I traded dirivitves when i was in the oil and gas business placing hedges on our natural long position. I got paid to do that job. I trade options (not commodities you moron) in my personal account now. And really in my personal account back then too. Why aren’t you smart enough to understand that? Because you’re the same moron who said every trade in the market is taxable like you clearly never even heard of a roth ira. Go yell at your wife a while. She’s probably afraid of you.
I had a ROTH before you ever heard of it!
You do NOT know what you're talking about and are blowing smoke!
You don't know how to write a cogent English sentence, which leads to you imagining that you said one thing, when, in point of fact, you said another!
And FYI...depending on the time period ( prior to the '90s, ) you did NOT have to have a margin account to trade options of any kind, as a person!
A "rollover"/reinvesting what you sold something for, is NOT the same as "selling" a stock, yet you've lumped the two together. And neither clarity nor civility are things that you have even a scintilla of a grasp of!
You're just a joke! LOL
So you own a roth and didn’t know that those earnings are not taxable. Your either full of it or a complete moron. Probably both.
Once you retire and use your ROTH account's money ( that's take it out to use ) you pay TAXES on that! Got it yet?
And when one reaches the age of 70 and 1/2, you are obligated, BY LAW, to start taking out money form 401K plans!
And IF, you buy & sell stocks, Options, Commodities, Futures, to live on...you pay Fed income taxes( capital gains! ) on that, unless you have big enough losses to offset them!
Do get your cretinous CPA nephew to explain that to you; oh delusional one!
Fact is you don’t pay tax on money you take out of a roth ira. You’re being stupid again.
A roth ira is funded with after tax dollars and its earnings are tax free. That’s the difference between a roth and a traditional ira. Go away and get a clue
Really you should just apologize for being a complete jerk while talking about things you know little about.
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