i live in WNY and i say DO IT!!! it'll hurt, but not as much as it will the RAT gooobernor and his minions
Posted on 11/30/2017 2:32:05 PM PST by Oshkalaboomboom
As the GOP’s tax-cut bill advances through Congress, Republicans should completely scrap the federal deduction on state and local taxes (SALT).
While this reform is not yet enacted, it's already having a positive effect. Liberal Democrats are holstering their magic wands and focusing on the consequences of their lust for high taxes.
"We’ve got to hit the pause button right now," Democrat Steve Sweeney, president of New Jersey’s State Senate told Fox News Channel’s Neil Cavuto on Nov. 21. "After I had got elected, I had said, 'First thing on the agenda is the millionaires' tax. We gotta get it for school funding.' And then this happened, and it’s like, 'Wait a minute, I gotta take a step back and be more pragmatic and think about what’s best for the state of New Jersey.' You know, 1 percent of people in the state of New Jersey pay about 42 percent of its tax base. And you know, they can leave."
Sweeney seemed chastened, refreshingly cautious, and suddenly aware that hiking levies on those who already pay more than their fair share of taxes is a perfect way to "force people to look to another place" to live and work. And if paying 42 percent of income taxes is not beyond "fair" for the top 1 percent, then what is?
Tax-happy Democrats elsewhere seem similarly concerned.
"The repeal of SALT could force an uncomfortable tax discussion for high-tax states," Politico recently reported. "Should they consider lowering tax rates, to alleviate the additional tax burden that the elimination of the deductions creates? Or keep taxes as they are — and run the risk of losing wealthy residents who might move elsewhere to soften their tax burden?"
(Excerpt) Read more at newsmax.com ...
i live in WNY and i say DO IT!!! it'll hurt, but not as much as it will the RAT gooobernor and his minions
We live in NYS. Own a home.
We support ending the SALT deductions.
I am heartbroken.
Problem for the rats is what to do to make up that money. They will have to look at social services and in the end they will close prisons, hire more cops and taxes will be hire than before.
It’s the law of unintended consequences.
I’m tiring of arguing with glib, smartassed idiots.
I’m saving it for the “I told you so” phase.
It's really that simple. Republicans -- and by this I mean Republican voters, not elected officials -- are just as addicted to government spending as Democrats are.
The “I told you so” phase may arrive sooner rather than later.
whatever it takes to bring NY down...
The vast majority of those people are democrats, and wouldn’t vote for Trump anyway. Take away their SALT. You know it’s bad for their blood pressure.
I think it's what they meant by "tax simplification." All these deductions and write-offs are one reason the tax code is over 75,000 pages long. *Nobody* can digest 75,000 pages of bureaucratese. And it's an injustice that every American individual, small business, and corporation is forced to do so every year!
I'd prefer they scrap that whole damned tax code and institute of flat tax, no deductions, no write-offs, no nothing -- just 10% from everybody. The billions of dollars and man-hours saved each year in tax compliance would be a boon to the economy!
We'll see how far they go in reducing those 75,000 pages. Not holding by breath....
Especially since the bill let’s corporations KEEP these deductions.
I agree with you. If this was a simple Fair or Flat Tax reform I would support it.
It ain’t.
I hope you’re wrong, I fear your right.
Love your handle. I LEFT a one of the worst states, California (for Texas)...rather than stay there and bitch at the Republicans for not making the people of Nebraska pay for the our (i.e., California’s) TOTALLY CORRUPT government spending.
People, at least in the United States, have options other than blaming the Federal Government for their own LOCAL problems.
“This is deduction reform, NOT tax reform. Ronald Reagan is rolling in his grave.”
Reagan signed the bill that ended the deductibility of Credit Card interest - which hit a number of people, hard. Had there been more conservatives in Congress, I have NO DOUBT that he would have done the same for SALT.
And I’m also sick of carrying the water for the Uber-wealty, considering that they fund DEMOCRATS way more than Republicans.
Perhaps if they helped PAY for the policies they support, they’ll reconsider what they’re doing, maybe. If not, at least we won’t be giving them even MORE MONEY to try to bring down Trump.
Did you get dropped on your head at birth?
Most of the scumbags in States run by communists don't even PAY taxes.
This will hit the ones that actually DO pay taxes
The only thing that they will do in response is vote DEMOCRAT.
It's amazing that people with absolutely no grasp of the facts regarding the amount of revenue FEDGOV brings in every year, where it comes from, and how much FEDGOV spends, have no problem making STUPID comments and falling hook , line , and sinker for Goldman Sachs (Too big to fail banksters who are writing this bill) propaganda.
This nonsense of subsidizing high tax States is exactly that- NONSENSE.
The people writing this tax bill are lying Goldman Sachs oligarchs Banksters, the same scumbags that were “too big to fail” and got the taxpayers to bail them out back in 2008 that now want a huge tax cut for corporations and want the upper middle class to pay for it.
CUT SPENDING
DO NOT RAISE TAXES ON THE MIDDLE CLASS
This bill raises taxes on a family of four in ANY State, whether they have a State Income tax or not.
Banksters Mnuchin and Gary Cohn from Goldman Sachs are writing the tax bill.
This is an attempt at the biggest heist in history.
“Mnuchin is a member of the “Big Six”, a group of politicians convened to write a tax reform proposal that incorporated input from members of the House of Representatives, Senate, and White House. In addition to Mnuchin, the group consists of Senators Orrin Hatch (R-UT) and Mitch McConnell (R-KY); Representatives Kevin Brady (R-TX) and Paul Ryan (R-WI); and National Economic Council Director Gary Cohn”.
Do you trust these 2 creepy scumbags or believe a goddamned word they say?
I sure as hell don't
They need a trip to the Guillotine, not running around trying to steal cash from HARD WORKING MIDDLE CLASS TAXPAYERS!!!!!
Even an idiot can see from this bar chart that FEDGOV is out of control.
Yearly spending has doubled too, from 2 trillion to 4 trillion since 2001.
Rather than cut spending, the GOP wants to stick it to MIDDLE CLASS taxpayers THAT ACTUALLY PAY TAXES, give corporations a break (windfall that won't be passed down to employees), and pass it off as a TAX CUT
OUTRAGEOUS!!!!!
Bottom line is that it is DC and the oligarchy in an unholy alliance with the CPUSA against the MIDDLE CLASS SUCKERS who work and ACTUALLY PAY INCOME TAX, who are about to get their deductions wiped out to cover a shortfall of 250 billion max if the corporate rate is cut to 20%, against anticipated revenues of 3.5 TRILLION.
So the corporate tax rate can be cut with minimal effect on the deficit, so why are the GOLDMAN SACHS BANKSTERS so HELL BENT on wiping out deductions that have been in place since the UNCONSTITUTIONAL INCOME TAX was put in courtesy of women being given the vote?
Because they can now raise rates in perpetuity and there's no way to mitigate the hit, deductions are GONE.
This is GRUBER and OBAMACARE all over again.
This is not about high tax States Vs low tax States.
It's about a cabal of bankers and oligarchs like Mnuchin and Cohn (GOLDMANN SACHS TOO BIG TO FAIL BANKSTERS WHO ARE WRITING THIS BILL) 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 3.5 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.
Oh Please. This is NOT a tax increase on the middle class. The additional $650 child tax credit is equivalent to a $5400 dollar exemption.
The real change is in the tax brackets, fewer, and much larger, so more of your taxable income is taxed at 12%.
Take the time to read through the small business changes. If I ran a small business I would be cheering the changes.
And the estate tax is finally on its death bed. Farmers, small businesses will finally be able to pass on their property to the next generation without enriching some lawyer.
I agree fully with cutting spending, but you need tell the truth about who will be paying more in taxes to make your message credible.
” My wife is from Nevada originally, and we’ve thought seriously about changing our state of residence through the purchase of a home there.”
I mentioned earlier that I left California for just that reason. What really drove me to leave, and it was quite a while ago, was that California literally had an office in Nevada dedicated to tracking down retirees NOW LIVING IN NEVADA and making them pay CALIFORNIA income tax on their (tax-deferred) pensions. I think that was later ruled unconstitutional, but I wasn’t going to wait around to find out. That was it for me. Now I can use all the money that I saved by not paying California taxes for my retirement...and also not have that retirement taxed by California.
You completely gloss over the MINUSCULE tax cuts for people who take the standard deduction, and the TAX INCREASE ON TAXPAYERS.
I fully support the corporate tax reduction to 20%.
It will cost the scumbags in DC about 250 billion in corporate tax receipts.
Out of a 3.5 TRILLION revenue stream.
There is an ulterior motive here, and it makes the SKULDUGGERY of GRUBER and the DEMOCOMUNISTS pale in comparison.
Business on parade , buy or die.
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