Pain is a fine teacher.
L
I’m starting to get teary eyed . . no . . wait . I’m okay. I’m going to be alright.
Florida kid with a vacation home - it’ll whack me for about $500-1000. Yea, whatever. It’s worth it!
How many of those 10.8 million tax payers will have a lower tax because of the lower rates and higher standard deduction?
A little history.
At one time all personal interest expense was an itemized deduction.
Then it was limited to just interest for your house. rational for this was too much inflation from personal borrowing. The result of this was everyone shifted debt to house loans which may have been what the bankers lobbied for to compete with credit cards. So now everyone is leveraged on their house debt.
One effect of this new rule is that people will focus on paying down their house debt as it is not as deductible. In general, that is a good thing.
Gee, that’s rough.
I think everyone should have to write a check for all the taxes they’re paying each year, so they can WATCH the money being taken away.
Right now it’s hidden. They never see that money, so they can’t miss it.
Haven’t heard nuch fron Freepers affected by this.
Would like to hear more from them.
As we said, ping.
It’s affecting the “rich”. If you are paying more than $10K a year in property tax, you MUST be rich!
Oh...wait...this is Jersey!
More blue staters will head south. Speed up the already changing dynamics. Red states will be finished off in time.
Actually, they are feeling the FULL pain of their state and local taxes. PRESIDENT Trump, through his SALT legislation, is “encouraging “ high earners to leave the high tax (DhimmicRAT) states, which will accelerate their fiscal decline. And, Libtards being Libtards, these states will just raise their taxes higher, thus compounding the problem: high earners leaving high tax states.
And they call him dumb. BWA-HAHAHA!!! Enjoy your state-wide poverty Libtards!
That’s one-third of one percent of the population, and they aren’t the poor ones.
SALT cap? What does the Strategic Arms Limitation Talks have anything to do with any pain and any tax?
The bad thing from this is it will chill home sales which will trickle down to companies selling construction supplies.
When I crossed over into the evil 1% I lost nearly all of my deductions I enjoyed when I was just an average, non-evil whatever percenter. Happy to see the wealth of others being spread around.
Good!
I’m tired of subsidizing millionaires in New York and California.
.
Trying to have feelings.
Just like the feelings I had when I was told by my givernment to purchase insurance I didn’t want, that covered Jack Shiite, and had a $5,000 deductible, making it useless.
In fact, I spent a few thousand on medical care, on top of my “catastrophic insurance “ which I shouldn’t have had to pay for lest I be fined....
Eff em...
PING.