Posted on 09/19/2024 12:04:56 PM PDT by mooncoin
“I will turn it around, get SALT back, lower your Taxes, and so much more,” Trump wrote Tuesday on Truth Social, his social media platform. “I’ll work with the Democrat Governor and Mayor, and make sure the funding is there to bring New York back to levels [it] hasn’t seen for 50 years.”
The SALT proposal is unlikely to dramatically change presidential votes in the largely Democratic states most affected by the $10,000 deduction cap, but it could be a factor in critical congressional races in places such as Orange County and Long Island that will determine which party controls the House of Representatives.
(Excerpt) Read more at latimes.com ...
This is all about fairness...If you worked and put your money in your homestead in NEW York...you could only deduct part of the taxes you paid because of the cap...and that just wasn’t right.
Trump is going too far in playing Santa Claus with some of his recent proposals. This is a bad idea. Unless his plan is to simply borrow more, at some point taxes will have to go up to pay for this and those taxes will impact all states rather than the Blue States that benefit from the deduction. And I say this as someone who is hurt by the cap on the deduction.
All tax provisions must originate in the House.
Trump and Harris talk a lot about what they are going to do. But neither of them can DO anything.
That blue states send more taxes than they get back while red are the reverse is a little like the females make 80 cents on the dollar that males make argument, I would like to see all the details, population versus federal presence, military bases kind of stuff.
State taxes should purely and 100% be within the state, the people can vote or not vote for them and then pay 100% of what they voted for, keep the collective people of the United States out of subsidizing them.
Put on your thinking cap. Texas could levy a 100% state income tax on all residents. All of it would be deductible from federal income tax.
One way to starve the beast and keep tax spending local.
EC
I see your point. But there’s a larger issue here. With SALT, states that have income tax are in essence appropriating taxes that would have otherwise gone to the federal government and using them for their own purposes. That’s not in itself a bad thing. But the question then arises, shouldn’t that amount be deducted from the federal tax revenue that’s sent back to that state? In other words, if a state thinks they can spend some of the tax revenue they send to the federal government more effectively, then shouldn’t that amount be deducted from how much the feds send back to them?
In reality it’s more complicated than that, and it would be a difficult task to figure out how to implement such a policy.
Military bases and spending is another one. It’s a federal issue but because of location becomes a “red state taker” issue.
I’m sure we have proving grounds all over New England.(sarcasm)
Federal lands are another issue. Many red states have large segments of their land under federal control.
Location of financial centers connected to Asian and European trade is another. These hubs produce a lot of income opportunities.
“ That blue states send more taxes than they get back while red are the reverse is a little like the females make 80 cents on the dollar that males make argument, I would like to see all the details, population versus federal presence, military bases kind of stuff.”
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The “blue states send more money in taxes than red states” is true but much of the income disparity is due to (at least on the east coast) those blue states sucking a tremendous amount of wealth from the red states. I live in one of those blue states (Maryland). You can’t throw a pebble 100 feet without hitting someone who draws their income from (highly paid) federal civil service employment of employment by federal contractors. Many (I’d say most) of these employees are overpaid and vastly underworked. Of course there’s always the 10% who carry most of the load and carry the deadwood who have lifetime sinecures.
The cap was a major strategic mistake by Trump. It alienated suburban residents in key swing states such as Pennsylvania, Wisconsin, Michigan, and elsewhere. It also undermined rhe Republican brand and image as tax cutters.
Everyone who has an opinion has TDS? Ok...
It may also help him with winning the state of Pennsylvania, which he needs to reach 270, based on curret polls. Many of the voters living in the suburbs of Philadelphia and Pittsburgh have been hit hard by the SALT limit.
It may also help him with winning the state of Pennsylvania, which he needs to reach 270, based on curret polls. Many of the voters living in the suburbs of Philadelphia and Pittsburgh have been hit hard by the SALT limit.
unclebankster Wins a chicken dinner.
This Boneheaded tax increase on millions of Trump voters in NY and CA and other high-tax states should never have happened. When did Republicans become leftists and cheer for tax increases?
He’s now preaching repeal because he needs a Red Wave to govern effectively and these tax cuts could help:
https://freerepublic.com/focus/f-backroom/4265743/posts
“Trump’s rally Wednesday night was in Uniondale, an area that could be key to Republicans maintaining control of the House. His party is trying to protect 18 Republicans in Democratic-heavy congressional districts that Joe Biden carried in 2020, particularly in coastal New York and California, and going on offense to challenge Democrats elsewhere.
“Long Island in particular features one of the most closely watched races, between first-term Republican Rep. Anthony D’Esposito and Democrat Laura Gillen. D’Esposito is a former New York Police detective who won in 2022 in a district that Biden won by about 15 percentage points in 2020.
“Trump posted Tuesday on his Truth Social platform that the GOP has “a real chance of winning” New York “for the first time in many decades.” In that same post, Trump also pledged that he would “get SALT back,” suggesting he would eliminate a cap on state and local tax deductions that were part of tax cut legislation he signed into law in 2017.
“The so-called SALT cap has led to bigger tax bills for many residents of New York, New Jersey, California and other high-cost, high-tax states, and is an important campaign issue in those states, particularly among those New York Republicans serving in districts Biden won.”
He is running a 50 state electoral college race. Winning voters in CA NJ NY will not help his elector count one bit.
You need to read posts 7 and 12 and re-evaluate what fair taxation is. Responsible state tax payers are tired of paying for NY/CA mismanagement and tax abuse.
Trump was against this before he was for it — or for it before he was against it — anyway, he changed his mind.
That’s not good. The country doesn’t need the deficit getting any bigger. Having already turned off the high tax states, Trump doesn’t need to aggravate the no tax states. Also, he ought to be going after Democrats for pandering, not doing it himself, and U-turns on policy aren’t going to make people trust him more. I’ll still vote for him, but it’s frustrating that he doesn’t seem to learn from experience.
Also some of the rapidly growing “red T” counties of the midstate.
We’re clobbered by “annual rent to the government” aka school district property taxes.
Oliver Wendell Holmes, Jr. was a filthy pro-sterilzation tax lover. The words “fair” and “taxation” do not belong together, especially in the context of personal income taxation.
By the reasoning stated, every tax deduction is immoral because there is a flip side to each of them. Renters are subsidizing irresponsible homeowners with a mortgage. The childless and the unmarried are subsidizing their irresponsible married and pro-creative brethren. Heck, why take ANY deduction?
Americans work harder than any other people on the planet. We deserve to keep every penny we earn. The 16th Amendment destroyed that right. Fair enough….but if the 2nd Amendment was repealed, it wouldn’t change the underlying natural right.
In this context, to debate about tax fairness is akin to debating gun control or regulation of speech or religion. You can’t be a little pregnant.
To cheer the capping of the state tax deduction is to cheer the federal government confiscating more hard-earned earnings from the productive class. If you want to penalize California, move….don’t vacation there, don’t buy products where the parent company is in California, don’t employ people living in California, etc.
State tax capping is simply classic Marx and Engles hatred, except it’s not by class but by where people live.
I refuse to become a tax-loving communist.
Bingo! Do not change anything
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