Deduction targeted by GOP used by tax filers in most states

AP via The Sacramento Bee ^ | November 19th, 2017 | Unattributed

[Mariner]

ATLANTA - A popular deduction targeted in the GOP's overhaul of the tax code is used by more than a quarter of all filers in a majority of states, including many led by Republicans where some residents eventually could see their federal tax bills rise.

The exact effect in every state isn't known, in part because of differences in the Senate and House versions of the bill. But the change to the deduction for state and local taxes could alter the bottom lines for millions of taxpayers who itemize.

Residents in high-tax, Democratic-led states appear to be the hardest hit. But some filers also could be left paying more in traditional Republican states, such as Georgia and Utah where about a third of taxpayers claim the deduction.

"It's a bad deal for middle class families and for most Georgians," said Georgia state Rep. Bob Trammell, leader of the House Democrats.

He said Republicans are eliminating the state and local deduction to help pay for tax cuts for businesses and the wealthy.

How many winners and losers are in each state depends in large part on another aspect of the Republican tax overhaul that would nearly double the standard deduction — to about $12,000 for individuals and about $24,000 for married couples.

Republicans say that provision would be a net benefit for most tax filers.

[JayGalt]

Agreed, because people currently taking the deductions & exemptions represent an age cohort. But most people do take them in their season.

[Mariner]

“But most people do take them in their season.”

Certain.

[wbarmy]

The number of people who responded to the word “breeders” probably should have clued you off. Plus, I do not for a minute believe you did not know the connotations of the word, since you used it in such a pejorative way,

You also keep using the word “subsidize” in a fallacious way. Us keeping our money to raise and educate our children is not a “subsidy” being taken from you. As other people posting have brought out, the real solution is to lower government spending so everyone can keep more of their hard earned money.

Then I noticed your post of #159 where you admit that you agree with all of us and this was just playing the devils advocate. I have enough relatives and co-workers who actually play the devil, I do not need some twit on this thread to do it for me.

Goodbye.

[Mariner]

“Us keeping our money to raise and educate our children is not a “subsidy” being taken from you.”

I could not agree more. And it was the entire point of my post.