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To: Jim Robinson

Where do these hypothetical famines live? If they live in high tax California, they’re not able to deduct the oppressive taxes they pay to the state. So, a tax increase on their federal returns, right?


3 posted on 12/02/2017 2:48:29 PM PST by WilliamIII
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To: WilliamIII

Not necessarily.

The brackets are wider and rates are lower.


7 posted on 12/02/2017 2:52:47 PM PST by Jonny7797
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To: WilliamIII

If CA/NY/NJ/etc residents don’t like their tax rates they can vote out all their state lawmakers.


9 posted on 12/02/2017 2:57:26 PM PST by Beagle8U (Wake up and smell the Covfef)
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To: WilliamIII

At these income levels, the increased standard deduction covers it. I live in California, am working class and can attest.


12 posted on 12/02/2017 2:59:53 PM PST by Jim Robinson (Resistance to tyrants is obedience to God!)
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To: WilliamIII

According to the news about the bill that passed the Senate, the deduction for local property taxes would still be there for up to $10,000, and the mortgage interest deduction, to $1 million.


20 posted on 12/02/2017 3:08:30 PM PST by familyop ("Welcome to Costco. I love you." --Costco greeter in the movie, "Idiocracy")
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To: WilliamIII
Where do these hypothetical famines live? If they live in high tax California, they’re not able to deduct the oppressive taxes they pay to the state. So, a tax increase on their federal returns, right?

If they're earning 60K to 100K, the larger standard deduction probably means they wouldn't have enough to itemize anyway.

33 posted on 12/02/2017 3:23:12 PM PST by CarmichaelPatriot
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To: WilliamIII

Within the specified income brackets, they probably are not itemizing.

And not stated: the death of the individual mandate penalty will give a lot of people a major boost.


35 posted on 12/02/2017 3:31:47 PM PST by MrEdd (Caveat Emptor)
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