This contestant figured it out, lol.
Posted on 12/02/2017 1:37:52 AM PST by Kaslin
(Those deductions (some like SALT have been in the Tax Code since 1913 to prevent double taxation) are not gone - FOREVER!).
Good! You want to live in a state with an income tax then so be it but that burden will now fall on your shoulders. you do realize that the loss in revenue from your deduction is just added onto the burden of others. It was still double taxation with the exception that not you but we covered your state tax for you. Somebody had to come up with that loss. If anything this might improve things for those with state taxes and they’ll finally grow a pair and fight against it, or move. You can’t tax what’s not there. Sir I’m in the oil and gas business and we’ve been the pissing post of this nation since I went into it. Everybody pissed on us and everybody taxed us and nobody gives a rats ass. So don’t play poor pitiful Pearl with me.
Don’t tax him and don’t tax me, tax that man behind the tree!
The prohibition against Double Taxation (taxes paid twice on the same source of earned income) on individuals made the provision right.
Why should those state tax payers subsidize the rest of us in the amount they pay in federal taxes anyway? They receive deductions like the rest of us and at the State level receive more BECAUSE they already pay more than the citizens of other states at the FEDERAL LEVEL. This returns more money TO THEIR OWN STATE.
Since when did the federal money masters convince a conservative forum that more going to the fed and away from states is more preferred?
Well, that's true Jim.
I will live by this provision:
"Jesus said to them, “Render to Caesar the things that are Caesar’s, and to God the things that are God’s.” And they marveled at him."
Mark 12:17
You do realize this deduction is because those states you are trashing are already paying more than you and I at the federal level anyway right? They aren’t subsidizing crap! They and their states are returning more of their money the feds have already stolen from them and spendingnit in the states. In essence they are truly subsidizing you and I anyway at the federal level
http://freerepublic.com/focus/f-news/3609832/posts?page=22#22
Boy aint that the truth.
I am gonna wait till the final bill and see what comes up. As it stands, this appears to benefit my wife and myself. But, people forget the bastard sob that started this crap back in the early 1900s.
The only way to put an end to all this is to eliminate the income tax and go to a Fair tax.
There is no difference between the German NAZI party and this Democrat party.
This contestant figured it out, lol.
Tax reform is on track and Democrats/Trolls/Never Trumpsters want to derail it. Don’t believe these myths about the Senate’s bill:
I am tired of reading everybody b!txhin about SP (and others) concerns. EVERYBODY here is expounding some kind of payoff they like. My 401k plan will be MAGA, the blue states get their just due, etc, etc, etc. Everyone is espousing a certain kind of expected hope and end result. And, for some, it is highly personal and immediate. There is no whining, Stick. Unless you want to re-evaluate your definition for inclusion. It just depends on the payoff you seek.
Tax reform is on track and Democrats/Trolls/Never Trumpsters want to derail it. Don’t believe these myths about the Senate’s bill:
Tax reform is on track and Democrats/Trolls/Never Trumpsters want to derail it. Don’t believe these myths about the Senate’s bill:
I don't think they will mess with taxes after they squeak this through, unless there is a war, severe economic downturn, etc.
But as always, I appreciate your sober thoughts and analysis.
I must go tackle leaves now!
See ya.
CNN calls it a victory for Republicans. I smell a huge trap.
“Those deductions (some like SALT have been in the Tax Code since 1913 to prevent double taxation)”
The combination of federal taxes and state & local taxes is not “double taxation”.
If you folks in your state insist in taxing yourselves higher than most states, that is an issue in your state, not a federal issue and not deserving of special consideration in federal taxes.
If your “double taxation” analogy was correct, then by whatever much your state taxes exceed the national media, federal expenses going to your state should be equally reduced, as the analogy suggests that both sets of taxes are to fund the same thing and you shouldn’t be paying twice for it. Well you’re not. You’re just agreeing to pay more in state taxes than others, period.
But back to the main point. The primary purposes of the federal government were/are intended to be separate and different. But when you progressives started linking them, in 1913, federalism and the separation of powers intended in federalism were dismissed. Why? To push more centralized federal power into Washington D.C.
My payoff:
Feds get out of my pocket and let my taxing occur at the state level
Flat tax at 10% or no fed income tax and let the feds raise the difference in tarrifs
No deductions at any level after above occurs
Slash spending commensurate with above to a balanced budget
The Collins amendment allows the deductibility of the first $10,000 of {either mortgage interest, or was it SALT — the sources I’ve read differ}.
The Collins amendment allows the deductibility of the first $10,000 of {either mortgage interest, or was it SALT — the sources I’ve read differ}.
What does that mean?
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