Posted on 12/02/2017 1:37:52 AM PST by Kaslin
An eventual consequence of taking the generous SALT deductions from the Blue states will be that BS citizens will be screaming bloody murder for tax relief from their state. The Dems wont give it but new tax cutters will look much more attractive. This may give conservatives a chance in many areas. Wont happen overnight but their will be an effect. Migrations will pick up too with other consequences.
I thought we used to scream bloody murder when the Democrats did this with ObamaCare and other bills - jamming them through without even knowing what was in the final bill?
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Yeah. And I say it’s long past time where we play the game by the same rules they feel inclined to follow.
I’m not too happy either - I lose my extra deduction because of my age so after all is said and done I only realize a $100 increased standard deduction which amounts to a crummy $12 tax savings. This sucks!
Umm...
So manchin and that other so called moderate dem once again fell in to a straight dem party line vote. Time to put some serious resources into taking those Trump state senate seats. No more of this moderate bullshit. They’re schumer puppets and we need to use this vote against them.
Just because they keep saying it over and over doesn’t make it true.
The confusion is understandable when people like Kelly Conway are out there using the same phraseology.
It’s very intentionally deceptive.
“How in the heck do I deserve that moniker?
By objecting to my Federal taxes being jacked up by thousands of dollars?”
Because you’re someone who is thinking only of himself. I don’t know why you think this is going to be a negative for you, particularly since there isn’t a finished product for us to plug into our personal circumstances. I’ve been watching the “very early” news broadcasts ( it’s just after 4 a.m. here) and all I am seeing is optimism that what’s been done, while by no means perfect, is a step in the right direction. So while I’m sorry you think this is going to “screw” you, evidently people think that when it’s in final form, it will benefit the bulk of taxpayers.
The problem with taxation in recent years, is that it was full of carve outs to “take care” of everybody’s individual circumstances ( or at least a long list of categories) and maybe, just maybe, you’ve been getting a free ride under the old system and perhaps should be paying more.
Yes I live in one of the bluest of blue stares and this will make my taxes go up by thousands. What is going to happen is that Home values are going to plummet. Many will now be under water in their mortgages and this will tank the economy for awhile. Let’s start another housing crisis. That said, Home values will need to be reassessed and that may bring property taxes down a bit. This tax bill will be worse than Obamacare for millions.
I hope you’ll report back when you actually do your taxes because as I calculate there is only a small group of people earning a 400K to 416K as a married household who will potentially have a 2% increase and only on that portion of their income from 400-416K. The lower taxation % on the rest of their income should offset that tax.
There is a 10K allowance for State/local taxes, thanks to Susan Collins.
At this point no one knows how their particular situation will be effected but I find your sky is falling for me projections premature at best. I speak for many in the Blue States when I say if it costs me personally a couple extra thousand dollars (and I think it won’t) than I am glad to do it for the good of the country and for the massive effect on the National debt, the return of industry in out country and the step towards decreasing the size of Government intrusion.
Good points!
First it was corporations leaving high tax states for lower tax states, then leaving the country altogether.
Oh please.
So people on this board who objected to being raped by ObamaCare were and are guilty only thinking for themeleves?
Moreover, you don't know me. You don't know my friends and family members who will be affected by this tax increase.
And furthermore, there are many Freepers on this board who have raised the same issues with this "tax cut" as I have.
“MAGA is dead to me.”
So when can we expect your opus?
“It’s all over now but the crying.”
Fake news.
House & Senate bills are not the same. There will be a reconciliation between the 2 or both houses of Congress. We don’t know what the final bill will be yet.
Have you ever objected to prevailing opinions on this board?
Ever?
Have you ever objected to anything the Federal government had done or was trying to do to you?
I got it, but it is pretty early here.
Neither bill prevents large tax increases on millions of middle class families by destroying or capping our deductions - and I highly, highly doubt that wil be fixed in reconciliation.
True.
This is from Forbes:
Realtors Predict Tax Bill Will Cause Housing Prices To Drop In Every State
For all those folks who claim to be champions of the retired set, for many people their home is their largest asset.
But, gee - how "selfish" of them to not want their home to lose value because of this tax bill.
Good thing this guy isn't "selfish."
“This tax bill will be worse than Obamacare for millions.”
Fake News.
This tax cut bill is going to open the eyes of millions of people who never had any idea they lived in a high tax state because Fedzilla is currently subsidizing the high tax states.
There is no Constitutional reason for the Federal Gov’t to subsidize the high tax states. It’s not fair to the rest of the nation.
Another pathetic piece of legislation that purports to reform and reduce taxes, but is nothing more than deductible reform for individual taxpayers. If you think it’s a good thing to reduce/eliminate adoption credits, SALT deductions, mortgage interest, long-term care for elderly, and other fiddly farting around with deductions then this bill is for you.
Nobody in 2016 ran on this crap. They ran on tax cuts. What the GOPe delivered is pathetic.
Fake News!
For starters folks like me get a 24k Standard deduction in the tax bill. That’s a big deal for us.
2ndly, and more importantly it is morally & ethically WRONG for Fedzilla to subsidize your high tax state or any high tax state. If states want to keep their taxes high the rest of America shouldn’t be paying for it.
3rdly, where’s that opus?
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