Posted on 12/11/2017 2:43:58 PM PST by x1stcav
The tax overhaul would raise the taxes of some earners and make it harder for states to do the same. The ultimate effect would be to decrease governments’ ability to raise taxes and increase spending – essentially reining in state budgeteers.
That is an advantage to conservatives who have long sought to advance fiscal conservatism at the state level and who see the state and local tax deduction as a subsidy for high-spending, high-taxing states – that is, blue states.
“This was our point from the start,” said Jonathan Williams, chief economist at the American Legislative Exchange Council, a group that advocates free-market policies for state governments.
“We hope that it engenders more fiscal discipline at the state level in those high-tax states,” Williams said.
(Excerpt) Read more at washingtonexaminer.com ...
Low and No Income Tax states citizens essentially subsidize the high tax states citizenry...........
I live in California and I hope the offsets come out about equal.
“I can only hope it turns out this way.”
—
Yeah, I’m of the mind that it’s just some wishful thinking that will come back to bite Republicans. I’m so old that I can remember when conservatives wanted to lower American’s taxes - now they’ve become the ones who tax American’s taxes. Oy.
when is the tax cut going to get voted on? The longer this drags the more time they have to drip out negative attacks on the bill. It’s excruciating. Get the vote done. They should have done it already now if Moore loses you can kiss your tax cut goodbye, maybe that’s what that bastard Mitch wants.
I suppose, but capping the local property tax so low is absurd.
I pay $19,000/year and live in rural Texas.
Yikes!
How much property/acreage do you have?
.
Tax bill puts governments of blue states under pressure to lower state taxes
Trump comes from a blue state
For that reason and that reason alone I support the tax bill.
I have an S-Corp in tax-free Texas so I am getting screwed. But in any tax overhaul a large number of bulls will get gored. I just happen to be one of them.
But it is a broken promise as I was assured corporate taxes would go down. To like 15%.
They do have to fix the 100+% marginal rate reported yesterday. Or maybe it’s a feature, not a bug.
“I pay $19,000/year and live in rural Texas.”
Is this on your house or your 1000 acre ranch?
I live in NYS and I know folks paying between 6 to 10 grand/yr on $100,000 to $200,000 homes with a postage stamp-sized lot.
You’re arguing for raising taxes on upper middle class in California. Many are Republicans. When did the GOP and FR become supporters of raising taxes on private citizens? I thought Democrats were the tax-raisers
The only bad thing I see about this is that there are a few (very few) intelligent Socialists.
They’ll RUN from their gawd-forsaken, ruined Blue states and head inland to a Red State...but they’ll bring their Socialist CANCER with them!
Ask any Red state that borders a Blue one. Socialists destroy everything they touch. :(
I like those amenities as much as the next person but the Democrats in Sacto are spending like drunken sailors (no offense to drunken sailors). Much of the spending is to buy Democrat votes and to shore up the pork that Democrat politicians throughout the state can take credit for at election time. I may take a tax hit under the new bill but I'm all for putting pressure on high-tax states to face their fiscal realities.
They more than make up for it in the amount they pay in federal income taxes in fact per capita far more than the other states and take less in federal money.
Since when did it become an us vs. them paradigm with respect to federal taxes!? This whole “subsidy” schtick is liberal code word for the federal government “it’s our money! We know how best to spend it now give us more more more!!”
“I live in NYS and I know folks paying between 6 to 10 grand/yr on $100,000 to $200,000 homes with a postage stamp-sized lot.”
Yea, by brother lives there and pays 12K. And I pay 3.6K in Idaho, but it’s a half million dollar 5000 SF house.
But his is way high for rural Texas.
This is what happens in a populist movement, to hell with the guy who pays more than me in federal income taxes irrespective of the write offs! To hell with my fellow Americans no matter their political persuasion as long as big daddy Government gets it to feed the piggy trough the populist wins.
When did the GOP and FR become supporters of raising taxes on private citizens?
The tax rate is staying the same. The only change is the removal of subsidies.
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