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.”
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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.
I suppose, but capping the local property tax so low is absurd.
I pay $19,000/year and live in rural Texas.
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%.
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.
So it appears the only thing keeping the Democrats afloat is a federal government subsidy of state and local government.
More likely high income liberals from NYC, Connecticut, Boston, etc will flee to places like Texas and begin voting for higher taxes there. Because it's what they do.
It sounds like a damn good start.
If doubling the standard deduction doesn’t cover the local taxes, it is time to move.
Great if it ties the hand of big spending state governments
Too bad it doesn’t do anything about the hand of the IRS which is still deep in my pocket.
Btt
elections like erections have consequences.
seems like we are witnessing plenty of both in our halls of government and the alphabet agencies.
The problem is this will just increase the number of Dems who will flee these high tax blue states and turn purple states blue. The entire eastern seaboard from NC to FL is at risk now, IMO.
Gee really? You just got that? Wow very smart! What do you think it was about? THIS is why the Democrats were crying and throwing themselves on the floor kicking away. They are finished in about a year after this kicks in.
“The ultimate effect would be to decrease governments’ ability to raise taxes and increase spending”
What grand, delicious irony.
The goal to “decrease governments’ ability to raise taxes and increase spending” will be achieved by raising taxes and increasing spending.