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Democrats and the media fight any tax cuts that benefit "anyone" by repeating over and over again that tax cuts benefit the rich. In this case they are fighting to keep tax breaks for the rich that don't benefit many middle class Americans who can't afford to hold such debt or live in high COL states.
Don't let the media educate you on taxes. People need to educate themselves to see if what they are told is true, instead of easily and willingly buying the rhetoric. The media and politicians know it's easy to fool people who are not educated and have no interest in learning and use the media as their educational source. Schumer (from NEW YORK both a high COL and high tax state) tried to spin and lie about it but was called on it.
Democrats and the media fight any tax cuts that benefit "anyone" by repeating over and over again that tax cuts benefit the rich. In this case they are fighting to keep tax breaks for the rich that don't benefit many middle class Americans who can't afford to hold such debt or live in high COL states.
Don't let the media educate you on taxes. People need to educate themselves to see if what they are told is true, instead of easily and willingly buying the rhetoric. That's where the media comes in... the spin. It's easy to fool people who are not educated and have no interest in learning and use the media as their educational source.
Meh. I doubt this will get passed. Tax changes are even more difficult then healthcare. And mix in increased deficits from the start? Yeah. Once they start talking about what special interest deductions to cut everything will go ballistic.
The initial information release is the most positive things that will be said. Its all about the feel good things. Once the details are hammered out, that is when everyone goes ballistic.
Petch is right to call Schumer out as well, he was blatantly misinforming folks. And honestly he doesn't have too. The details will doom this as it moves forward. But the fact that from the get go this harms blue states more is fascinating.
Sounds to me he's talking about a below the line deduction which is not dollar for dollar but since I don't benefit from the child care dependent credit I'll have to look into it. A 72,000 page tax code is crazy.
You are correct a deduction and a credit are different. The credit is dollar for dollar. I just checked with my husband and we do not qualify for this so I was wrong, we do not get ANY deduction for our childcare..
Some on this thread will be happy about that lol
I know and that's the exact point I'm arguing. The rich who live in expensive homes and or high tax states and high COL states are able to write that state tax off against their federal taxes (they get to keep more of their money) because they easily make it above the standard deduction while the middle class must go into a lot of debt to get that advantage, many who can't afford to go into that much debt. Who benefits mostly from the write off? People who have expensive homes, or live in high tax and or high COL states.
You've never lived in the larger eastern metro areas of the US. Places like DC or NJ/NY. There $320k will not get you anything liveable. Not these days.
You've never lived in the larger eastern metro areas of the US. Places like DC or NJ/NY. There $320k will not get you anything liveable. Not these days.
LOL agree and I wouldn't, It cost you a lot to buy reasonable housing (meaning also pay higher taxes on a higher valued home) and have to pay high taxes both because of cost and high % taxes, so why is it that you get to reduce your federal taxes bill (to pay bills for the entire country) because you chose to live go into a lot of debt to buy reasonable housing and have to pay high taxes. Essentially reducing your tax bill federally.
You've never lived in the larger eastern metro areas of the US. Places like DC or NJ/NY. There $320k will not get you anything liveable. Not these days.
Stop voting for the Democrats then. Large cities continue to vote for the Democrats and continue to pile on more and more expenses and taxes.
One thing liberals are going to complain with Trumps tax code is no longer having the ability to write off state taxes. They will downplay ALL Americans being able to write off more in the standard deduction. Who benefits from writing off state taxes the most? People who own expensive homes and live in high tax states like New York and California. This is the rest of the country who live in lower tax states and lower valued homes subsidizing these high tax states. Essentially the rich people will lose this tax deduction so the rest of us can increase our standard deduction.
The left is going to scream about it.
You have special skills to see into the future - oh my.
Seeing as none of what you say can be disproven because it can't be proven -- useless hypothetical discussion.
You've never lived in the larger eastern metro areas of the US. Places like DC or NJ/NY. There $320k will not get you anything liveable. Not these days.
And while I'm at it, while I pay less for more house, pay less in state taxes and am able to save and invest more of my money, building my net worth, your money went to crazy high mortgage, state and local taxes / government... Gone forever! And guess what, we are probably living the same if not better standard of living. You'll just have to work longer, work harder, live a lower standard of living in hopes that some day you too can retire and live life.
You have special skills to see into the future - oh my.
Seeing as none of what you say can be disproven because it can't be proven -- useless hypothetical discussion.
LOL, I'll bet Democrats call it racist too.
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