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.... KY, MS, LA feeding at the trough of the federal treasury will claiming "leave it to the states" when incomes to things like gay marriage and voting rights?
This is a political statement. Has nothing to do with the proposed tax plan.
Tax changes won't change any of what you stated above.
You have issues far beyond the current tax proposal.
sure- you can't refute that though huh? It's called being hypocritical. Perhaps if LA, MS, KY and the like actually taxed their residents at a rate that enabled them to fund their state budgets they wouldn't be relying so heavily on the deferral govt.
Some people in red states with NO income tax will see their federal taxes increase. There are many people in TN and FL and TX and other red states that will pay more federal taxes. This is especially true if they have semi-expensive property and they pay a high property tax bill. People in FL with waterfront(lake, river, ocean and even canal) often have large property tax bills, even if their house is small and/or old and even if a condo.
People that live on acreage in any state could have a high property tax bill because their land can be expensive and thus they pay a high property tax bill. Anything over $10k year they cannot deduct from their federal income taxes.
We'll likely see real estate sales slow due to this - especially for homes $500k and higher. This applies to all states. Upper middle tax people will be impacted the most by this. Realtors and mortgage companies and home builders and the construction industry could take a hit in their salary if the real estate market stalls.
Just about everyone who itemizes now and makes over $100K and up to about 200K will be paying hundreds more . The reason is that one has to be able to itemize away the loss of the exemptions that were above the top line and there is no way to do that with many being eliminated. Without the exemptions, you get taxed on at least 8K (married) that you did not before. The marginal rates don't make up for it except for higher incomes. I am taking some comfort from knowledgeable sources that this bill has a snowball's chance in hell of getting out of even the House. It is probably not worth getting too worked up about just yet other than the fact the Republicans appear to be willing to stick it to upper middle income Americans to cover the loss from corporate reductions.
sure- you can't refute that though huh? It's called being hypocritical. Perhaps if LA, MS, KY and the like actually taxed their residents at a rate that enabled them to fund their state budgets they wouldn't be relying so heavily on the deferral govt.
Because the people there are poor. Understand what poor is ?
Yes, the Fed Gov takes care of the poor.
And soon CA will join the ranks of those that get more. They are at $.99/$1.00 they send in.
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