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it's about a tax increase. SALT deductions have been around for more than a century and for our country that is a pretty long time.
Yes tax loopholes have been around for a long time. They also change. So loopholes are good as long as they don't benefit those we don't like. They are bad if they do? Im trying to understand. I pay SALTs too. That said I was also hit with the ACA, which was one huge tax increase. The left are still feeling warm and fuzzy over that bad law that did anything but make health care affordable.
Flat tax to me is the most fair. Remove all loopholes. In fact we can even say anyone who makes less than $30,000 a year is federal tax free. End tax returns that exceed what the person actually paid in.
Meanwhile the poor Corporations get to pay less and still have all their loop holes including some new ones. What happened to corporations are people too.
The GOP run by billionaires and robbing from the bottom to stay nice and rich.
Meanwhile the poor Corporations get to pay less and still have all their loop holes including some new ones. What happened to corporations are people too.
The GOP run by billionaires and robbing from the bottom to stay nice and rich.
Simple solution:
Don't buy any products, goods, or services as that enriches the corporations that produce such and the retailers that sell them.
When he's supporting Obama saying he should pay more taxes but his company business model is based on not paying taxes and instead using the money to build his wealth. People are so blinded because they actually thought he cared but in actuality he knew people were ignorant to his business model so he tried to come off as a caring gramps.
That's a deceiving hypocrite.
His business model is built on buying successful undervalued companies and keeping their management in place, he is one of the most respected investors in the industry. His business model has nothing to do with taxes, he will succeed with or without tax code changes. He is number 1 on the philanthropy list and plans to give away his entire fortune so I think he does actually care.
And thank you for proving my point. He takes very little in "income" which is what "income tax" is based on for determining how much is paid in taxes just as many rich do and that's why the class warfare rhetoric from Obama and other Democrat politicians is a big lie told to gain support of the financially ignorant for raising taxes on people who depend on income.
Quote:
Originally Posted by petch751
When Buffett was on stage speaking in support of Obama and his class warfare and people cheering in support of raising taxes "on the rich" all I could do is laugh at the ignorance. It was as bad as Obama giving the speech that because of Obamacare people's HC insurance would go down by 3000%
Yes he takes advantage of the tax code, he has been up front on that and critical of the current system that benefits billionaires like himself. Yes class warfare, billionaires criticizing billionaires. LOL
NJ towns and cities can establish charitable entities that will allow taxpayers to add taxes to a fund that would credit money and allow taxpayers a charitable deduction (which doesn't have a limitation on deductions) and circumvent the $10,000 limitation.
I find it interesting that the average deductions for Bergen County are > $28,000! That's a nice chunk of change!
Apparently some states have IRS-approved charities already in place and NJ figures the IRS can't object without doing away with all of them.
It just goes to prove that for every political action there is an equivalent political reaction.
Maybe the thought was, "charity begins at home" or better yet "with your home"! Or with NJ ...don't get mad - get even!
At the end of the day, people will have to make a charitable donation to government if I am reading that correctly. So people who want a bigger government will foot the bill.
Let's see how that works.
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NJ proposes end run around Tax Reform SALT limitation!
Or with NJ ...don't get mad - get even! 
