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No, it's not worth it anymore, unless you donate a very high amount. Maybe you should look at it again before pretending to be smarter than others.
You have up to $12,000 in deductions without needing to itemize it. This means you can claim $12,000, even if you didn't really have that much in charity donations. I don't see what your problem is. Before, it was 6,000 something. Same thing applies, if your itemized deductions add up under that, you take the standard deduction. If they add up over it, you itemize it. This is a tax cut. You just don't get it.
Nothing up in smoke here in red state. In fact, several new bridges on state roads have just been built.
Don't you live in Illinois? That's a blue state.
Meanwhile, what was it, last year, or the year before, that bridge in Florida collapsed. Courtesy of a low tax state. You wonder what will happen to Florida if it survives a dead strike from a hurricane - it will require Federal funds to rebuild its antiquated electrical grid.
Mostly the very rich with very expensive homes and high property taxes.
I thought Democrats were all for Taxing the rich more ?
That's one of the benefits of the new tax program.
The very rich lose some of their deductions.
Thought you'd be happy about that.
Seriously, I can't even figure out how people refer to this as a tax cut for the rich. The only people who get hit with bigger taxes are the people the Democrats have defining as "rich" since the 16th Amendment was ratified.
Sure, middle class folks in high tax states aren't actually rich, but it wasn't Republicans who spent the last 50 years demonizing people with the misuse of statistics and phrases like "six figure earners" and "top 5%" and all that. If you live within 5 miles of Palo Alto and make 6 figures, that means you have 4 roommates and live in a 1300 sq ft house. For years and years, individual markets meant nothing to "tax the rich" hysterics, because they conveniently forgot all the middle class folks and small businesses who got unfairly demonized in their hamfisted use of national averages that totally disregarded the context we call "individual markets and economies within the larger nation."
But this shell game of hiding onerous taxation and wildly (and artificially) inflated property values behind a federal deduction that spreads the cost around in order to hide the lie needed to end. Yes, there are about 10-11 million people hit negatively with the truth of high taxes and bloated cost of living areas, but they now have more knowledge about what their local politicians are and have been up to. They can now start knocking on local doors and demanding local change, armed as they are with the truth.
No. Haven't lived there for years. I'm in a red state now.
Quote:
Meanwhile, what was it, last year, or the year before, that bridge in Florida collapsed. Courtesy of a low tax state. You wonder what will happen to Florida if it survives a dead strike from a hurricane - it will require Federal funds to rebuild its antiquated electrical grid.
The price for the pedestrian bridge that collapsed was $14.2 million. And the issue was the design and builder. FIGG Bridge Engineers and Munilla Construction Management. The collapse wasn't a function of inadequate spending. It was a function of inadequate design and inadequate construction, attributable to the fact that the design for the project was overseen by the university itself, not the FL DOT.
You'd have to ask them if that is true. I can't speak for them since I am not a Dem. This tax change is hurting lot of middle class people, not just those you consider 'rich' (=those who pay > $10K in SALT).
State income taxes in Texas (0%).
In California (1-12%).
So to hit the SALT caps in Texas you probably need to have real estate value at half a million, which buys you a lot of house in Texas. Probably not your typical middle-class professional much less minimum wage flunkie.
Meanwhile, what was it, last year, or the year before, that bridge in Florida collapsed. Courtesy of a low tax state. You wonder what will happen to Florida if it survives a dead strike from a hurricane - it will require Federal funds to rebuild its antiquated electrical grid.
The bridge hadn't even opened. It has nothing to do with taxes. And no need to wonder - Florida just survived a dead strike from a hurricane a little over a year ago.
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