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I think this is just part of simplifying the tax code. Rates will most likely come down for everyone.
based off initial proposals, standard deduction would not go up enough to make up for difference for many middle and upper middle class people in those states. Any GOP house or senate member would be toast and could even take down state level officials too. It's purely a punitive measure to punish blue states, but like most Trump admin policy, it's poorly thought out.
Since most anti Trump posters are renters, or live in their parents basements, (& have never filed a return that wasn't 1040EZ), we probably won't see much partisan discussion on this.
based off initial proposals, standard deduction would not go up enough to make up for difference for many middle and upper middle class people in those states. Any GOP house or senate member would be toast and could even take down state level officials too. It's purely a punitive measure to punish blue states, but like most Trump admin policy, it's poorly thought out.
cause blue states love to tax, tax, tax every last penny
based off initial proposals, standard deduction would not go up enough to make up for difference for many middle and upper middle class people in those states. Any GOP house or senate member would be toast and could even take down state level officials too. It's purely a punitive measure to punish blue states, but like most Trump admin policy, it's poorly thought out.
Not for single people....but it (the standard deduction) will go up high enough for most families.
How is it punitive? & why should one's local taxes be a deduction, but college education tuition not be?
Since most anti Trump posters are renters, or live in their parents basements, (& have never filed a return that wasn't 1040EZ), we probably won't see much partisan discussion on this.
any facts to back that up? Or do you live in the typical Trumpeter world of feelings?
In NJ it seems the towns with the highest taxes are republican towns.
By rate or by dollars? By dollars... Rich people tend to swing GOP.
Quote:
Originally Posted by 1grin_g0
I think this is just part of simplifying the tax code. Rates will most likely come down for everyone.
Im betting simplifying will benefit the high rich the most. (Vs the $100K to 300K crowd)
Quote:
Originally Posted by hound 109
Since most anti Trump posters are renters, or live in their parents basements, (& have never filed a return that wasn't 1040EZ), we probably won't see much partisan discussion on this.
Dumb statement. On the coasts, cost makes renters out of people who could live very comfortably on similar income in "flyover country"
Quote:
Originally Posted by Metsfan53
any facts to back that up? Or do you live in the typical Trumpeter world of feelings?
any facts to back that up? Or do you live in the typical Trumpeter world of feelings?
I'm an economic facist. I don't have feelings when discussing politics.
The only "fact" is annecdotal. You're the only anti-Trumper on this thread. The ramifications of tax changes flies over the head of most Anti-Trumpers (who remain ignorantly gleeful that our national debt went from 9 Trillion to 19 Trillion under Obama).
Besides, either they were just dropped off at the mall, or they're too busy typing russia, russia, russia to tackle an economic question/problem such as: What is better...the Standard Deduction or itemizing State Income Tax?
Your point is not valid. There is no reason to give a tax break to subsidize excess local spending. Get your city and state to REDUCE taxes.
you again miss the point. Politically this would be a loss on the national level for the GOP, as they would lose a good number of house seats over this. That's the point. Other than punishing "coastal elitists"
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