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Personally, I don't think the SALT / MI deductions should exist at all.
However I think that calling everyone who takes them "Rich" is incorrect and deliberately misleading. This is just blue state governors fighting for the interests of their constituents, most of whom are middle class.
Why shouldnt SALT deductions exist? Its the only real way a state can raise some extra revenue for their disabled and the elderly or to improve public education. Without it, the federal government must step in instead to increase the federal public safety net. Attacks on SALT is an attack on the disabled, the elderly, the poor and the destitute.
Why shouldnt SALT deductions exist? Its the only real way a state can raise some extra revenue for their disabled and the elderly or to improve public education. Without it, the federal government must step in instead to increase the federal public safety net. Attacks on SALT is an attack on the disabled, the elderly, the poor and the destitute.
Explain how the deductions raise money for states please.
Explain how the deductions raise money for states please.
Because no state can have a radically different tax burden than any other state as long as we are the United States with free movement of people. Its a race to the bottom. If you assail SALT, you are attacking states' ability to raise revenue to help their disabled people. And the disabled people have nowhere to go. More federal government for a stronger federal safety net for the disabled and the elderly will be the consequences of this. Is that what you want?
Because no state can have a radically different tax burden than any other state as long as we are the United States with free movement of people. Its a race to the bottom. If you assail SALT, you are attacking states' ability to raise revenue to help their disabled people. And the disabled people have nowhere to go. More federal government for a stronger federal safety net for the disabled and the elderly will be the consequences of this. Is that what you want?
How so? Nothing except local laws, and potential political consequences, keeps states or localities from setting whatever tax rates they want.
You still haven't explained how partially eliminating the deduction takes money away from the disabled. According to you guys, smart and wealthy people aren't going to move to low tax states in any event because they're filled with the "wrong" people.
You and all the liberals are always posting about how the blue states have to carry the red states so isn't a good thing to give the red states some advantages to allow them to catch up?
Here's my thoughts on the new tax changes and they are contradictory:
1) The high tax states haven been buying services that they have been able to write off of their federal income taxes (FIT) giving residents there an advantage. From a fairness perspective, either allow the low tax states residents to purchase the same services and write off the cost or do what this new tax bill does, eliminates that tax free service.
2) It does seem unfair to allow these deductions for decades and people made decisions on where to live and what house to buy based on these write offs and to take them away and not grandfather those that have already made those decisions.
3) Regardless of 1 & 2 above, we needed the tax change mainly to lower the corporate rate.
By the way, there's a difference between a blue state and a high tax state....my state, Washington, is a blue state but low state tax state.
Now THAT is a FAIL - low tax states have long had the ability to do what you suggest, and OBVIOUSLY, they have CHOSEN to not do so.
I'm all for a flat tax, across the board, no exceptions, no deductions, no loopholes.
A flat tax starting at Dollar One?
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