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Maybe it is a good time to end the 16th Amendment and go back to being free from the police state it created.
sure...let me know how that goes..me- I'll enjoy highways, schools, social security, Medicare, hospitals, etc... but I must be a socialist...
.your argument would serve Blue "coastal elite" states much better than it would Red ones...unless you think La, MS, and KY can really fund themselves?
perhaps they could if they got back what they paid to the Fed Gov instead of taking back pennies on the dollar to subsidized low tax states like KY and MS that feed like pigs at the trough on federal tax dollars from states like NY & NJ.
For an analysis of this to be fair and accurate the calculation is so complex it may be impossible. You cannot use the raw data for this.
For example NM always tops this list by a huge margin. Los Alamos and Sandia National Lab are both very expensive facilitates with combined budget of about 5 billion dollars. Those two facilities by themselves add $2500 in federal per capita spending in NM. Granted NM benefits from that spending but the primary beneficiary of the work they do there is the entire nation.
I didn't know that retail workers and auto mechanics were "coastal elites".
Trump & the GOP are increasing the tax, taking more federal tax from the paychecks, of everyone who pays state tax.
Don't think retail workers and auto mechanics (you're implying the blue collar working man) has to worry about the negative implications of the tax reform.
So is this cap per person, or per household? Why can't a working married couple, file separately (instead of jointly) each claiming the maximum deduction?
Because govt. is broke and needs all the money it can get. Fair and equitable taxation.
I didn't know that retail workers and auto mechanics were "coastal elites".
Trump & the GOP are increasing the tax, taking more federal tax from the paychecks, of everyone who pays state tax.
Only people who itemize. Vast majority of retail workers and auto mechanics don't itemize and take the standard deduction. Even in high tax states.
I liked the Senate version of the bill better with all SALT deductions eliminated completely. If you vote for tax increases locally, you shouldn't be getting rewarded for it by the federal government. If you believe in high taxes, fine, you should pay it.
Only people who itemize. Vast majority of retail workers and auto mechanics don't itemize and take the standard deduction.
I liked the Senate version of the bill better with all SALT deductions eliminated completely. If you vote for tax increases locally, you shouldn't be getting rewarded for it by the federal government.
tell you what- I'll sign off on SALT going bye bye if you agree that states get back what they pay to Fed Gov in taxes, no more, no less.
Let's see if the low tax red states will go for that one...
So is this cap per person, or per household? Why can't a working married couple, file separately (instead of jointly) each claiming the maximum deduction?
The cap is the same for both single and married filers. 2 single people get $20,000 in deductions while a married couple gets $10,000. Why people think being married is always advantageous for taxes is beyond me. We pay a marriage penalty every year and the SALT cap will only make it bigger.
welcome to the result of historically low interest rates, suspension of traditional accounting rules and fed injections -- driving up values so you can pay more taxes. funny how that works.
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