The increase in SALT caps is so ridiculous

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Did our taxes. The increase in SALT now means it is far better for us to itemize than do standard deduction. Before this change, we would only get back about $400 per year total, because we were pretty on par for paying the exact amount of taxes as we should. Now with the SALT cap increase, we are getting a massive return more than $6000.

You know what I’ll do with this money? Probably just stuff it in the bank account. Not really going to stimulate the economy with it. The national debt is exploding, yet I have no idea why the govt wants to give well off DINKS like us huge tax returns. We were drinking a $280 bottle of wine the other night for a weekday dinner. I really don’t need this money and rather the country remained solvent.

Your return is the form you file.

You meant to say “refund.”

If you are go to opine on tax policy it helps to use the proper nomenclature.

Imagine being this annoyingly pedantic.

I'm sure they love you at parties.

This isn’t being pedantic. OP is getting basic terminology wrong and sounds like an idiot.

[Anonymous]

No one is forcing you to itemize. Take the standard deduction.

[Anonymous]

This is not believable

[Anonymous]

Every partner in every partnership has gotten the full salt deduction for years. Be happy you got the additional $30k.

[Anonymous]

Anonymous wrote:Did our taxes. The increase in SALT now means it is far better for us to itemize than do standard deduction. Before this change, we would only get back about $400 per year total, because we were pretty on par for paying the exact amount of taxes as we should. Now with the SALT cap increase, we are getting a massive return more than $6000.

You know what I’ll do with this money? Probably just stuff it in the bank account. Not really going to stimulate the economy with it. The national debt is exploding, yet I have no idea why the govt wants to give well off DINKS like us huge tax returns. We were drinking a $280 bottle of wine the other night for a weekday dinner. I really don’t need this money and rather the country remained solvent.

So, OP, you’re basically complaining because a new change in tax law provides you and many more households with more tax filing options? Thanks to the increased SALT deduction, our itemized deduction option for 2025 jumped to $69K vs. $39K. We’re still $4900 over the $40K cap. For us, itemizing makes more financial sense for us personally either way. Regardless, we choosing the standard deduction anyway because: 1. we don’t need the money, 2. we do want to stimulate the economy and keep the treasury solvent, and 3. we care more about others than we do ourselves.

Every person that files taxes is free to choose whether to itemize or to use the standard deduction. We and most of our wealthier friends usually pick the option that puts more money back into the hands of the USG so it can be redistributed to those that are truly in need. I’m actually sickened by your post, OP, and the fact that you wouldn’t do the same. Do you also steal money from the church collection plate, inflate the value of your charitable contributions, and drive an EV just b/c you can charge it for free at work or the airport?!?

MAGA and BBB aren’t to blame for our massive debt. It’s greedy, selfish, virtue signaling people like you, OP, that – when given the opportunity – always optimize for their own self interest.

Stop buying $280 bottles of wine for yourself and start donating $280 here and there to some local charities so fewer children starve every day. You’re about as low as one can get, OP.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Did our taxes. The increase in SALT now means it is far better for us to itemize than do standard deduction. Before this change, we would only get back about $400 per year total, because we were pretty on par for paying the exact amount of taxes as we should. Now with the SALT cap increase, we are getting a massive return more than $6000.

You know what I’ll do with this money? Probably just stuff it in the bank account. Not really going to stimulate the economy with it. The national debt is exploding, yet I have no idea why the govt wants to give well off DINKS like us huge tax returns. We were drinking a $280 bottle of wine the other night for a weekday dinner. I really don’t need this money and rather the country remained solvent.

So, OP, you’re basically complaining because a new change in tax law provides you and many more households with more tax filing options? Thanks to the increased SALT deduction, our itemized deduction option for 2025 jumped to $69K vs. $39K. We’re still $4900 over the $40K cap. For us, itemizing makes more financial sense for us personally either way. Regardless, we choosing the standard deduction anyway because: 1. we don’t need the money, 2. we do want to stimulate the economy and keep the treasury solvent, and 3. we care more about others than we do ourselves.

Every person that files taxes is free to choose whether to itemize or to use the standard deduction. We and most of our wealthier friends usually pick the option that puts more money back into the hands of the USG so it can be redistributed to those that are truly in need. I’m actually sickened by your post, OP, and the fact that you wouldn’t do the same. Do you also steal money from the church collection plate, inflate the value of your charitable contributions, and drive an EV just b/c you can charge it for free at work or the airport?!?

MAGA and BBB aren’t to blame for our massive debt. It’s greedy, selfish, virtue signaling people like you, OP, that – when given the opportunity – always optimize for their own self interest.

Stop buying $280 bottles of wine for yourself and start donating $280 here and there to some local charities so fewer children starve every day. You’re about as low as one can get, OP.

Taking a legal deduction isn't 'stealing from a collection plate'—it’s following the law. Shaming others for not making a 'voluntary donation' to a debt-ridden federal agency doesn't help the poor; it just makes you feel morally superior while the systemic problems worsen.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Did our taxes. The increase in SALT now means it is far better for us to itemize than do standard deduction. Before this change, we would only get back about $400 per year total, because we were pretty on par for paying the exact amount of taxes as we should. Now with the SALT cap increase, we are getting a massive return more than $6000.

You know what I’ll do with this money? Probably just stuff it in the bank account. Not really going to stimulate the economy with it. The national debt is exploding, yet I have no idea why the govt wants to give well off DINKS like us huge tax returns. We were drinking a $280 bottle of wine the other night for a weekday dinner. I really don’t need this money and rather the country remained solvent.

So, OP, you’re basically complaining because a new change in tax law provides you and many more households with more tax filing options? Thanks to the increased SALT deduction, our itemized deduction option for 2025 jumped to $69K vs. $39K. We’re still $4900 over the $40K cap. For us, itemizing makes more financial sense for us personally either way. Regardless, we choosing the standard deduction anyway because: 1. we don’t need the money, 2. we do want to stimulate the economy and keep the treasury solvent, and 3. we care more about others than we do ourselves.

Every person that files taxes is free to choose whether to itemize or to use the standard deduction. We and most of our wealthier friends usually pick the option that puts more money back into the hands of the USG so it can be redistributed to those that are truly in need. I’m actually sickened by your post, OP, and the fact that you wouldn’t do the same. Do you also steal money from the church collection plate, inflate the value of your charitable contributions, and drive an EV just b/c you can charge it for free at work or the airport?!?

MAGA and BBB aren’t to blame for our massive debt. It’s greedy, selfish, virtue signaling people like you, OP, that – when given the opportunity – always optimize for their own self interest.

Stop buying $280 bottles of wine for yourself and start donating $280 here and there to some local charities so fewer children starve every day. You’re about as low as one can get, OP.

Talk about /s!!!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Did our taxes. The increase in SALT now means it is far better for us to itemize than do standard deduction. Before this change, we would only get back about $400 per year total, because we were pretty on par for paying the exact amount of taxes as we should. Now with the SALT cap increase, we are getting a massive return more than $6000.

You know what I’ll do with this money? Probably just stuff it in the bank account. Not really going to stimulate the economy with it. The national debt is exploding, yet I have no idea why the govt wants to give well off DINKS like us huge tax returns. We were drinking a $280 bottle of wine the other night for a weekday dinner. I really don’t need this money and rather the country remained solvent.

So, OP, you’re basically complaining because a new change in tax law provides you and many more households with more tax filing options? Thanks to the increased SALT deduction, our itemized deduction option for 2025 jumped to $69K vs. $39K. We’re still $4900 over the $40K cap. For us, itemizing makes more financial sense for us personally either way. Regardless, we choosing the standard deduction anyway because: 1. we don’t need the money, 2. we do want to stimulate the economy and keep the treasury solvent, and 3. we care more about others than we do ourselves.

Every person that files taxes is free to choose whether to itemize or to use the standard deduction. We and most of our wealthier friends usually pick the option that puts more money back into the hands of the USG so it can be redistributed to those that are truly in need. I’m actually sickened by your post, OP, and the fact that you wouldn’t do the same. Do you also steal money from the church collection plate, inflate the value of your charitable contributions, and drive an EV just b/c you can charge it for free at work or the airport?!?

MAGA and BBB aren’t to blame for our massive debt. It’s greedy, selfish, virtue signaling people like you, OP, that – when given the opportunity – always optimize for their own self interest.

Stop buying $280 bottles of wine for yourself and start donating $280 here and there to some local charities so fewer children starve every day. You’re about as low as one can get, OP.

Taking a legal deduction isn't 'stealing from a collection plate'—it’s following the law. Shaming others for not making a 'voluntary donation' to a debt-ridden federal agency doesn't help the poor; it just makes you feel morally superior while the systemic problems worsen.

PP again
Plus...
The OBBB actually cuts Medicaid and student loan programs to partially offset the cost of tax breaks like the one you are grandstanding about.
The SALT cap increase alone is estimated to cost the government $140–$145 billion over 10 years.

The so-called tips you are leaving behind for IRS is no match for the massive fiscal burden you are leaving behind for posterity.

[Anonymous]

Anonymous wrote:Did our taxes. The increase in SALT now means it is far better for us to itemize than do standard deduction. Before this change, we would only get back about $400 per year total, because we were pretty on par for paying the exact amount of taxes as we should. Now with the SALT cap increase, we are getting a massive return more than $6000.

You know what I’ll do with this money? Probably just stuff it in the bank account. Not really going to stimulate the economy with it. The national debt is exploding, yet I have no idea why the govt wants to give well off DINKS like us huge tax returns. We were drinking a $280 bottle of wine the other night for a weekday dinner. I really don’t need this money and rather the country remained solvent.

Then take the standard deduction and give it back to the Treasury. They will happily accept it.

[Anonymous]

As a single mom HoH in a high COL area, this makes a huge difference for me.

However, I also feel like it takes pressure off of Virginia and Fairfax County to keep taxes low.
My property taxes are getting ridiculous and I’m not unconcerned about Spanburger’s plans either.

[Anonymous]

Anonymous wrote:As a single mom HoH in a high COL area, this makes a huge difference for me.

However, I also feel like it takes pressure off of Virginia and Fairfax County to keep taxes low.
My property taxes are getting ridiculous and I’m not unconcerned about Spanburger’s plans either.

That's terrible reasoning. Thr SALT increase will be phased out in 2030. If the current cap increase encourages blue states and cities to increase taxes because residents will write it off, it will blow them up in a few years when the cap goes back down. Do you think they'll cut propert and state taxes then? Hell no. It'll get much worse to live in blue states.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If you don't need it, give it away to someone who does. The Capital Area food bank always needs more money.

It's not that, it's that the country is blowing itself up. We are all going to be in the poverty line if the US defaults on our debt. The BBB is masisvely exploding thr debt. Paying interest alone on the debt is now costing like $1T for the country.

If we do nothing soon, we default and have Great Depression 2. If we don't want that, then taxes have to go up while measures of austerity will have to be severe - huge cuts to Medicare, Medicaid and the military.

There is no reason more well to do off folks should be getting huge tax cuts. The amount they get back isn't going to make their lives better. Making sure the country stays solvent will, however.

Nobody, and I mean nobody is willing to pay more taxes. Democrats have tried to raise taxes and lose elections because of it.

And nobody is calling for tax increases on anyone except the ultra wealthy anyways.

Cut the defense budget.
Abolish ICE, use those funds to restore cancer research and mental health services.
Stop paying government workers you terminate and then retire.
Stop putting president’s names in buildings 30 days before you close them.
Stop corrupt admins.

There’s a lot we can do here while also raising taxes on billionaires and billionaire corporations.

[Anonymous]

Anonymous wrote:Why not donate it to a charity? Thats what I would do if I was a dink with disposable income and more savings than I needed.

I always check how charity is spending money and some of them have large overhead.

[Anonymous]

Increasing the SALT helps MC/UMC especially for those in hcol. I say tax the uber wealthy more.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why not donate it to a charity? Thats what I would do if I was a dink with disposable income and more savings than I needed.

I always check how charity is spending money and some of them have large overhead.

Find a school in a low income area that has a lot of students with meal balances, and pay it off.

Buy a load of canned food and donate it to your local pantry.

On Xmas, get involved in the Angel Tree xmas gift giving by buying presents for kids in need.

Buy a bunch of backpacks and school supplies and donate them to the local back to school event that usually seeks school supply donations for low income kids.

Those are all the things I've participated in. I did give several hundred dollars to the local food bank during covid, but I figure they do need cash to run the place.