Is there any momentum to increase SALT limit

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Maybe blue states should lower their taxes?

And end up like red states with crumbling infrastructure and shitty schools? Nope.

Ummm....another misinformed post. Red and Blue states both have crumbling infrastructure and crappy schools.

Not true. Blue states in general have much better schools, infrastructure and amenities.

Ever been to a red state and seen what passes as a park?

Look what happened to schools in Kansas after Brownback ruined the state with his ridiculous tax policies.

[Anonymous]

Just remember....

Our government (Federal, State, and Local) don't have a tax revenue problem they have a spending problem. This is simple 2nd grade arithmetic.

There is so much waste in government it's mind-boggling. I would know I used to work in the government.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Maybe blue states should lower their taxes?

And end up like red states with crumbling infrastructure and shitty schools? Nope.

Ummm....another misinformed post. Red and Blue states both have crumbling infrastructure and crappy schools.

Not true. Blue states in general have much better schools, infrastructure and amenities.

Ever been to a red state and seen what passes as a park?

Look what happened to schools in Kansas after Brownback ruined the state with his ridiculous tax policies.

You need to get out more. Anecdotal examples don't make your case. I have been to parks in both blue and red states and some where nice and some were nothing special

Schools are mostly funded by property taxes. Baltimore County and Washington DC (both very heavy blue enclaves) have some of the worst schools in the country.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s ridiculous we spend all this energy arguing over whether the SALT deduction is hood tax policy or not when the QBI pass thru is literally the worst piece of tax policy of the ladt 50 years.

The Trump tax bill was explicitly designed to help Trump and people like him and to screw Democrats and blue states

I LOVE the QBI deduction – it was like a $35K deduction that came out of nowhere!

And yes, I’m a Trump voter; you can suck it. And by the way, if you’re admitting that the engine of economic growth - small business - overwhelmingly favors Republicans, what does that say about Democrats?

Nope, large businesses drive the economy and the trend has been becoming even more pronounced over the last 20 years. Even the Small Business Administration admits that large businesses account for more GDP growth than small businesses. There is absolutely no economic policy justification to favor smaller pass-through businesses. Just a gift to the Republican base, like you.
https://advocacy.sba.gov/2019/01/30/small-businesses-generate-44-percent-of-u-s-economic-activity/

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Maybe blue states should lower their taxes?

And end up like red states with crumbling infrastructure and shitty schools? Nope.

Ummm....another misinformed post. Red and Blue states both have crumbling infrastructure and crappy schools.

Not true. Blue states in general have much better schools, infrastructure and amenities.

Ever been to a red state and seen what passes as a park?

Look what happened to schools in Kansas after Brownback ruined the state with his ridiculous tax policies.

Nobody in IL agrees with you

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think it should be capped at 20k not 10k.

20k is reasonable. More is unreasonable.

Nope. For once a tax that only affects the top 10% was put in place and is now benefiting the country. It should stay at $10k or even cut in half

Except those running “small businesses” can claim the excess tax through their businesses. There’s always a loophole. It hurts middle class families in high tax states the most

Huh? Explain how this is possible – I own a small business and see no way that this would be feasible.

The small business can take elect to pay state entity taxes which are deductible on the business federal return thereby reducing the K-1 income pass through to owners. This enables SALT deduction which otherwise would not be deductible on 1040. All the rich people do it. Maryland and Virginia entity taxes are deductible through the method on LLCs/partnerships.

[Anonymous]

“It’s ridiculous the SALT cap is the same for single and married, whether you think it’s a good idea in general or not.“

Completely disagree. The code already screws single parents - we pay a higher tax rate at the same income as married people, even if we need to spend essentially the same amount of money to maintain a home in a decent neighborhood that has good schools for our kids. Plus, we only get half the amount of our home value protected from taxes - $250k vs $500k - even though again we need to spend close to the same amount as a married couple to maintain a home.

[Anonymous]

OP, Nobody feels bad for people making $225k whining about the SALT cap.