Do you think Trump's tax proposal will pass?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It looks like the conference process might result in some movement on the blue state tax increase/SALT deduction. Fingers crossed!
https://www.washingtontimes.com/news/2017/dec/6/pat-toomey-state-and-local-tax-deduction-changes-l/

And what other services will they have to cut to pay for that?

The amount that the upper middle class liberals are complaining about shows what hypocrites they are. These are people earning $300.000 and $400.000, quibbling over an extra few thousand dollars.

They didn't care when the middle class, earning significantly less, was hit with massive ObamaCare premiums. All I heard was the liberal elitists (who had good employer plans) scold me that I (earning $60k)!could afford the inflated prices since the poor are getting the free plans they need. Now all of a sudden they,care about the middle class. Hypocrites.

Nope, it's the people with a combined HHI of $150K to 250K that are complaining the most. $300-400K people will see a huge savings because the tax proposal removed the AMT.

$150-250K total HHI (i.e., two working parents) in a high cost place - like CA, DC or NY - is solidly middle class. My friends who are plumbers and electricians on Long Island easily make $130K. They are NOT rich.

My parents make $140k in Maryland. They will see a tax cut of between $4k and $5k, since the increased standard deduction is more than their itemiEd deductions would be, even with SALT. (They have paid off their mortgage.)

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It looks like the conference process might result in some movement on the blue state tax increase/SALT deduction. Fingers crossed!
https://www.washingtontimes.com/news/2017/dec/6/pat-toomey-state-and-local-tax-deduction-changes-l/

And what other services will they have to cut to pay for that?

The amount that the upper middle class liberals are complaining about shows what hypocrites they are. These are people earning $300.000 and $400.000, quibbling over an extra few thousand dollars.

They didn't care when the middle class, earning significantly less, was hit with massive ObamaCare premiums. All I heard was the liberal elitists (who had good employer plans) scold me that I (earning $60k)!could afford the inflated prices since the poor are getting the free plans they need. Now all of a sudden they,care about the middle class. Hypocrites.

I am paying massive premiums with no Obamacare discount. I care about everyone that’s why I wanted single payer.

Same here PP. We pay $3700 per MONTH in premiums. Self-employed, no ACA. It is a crippling nightmare. Not to be able to deduct this cost and not being able to deduct mortgage interest and not being able to deduct state and local tax will add $150 k to our tax bill. It will be devastating.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It looks like the conference process might result in some movement on the blue state tax increase/SALT deduction. Fingers crossed!
https://www.washingtontimes.com/news/2017/dec/6/pat-toomey-state-and-local-tax-deduction-changes-l/

I'm afraid they're going to water this down so much to make sure the upper-middle class in the tax-and-spend blue states don't go crazy that it will hardly be any different from what we have now.

You realize that Texas is one of the highest tax states in the nation right? They just charge it all through property tax. They plan on making property tax deductible but not state income taxes. They are quite literally targeting blue states with this elimination while still allowing property tax deductions. You had better watch out what you wish for because eventually Congress will flip and Democrats could target red states. The country didn't used to be like this but the right-wing media has created a whole generation of people with hate in their hearts.

I'm the pp that was talking about red state hypocrisy here. Let me add this:
One thing I learned when I was in Texas, when they say they want a "small government" what they really mean is "many weak governments with overlapping taxing authority". In other words, instead of the state government levying taxes and using that money to pay for services, they instead allow everyone under the sun to be a "government" that can tax. For those of you unfamiliar with the way Texas is run, this will be an eye opener and you'll instantly understand why they were going to allow 10k in property tax to be deducted. Make no mistake, removal of the state income tax deduction while leaving in property tax deductions is an attack on blue states.

Here are Texas tax districts (each of these is run by it's own small council/government with it's own tax authority):
State Sales Tax - 6.25%
Local sales tax - 2.00% (for a total sales tax of 8.25%)

county property tax
city Property Tax
Junior College Property Tax (in Austin - Austin Community College has the authority to impose it's own property tax on residents)
Primary school property tax (yes this is a separate property tax imposed by the local K-12 school system)
Hospital property tax (yes hospitals can levy property taxes)
Emergency Services property taxes (property taxes levied by fire/ambulance/etc)
Water services property taxes (Water control, flood control, utilities, conservation, reclamation, drainage, etc)
Development and improvement property taxes (to improve public infrastructure)

Gee, I wonder why they want to allow 10k in property taxes to be deductible?

[Anonymous]

Folks, let's be clear: we are already in the midst of a fiscal civil war. Politicians from Red states want to raid your tax funds and redistribute to their own citizens. They want Blue States to have to come begging to Congress to ask for their own money back. Of course, they will leave peanuts to us while generously directing pork back to their home states.

It's time to start organizing, pronto. Traitors like Comstock - who voted to screw her own constituents - need to be hammered out of office. The entire point of SALT is that the Federal government should not be responsible for funding every damn project in each individual state. States know what is best for their own infrastructure and education system.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It looks like the conference process might result in some movement on the blue state tax increase/SALT deduction. Fingers crossed!
https://www.washingtontimes.com/news/2017/dec/6/pat-toomey-state-and-local-tax-deduction-changes-l/

And what other services will they have to cut to pay for that?

The amount that the upper middle class liberals are complaining about shows what hypocrites they are. These are people earning $300.000 and $400.000, quibbling over an extra few thousand dollars.

They didn't care when the middle class, earning significantly less, was hit with massive ObamaCare premiums. All I heard was the liberal elitists (who had good employer plans) scold me that I (earning $60k)!could afford the inflated prices since the poor are getting the free plans they need. Now all of a sudden they,care about the middle class. Hypocrites.

Rs are the biggest hypocrites here. They put back $10K in property tax deductions because that also hits many red states, but not the local/state income tax because that hits mostly high tax blue states. However, as the ^PP mentioned, they might re-consider all this because.. wait for it... Rs in high tax blue states will also be hit.

Rs don't care about middle class either. Why do you think the biggest tax cuts are for the 1%er while the middle get a measly 3% tax cut. It's kind of pathetic to see how some people are so happy with crumbs. The way they are so eager for these crumbs reminds of N. Koreans who are so thankful to their "Dear Leader" when they get a few grains of rice more in their rations while the elite enjoy all kinds of meats and imported luxury items.

[Anonymous]

Anonymous wrote:Folks, let's be clear: we are already in the midst of a fiscal civil war. Politicians from Red states want to raid your tax funds and redistribute to their own citizens. They want Blue States to have to come begging to Congress to ask for their own money back. Of course, they will leave peanuts to us while generously directing pork back to their home states.

It's time to start organizing, pronto. Traitors like Comstock - who voted to screw her own constituents - need to be hammered out of office. The entire point of SALT is that the Federal government should not be responsible for funding every damn project in each individual state. States know what is best for their own infrastructure and education system.

I'd be happy to have states pay for everything for themselves, and the federal government reduce everyone's tax to 5% across the board. Remove all deductions and tax loopholes. Let the red states take care of themselves. It would be interesting to see what happens to the middle/lower income folks in red states. Some of the poorer red states get way more than they put in. What is it that Rs say... why should I pay for someone else's problem? Pull yourselves up by your own bootstraps.

This is the ultimate states' right, small government scenario. C'mon Rs, what say you?