SALT Tax Deduction Increase

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It hilarious how liberals and Dems scream about the rich not paying enough taxes and about rampant wealth inequality, yet here they are, demanding the U.S. govt and the rest of the country help subsidize their expensive giant homes with tax deductions.

There should be $0 able to be deducted for owning a home. Why is it my responsibility to give you a tax break for owning a $1M home? Dems, walk the walk if you’re gonna talk the talk. Fork up the taxes since you are telling everyone else to pay more to combat wealth inequality.

I’m sorry you can’t afford to buy a home.

I’m sorry you’re a hypocrite. Taxes for thee, but not for me!

She probably pays more in taxes than you net.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It hilarious how liberals and Dems scream about the rich not paying enough taxes and about rampant wealth inequality, yet here they are, demanding the U.S. govt and the rest of the country help subsidize their expensive giant homes with tax deductions.

There should be $0 able to be deducted for owning a home. Why is it my responsibility to give you a tax break for owning a $1M home? Dems, walk the walk if you’re gonna talk the talk. Fork up the taxes since you are telling everyone else to pay more to combat wealth inequality.

I’m sorry you can’t afford to buy a home.

Eh. I’m a democrat and it is really becoming clear with the more money I make, that I am indeed being a pretty big hypocrite about my taxes in this way.

But I’ll always believe in the right to do whatever I want with my body and in the separation between church and state and that gays should be able to marry. That’s why I’ll always still be a democrat.

Welcome to being a libertarian.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It hilarious how liberals and Dems scream about the rich not paying enough taxes and about rampant wealth inequality, yet here they are, demanding the U.S. govt and the rest of the country help subsidize their expensive giant homes with tax deductions.

There should be $0 able to be deducted for owning a home. Why is it my responsibility to give you a tax break for owning a $1M home? Dems, walk the walk if you’re gonna talk the talk. Fork up the taxes since you are telling everyone else to pay more to combat wealth inequality.

I’m sorry you can’t afford to buy a home.

Eh. I’m a democrat and it is really becoming clear with the more money I make, that I am indeed being a pretty big hypocrite about my taxes in this way.

But I’ll always believe in the right to do whatever I want with my body and in the separation between church and state and that gays should be able to marry. That’s why I’ll always still be a democrat.

Welcome to being a libertarian.

I prefer that the federal reserve, FDIC, SEC, FDA, and USDA exist. I also appreciate the existence of social security and medicare, so not a libertarian

[Anonymous]

Anonymous wrote:

Anonymous wrote:What am I missing?

Standard deduction for married couples filing jointly is $27,700. Adding another $10K to current $10k is still below the standard deduction.

I guess the yay only applies if you are filing single/head of household.

Also, 2023 tax season is already here. Many of the tax softwares have already been coded to current tax laws. Why do they change tax laws so late in the game?

It helps if you are already itemizing. Fro example if you have $10k in current SALT deduction, $5k in charitable donations and $10k in mortgage interest you would be under the standard deductions dot just take that. But if SALT cap is raised to $20k you would be above and would itemize

Exactly- It would help many families in this area.