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Reply to "Do you think Trump's tax proposal will pass?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]"Some measures are barely connected to the realm of taxation, such as the lifting of a 1954 ban on political activism by churches and the conferring of a new legal right for fetuses in the House bill — both on the wish list of the evangelical right." - NYT This is what you get when you vote Republican. [/quote] And people DID vote Republican, and these are things that represent their values. Not saying I agree with it (particularly the two examples you gave above), but they put people in office to represent them. Same thing with Democrats. The whole reason for lower-middle income paying more (the lower don't pay in) is the abolishment of the 10% bracket. Congress figured that by doubling the standard deduction, the lower-middles would make it back up (since the vast majority do take the standard). But there is a donut hole of those who do itemize, and by starting their taxes at [b]12% on the first $10,000, there's a shift upward. [/b] As for the upper-middles complaining that they can't deduct the mortgage on second homes, or the complete mortgage on their $1.5 million first home, suck it up. (As my liberal neighbors said to me when I complained about my obscene health premiums, "you can afford it.") My sympathies lie with the minority of ower-middles who will pay (slightly) more. [/quote] What are you writing about? The Senate brackets start at 10%. Yes there can be holes in who itemizes BUT itemized deductions are amounts one has supposedly spent. Explain to me how one has the resources to itemize 3500 charitable at 10-25k. I am wondering if some jurisdictions will cancel what many think are not necessary projects since people are more conscious now about SALT. Why can you get EITC with up o 3500 of dividend income? Tell me. Hey- some people pay 1000 a year privately for some services that others write off as part of property taxes. [/quote]
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