Reply to The increase in SALT caps is so ridiculous

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Reply to "The increase in SALT caps is so ridiculous"

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[quote=Anonymous][quote=Anonymous]It is a big boom for retirees over 65 in high tax areas such as MoCo, Nassau County NY, NYC, Bergan County NJ, Chicago IL and California.

It also included added deduction over 65 and folks who actually did save in their 401ks were getting killed on taxes on RMDs.

It also now allows property taxes to be deducted again with higher limit. Old folks often had a primary house and a little beach condo or second home both mortgage free and could not deduct property taxes. Their RMDs, interest income and SS payments already made them hit 10K in state income.

[/quote]

This is exactly why the country is going to ruination and will be insolvent soon. Why are we subsidizing peoples' ownership over 2nd and 3rd homes?  Student loan forgiveness is outrageous, yet they want the entire country to help foot the tax bill of individuals' personal properties? Ridiculous.  There shouldn't be any SALT deductions, nor mortgage interest deductions. Pay your own bills. [/quote]

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