Under New Plan- 85% of Americans Will take Standard IRS Deduction

[Geaux4it]

so quit whining about your state and property tax being excluded from approved write-offs. States like Ca, NY etc, with high state taxes to pay for their liberal wasteful programs, can have at it. But the continued federal deduction for these policies should and likely will be eliminated

Smart policy is Mr Tumps tax plan

-Geaux

You keep hearing the left say that people need to pay their fair share, so the debt will go down, why should high taxed liberal states get to deduct their state and city taxes, just because of how high they are?

The debt can't go down until we have a balanced budget first. Heck, they can't even write a budget without deficit spending.

The new tax bill doesn't affect me so I won't comment on that other than to say non-deductible state and local taxes are not going to save us.

yeah the tax "reform" just adds to the debt, and they'll increase defense spending even while cutting spending for terrorism defense.

All good reasons to raise the debt

-Geaux

 

[OnePercenter]

so quit whining about your state and property tax being excluded from approved write-offs. States like Ca, NY etc, with high state taxes to pay for their liberal wasteful programs, can have at it. But the continued federal deduction for these policies should and likely will be eliminated

Smart policy is Mr Tumps tax plan

-Geaux

Currently 65%+/- American taxpayers don't qualify for itemized deductions because they don't make enough money and Trump wants to raise that to 85%?

Because their exemptions exceed the 12.5K standard deduction. Once the SD is doubled, it will benefit 20% more Americans. That is why this is a great plan for middle class.

-Geaux

Yeah, that's going to happen....

 

[OnePercenter]

yeah the tax "reform" just adds to the debt, and they'll increase defense spending even while cutting spending for terrorism defense.

I'm sure there are plenty of places to cut waste, but then it's political battle. We don't need bureaucracies. We don't need to be funding the arts, NPR, Planned Parenthood or PBS. There is no reason one out of every eight Americans need to be fed by the federal taxpayers.

What about K-12 education?

That's locally funded for the most part.

Please list which States that receive no federal funds for K-12 education.

I don't have time to look up all that, and I'm sure there are some schools who do receive federal aid.......perhaps lower income areas, but I know where over half of my property taxes go to.

ALL taxed based services receive federal funds.

 

[busybee01]

It is wrong to force people to pay taxes on taxes. One of the reasons that they pay higher taxes is because they have higher per capita incomes. They should not be eliminated.

Who pays taxes on taxes?

That is what happens if you get rid of the deduction for state and local taxes.

 

[busybee01]

so quit whining about your state and property tax being excluded from approved write-offs. States like Ca, NY etc, with high state taxes to pay for their liberal wasteful programs, can have at it. But the continued federal deduction for these policies should and likely will be eliminated

Smart policy is Mr Tumps tax plan

-Geaux

Currently 65%+/- American taxpayers don't qualify for itemized deductions because they don't make enough money and Trump wants to raise that to 85%?

Because their exemptions exceed the 12.5K standard deduction. Once the SD is doubled, it will benefit 20% more Americans. That is why this is a great plan for middle class.

-Geaux

Not if you have a large family. If your family has 4 or more people then the new standard deduction will be less than the old standard deduction and personal exemptions.

 

[Dekster]

so quit whining about your state and property tax being excluded from approved write-offs. States like Ca, NY etc, with high state taxes to pay for their liberal wasteful programs, can have at it. But the continued federal deduction for these policies should and likely will be eliminated

Smart policy is Mr Tumps tax plan

-Geaux

You keep hearing the left say that people need to pay their fair share, so the debt will go down, why should high taxed liberal states get to deduct their state and city taxes, just because of how high they are?

Anyone from any State that pays State and local/city tax can deduct it from their federal return.

Shouldn't be! No way should you be able to deduct state and local taxes from your federal income tax. Are you telling me that states who finance themselves with MORE sales taxes that their citizens get screwed!

PAY YOUR FAIR SHARE! Just because someone decides to live in a dtate that hoses its people in State income tax, doesn't mean they should NOT be paying less into the fed.

Again------>if you are rich enough to live in a high taxing authority, do NOT bitch! Pay YOUR FAIR SHARE-)

You pay the property taxes you pay whether you can deduct them or not. What this deduction does is allow those high tax blue states to get off the books welfare from Uncle Sam. By being able to cut your federal taxes by say a grand, the state can then raise theirs by a grand and leave you in the same spot.

 

[BuckToothMoron]

so quit whining about your state and property tax being excluded from approved write-offs. States like Ca, NY etc, with high state taxes to pay for their liberal wasteful programs, can have at it. But the continued federal deduction for these policies should and likely will be eliminated

Smart policy is Mr Tumps tax plan

-Geaux

You keep hearing the left say that people need to pay their fair share, so the debt will go down, why should high taxed liberal states get to deduct their state and city taxes, just because of how high they are?

That’s an excellent point. Other states are paying their undue share of the federal taxes because California has circumvented the dollars of their tax payers by taxing it first. Under this system, it would be prudent for any state to raise taxes, keep the money in their state, and let low tax states pay a higher share of the federal tax.

 

[BuckToothMoron]

so quit whining about your state and property tax being excluded from approved write-offs. States like Ca, NY etc, with high state taxes to pay for their liberal wasteful programs, can have at it. But the continued federal deduction for these policies should and likely will be eliminated

Smart policy is Mr Tumps tax plan

-Geaux

You keep hearing the left say that people need to pay their fair share, so the debt will go down, why should high taxed liberal states get to deduct their state and city taxes, just because of how high they are?

The debt can't go down until we have a balanced budget first. Heck, they can't even write a budget without deficit spending.

The new tax bill doesn't affect me so I won't comment on that other than to say non-deductible state and local taxes are not going to save us.

Right you are. Until the ever growing entitlement spending is addressed, the deficit will rise. No way around it except hyper growth.

 

[BuckToothMoron]

so quit whining about your state and property tax being excluded from approved write-offs. States like Ca, NY etc, with high state taxes to pay for their liberal wasteful programs, can have at it. But the continued federal deduction for these policies should and likely will be eliminated

Smart policy is Mr Tumps tax plan

-Geaux

You keep hearing the left say that people need to pay their fair share, so the debt will go down, why should high taxed liberal states get to deduct their state and city taxes, just because of how high they are?

The debt can't go down until we have a balanced budget first. Heck, they can't even write a budget without deficit spending.

The new tax bill doesn't affect me so I won't comment on that other than to say non-deductible state and local taxes are not going to save us.

yeah the tax "reform" just adds to the debt, and they'll increase defense spending even while cutting spending for terrorism defense.

Defense spending is puny compared to entitlement spending.

 

[BuckToothMoron]

so quit whining about your state and property tax being excluded from approved write-offs. States like Ca, NY etc, with high state taxes to pay for their liberal wasteful programs, can have at it. But the continued federal deduction for these policies should and likely will be eliminated

Smart policy is Mr Tumps tax plan

-Geaux

You keep hearing the left say that people need to pay their fair share, so the debt will go down, why should high taxed liberal states get to deduct their state and city taxes, just because of how high they are?

The debt can't go down until we have a balanced budget first. Heck, they can't even write a budget without deficit spending.

The new tax bill doesn't affect me so I won't comment on that other than to say non-deductible state and local taxes are not going to save us.

yeah the tax "reform" just adds to the debt, and they'll increase defense spending even while cutting spending for terrorism defense.

I'm sure there are plenty of places to cut waste, but then it's political battle. We don't need bureaucracies. We don't need to be funding the arts, NPR, Planned Parenthood or PBS. There is no reason one out of every eight Americans need to be fed by the federal taxpayers.

I'm not arguing, but to address deficits, they gotta address soc sec, medicare AND defense. And Trump is not going there. Say what you will about Obama, but he was willing to address all three. So was Mitt, or at least the first two.

How do Obama address social security? And he expanded Medicaid under BOcare. The defense is a small part compared to entitlement spending.

 

[BuckToothMoron]

You keep hearing the left say that people need to pay their fair share, so the debt will go down, why should high taxed liberal states get to deduct their state and city taxes, just because of how high they are?

The debt can't go down until we have a balanced budget first. Heck, they can't even write a budget without deficit spending.

The new tax bill doesn't affect me so I won't comment on that other than to say non-deductible state and local taxes are not going to save us.

yeah the tax "reform" just adds to the debt, and they'll increase defense spending even while cutting spending for terrorism defense.

I'm sure there are plenty of places to cut waste, but then it's political battle. We don't need bureaucracies. We don't need to be funding the arts, NPR, Planned Parenthood or PBS. There is no reason one out of every eight Americans need to be fed by the federal taxpayers.

I'm not arguing, but to address deficits, they gotta address soc sec, medicare AND defense. And Trump is not going there. Say what you will about Obama, but he was willing to address all three. So was Mitt, or at least the first two.

Oh please. Under DumBama, he took our debt from 10 trillion to 20 trillion in eight years. He had no intent on lowering the debt or deficit.

If people want to keep SS and Medicare, we have to fund the programs simple as that. When was the last time they increased deductions for either? I don't know either, but what I do know is that no bank stays open for very long when people deposit $500.00 checks and withdraw $600.00. While medical costs have skyrocketed, we have not funded those increased costs.

Well they sorta funded it by the associated tax of BOcare.

 

[edthecynic]

Under New Plan- 85% of Americans Will take Standard IRS Deduction

Smart policy is Mr Tumps tax plan

-Geaux

Not really, only 30% itemized their deductions in 2016 and every number Tramp gives is always at lease grossly exaggerated if not an out and out lie.

 

[BuckToothMoron]

It is wrong to force people to pay taxes on taxes. One of the reasons that they pay higher taxes is because they have higher per capita incomes. They should not be eliminated.

You’re not paying taxes on taxes. You are losing a deduction from your Federal taxes. It’s similar to the mortgage interest deduction. The state tax deduction is a love child among the states with high income tax rates, and those states will likely feel pressure from their resident tax payers to lower the state tax rate if the deduction goes away.

 

[BuckToothMoron]

so quit whining about your state and property tax being excluded from approved write-offs. States like Ca, NY etc, with high state taxes to pay for their liberal wasteful programs, can have at it. But the continued federal deduction for these policies should and likely will be eliminated

Smart policy is Mr Tumps tax plan

-Geaux

You keep hearing the left say that people need to pay their fair share, so the debt will go down, why should high taxed liberal states get to deduct their state and city taxes, just because of how high they are?

Anyone from any State that pays State and local/city tax can deduct it from their federal return.

That’s true, but it misses Geaux’s point. People who pay larger state taxes get a bigger federal deduction. The deduction is not uniform between the states, because state tax rates are not uniform.

 

[BuckToothMoron]

so quit whining about your state and property tax being excluded from approved write-offs. States like Ca, NY etc, with high state taxes to pay for their liberal wasteful programs, can have at it. But the continued federal deduction for these policies should and likely will be eliminated

Smart policy is Mr Tumps tax plan

-Geaux

You keep hearing the left say that people need to pay their fair share, so the debt will go down, why should high taxed liberal states get to deduct their state and city taxes, just because of how high they are?

The debt can't go down until we have a balanced budget first. Heck, they can't even write a budget without deficit spending.

The new tax bill doesn't affect me so I won't comment on that other than to say non-deductible state and local taxes are not going to save us.

yeah the tax "reform" just adds to the debt, and they'll increase defense spending even while cutting spending for terrorism defense.

I'm sure there are plenty of places to cut waste, but then it's political battle. We don't need bureaucracies. We don't need to be funding the arts, NPR, Planned Parenthood or PBS. There is no reason one out of every eight Americans need to be fed by the federal taxpayers.

What about K-12 education?

That’s is a State issue, or at least should be.

 

[edthecynic]

That’s true, but it misses Geaux’s point. People who pay larger state taxes get a bigger federal deduction. The deduction is not uniform between the states, because state tax rates are not uniform.

Even so, they will STILL be double taxed under Tramp. They will be taxed on the money they already paid in state and local taxes.

 

[KissMy]

The debt can't go down until we have a balanced budget first. Heck, they can't even write a budget without deficit spending.

The new tax bill doesn't affect me so I won't comment on that other than to say non-deductible state and local taxes are not going to save us.

You have a simple weak mind. Tax bills affect everyone. In a fiat currency system, there is no such thing as a tax cut, only spending cuts reduce the burden. Increasing deficit spending taxes us with inflation. It transfers wealth from workers to owners. Pay & benefits fall behind inflation as asset values of the wealthy soar.

 

[EverCurious]

yeah the tax "reform" just adds to the debt, and they'll increase defense spending even while cutting spending for terrorism defense.

I'm sure there are plenty of places to cut waste, but then it's political battle. We don't need bureaucracies. We don't need to be funding the arts, NPR, Planned Parenthood or PBS. There is no reason one out of every eight Americans need to be fed by the federal taxpayers.

I'm not arguing, but to address deficits, they gotta address soc sec, medicare AND defense. And Trump is not going there. Say what you will about Obama, but he was willing to address all three. So was Mitt, or at least the first two.

Oh please. Under DumBama, he took our debt from 10 trillion to 20 trillion in eight years. He had no intent on lowering the debt or deficit.

If people want to keep SS and Medicare, we have to fund the programs simple as that. When was the last time they increased deductions for either? I don't know either, but what I do know is that no bank stays open for very long when people deposit $500.00 checks and withdraw $600.00. While medical costs have skyrocketed, we have not funded those increased costs.

The reason for medical costs skyrocketing?

Lawyers.

#RepealEMTALA

 

[Ray From Cleveland]

The debt can't go down until we have a balanced budget first. Heck, they can't even write a budget without deficit spending.

The new tax bill doesn't affect me so I won't comment on that other than to say non-deductible state and local taxes are not going to save us.

yeah the tax "reform" just adds to the debt, and they'll increase defense spending even while cutting spending for terrorism defense.

I'm sure there are plenty of places to cut waste, but then it's political battle. We don't need bureaucracies. We don't need to be funding the arts, NPR, Planned Parenthood or PBS. There is no reason one out of every eight Americans need to be fed by the federal taxpayers.

I'm not arguing, but to address deficits, they gotta address soc sec, medicare AND defense. And Trump is not going there. Say what you will about Obama, but he was willing to address all three. So was Mitt, or at least the first two.

Oh please. Under DumBama, he took our debt from 10 trillion to 20 trillion in eight years. He had no intent on lowering the debt or deficit.

If people want to keep SS and Medicare, we have to fund the programs simple as that. When was the last time they increased deductions for either? I don't know either, but what I do know is that no bank stays open for very long when people deposit $500.00 checks and withdraw $600.00. While medical costs have skyrocketed, we have not funded those increased costs.

Well they sorta funded it by the associated tax of BOcare.

If anything, Commie Care took money out of Medicare.

 

[Ray From Cleveland]

I'm sure there are plenty of places to cut waste, but then it's political battle. We don't need bureaucracies. We don't need to be funding the arts, NPR, Planned Parenthood or PBS. There is no reason one out of every eight Americans need to be fed by the federal taxpayers.

What about K-12 education?

That's locally funded for the most part.

Please list which States that receive no federal funds for K-12 education.

I don't have time to look up all that, and I'm sure there are some schools who do receive federal aid.......perhaps lower income areas, but I know where over half of my property taxes go to.

ALL taxed based services receive federal funds.

No, not all, and only for federal funding like school vouchers or free and discounted lunch.