NightFox
Wildling
Unfortunately that's not really the case in high tax metro areas like NYC, LA, etc.., losing the SALT deduction can result in higher taxes for middle income wage earners.No one has answered the question. Where are the fiscal conservatives who whined all these years about the debt?
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"They're dead Jim"
....but beyond the "debt accumulation be damned attitude" of the GOP HoR Congress Critters, the Republican pom-pom waivers should be looking at the details of what the HoR is proposing.
1. The Top Bracket is staying @ 39.6% EXCEPT the house bill includes a surcharge on incomes over $1 million, which effectively creates a new top bracket of 45.6% .. that's right GOP'ers are proposing to raise taxes on the "job creators"...
2. With the proposed elimination of SALT and Medical Deductions, taxes are going to increase for some in the middle as well... that's right the GOP'ers are proposing to raise taxes on the "middle"
3. Apparently the elimination of the O'Care Individual Mandate would raise revenues except the Republicrats are worried that would lose support in the Senate... that's right, all those "We're going to Repeal O'Care" promises from the GOP'ers.. just bullshit, they won't even repeal the Individual Mandate when it'll help them hit their own tax "reform" deficit target.
Right now the GOP Congress critters are scrambling to find ways to raise additional revenue to hit the deficit target but apparently nobody over in "fiscal conservative, small government" land is looking for ways to solve the BIG fucking problem... SPENDING.
So the GOP "base" is getting a good fucking over by the unprincipled dickweeds they voted for, they're try to do all these things they told you they were against, with Republicans like these who needs Democrats?
"You been had, you been took, you been hoodwinked, bamboozled, led astray, run amok" -- Malcolm X
The majority of middle class won't be itemizing, so doing away with the SALT deductions won't matter to them, those deductions disproportionately advantage the wealthy.
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Not to mention the fact that it's idiotic for the federal government to tax income that the earner had to fork over to State and/or Local Government no matter what the income level of the person, classic case of double taxation.
If the Republicrats would just focus on spending reductions then they wouldn't have to resort to all these shenanigans that run counter to their stated principles to cut taxes and they wouldn't end up just shifting taxes into the future (i.e. accumulating debt). If they'd do that I'd have some respect for them but as it stands now they're functionally no different than the Democrats when it comes to confiscating other peoples money, Borrow&Spend-R, Tax&Spend-D, same shit, different logo.
The good news (that I read this morning) is that the GOP Congress Critters are getting pushed hard to repeal the Obama Don't Care Individual Mandate in the tax bill, so it's apparently still in play.