Why should the Feds subsidize state taxes?

[OnePercenter]

#2. Some jobs wear people out at younger age like age 55-60 for many. Why should GOVT retire at 55? 50? But a truck driver work to 67? hips blown out, headaches, eyes, strength gone. You want more? Let the workers/doctors decide when it is enough.

#3. Preposterous. double taxation.

Correct. When we hear of increasing the age to collect, it's usually by some guy with a microphone in front of him and the most he lifts at work is four pounds.

Try making a roofer work until the age of 67. Try making a construction laborer work until that age. Do you want to see an iron worker walking on those beams 20 stories high at 66 years old?

As you mentioned, even my career has to be considered. When my trailer is loaded, I'm piloting a 75,000 lbs vehicle on the road right behind you. When traffic comes to a sudden stop in a snow storm, do you want to be the in the car in front of me when I have to slam on the brakes and control that vehicle to a stop at 67?

It is up to you to plan for your own retirement
If you can't work into your 60s you need to plan an alternate profession or maximize your savings in a 401k to retire early

So in other words, government fails us again and we have to find alternatives.

Not many people realize what shape they are going to be in their 60's until something happens which is usually later in life. If I could have taken all the SS money me and my employers contributed since I stated working, had that in a conservative IRA instead of giving it to government to handle, I'd probably be retired right now.

Really?

The Recession Hurt Americans' Retirement Accounts More Than Anybody Knew

Yes.......really.

The company that handles our IRA accounts continued to take our contributions, but stopped buying shares. They held on to all that money until the bottom was reached and the market showed signs of recovery. When they dumped all that money in, it was like getting a 2 for 1 sale. The prices were down and the investment company bought tons of shares for their customers. When the market nearly totally recovered, our IRA accounts were in much better shape than before the recession.

What happened to the orginal shares?

 

[Ray From Cleveland]

Correct. When we hear of increasing the age to collect, it's usually by some guy with a microphone in front of him and the most he lifts at work is four pounds.

Try making a roofer work until the age of 67. Try making a construction laborer work until that age. Do you want to see an iron worker walking on those beams 20 stories high at 66 years old?

As you mentioned, even my career has to be considered. When my trailer is loaded, I'm piloting a 75,000 lbs vehicle on the road right behind you. When traffic comes to a sudden stop in a snow storm, do you want to be the in the car in front of me when I have to slam on the brakes and control that vehicle to a stop at 67?

It is up to you to plan for your own retirement
If you can't work into your 60s you need to plan an alternate profession or maximize your savings in a 401k to retire early

So in other words, government fails us again and we have to find alternatives.

Not many people realize what shape they are going to be in their 60's until something happens which is usually later in life. If I could have taken all the SS money me and my employers contributed since I stated working, had that in a conservative IRA instead of giving it to government to handle, I'd probably be retired right now.

Really?

The Recession Hurt Americans' Retirement Accounts More Than Anybody Knew

Yes.......really.

The company that handles our IRA accounts continued to take our contributions, but stopped buying shares. They held on to all that money until the bottom was reached and the market showed signs of recovery. When they dumped all that money in, it was like getting a 2 for 1 sale. The prices were down and the investment company bought tons of shares for their customers. When the market nearly totally recovered, our IRA accounts were in much better shape than before the recession.

What happened to the orginal shares?

They lost money and then regained the losses. The stock market didn't totally crash. Even if your $15.00 shares went to $1.00, you still have the same amount of shares, just worth less. But an experienced investment company knows that the market will always bounce back. It's all a matter of timing and not getting too paranoid and selling everything at a loss.

 

[Ray From Cleveland]

The Government will let you work into your nineties

Not in my profession they won't. They are making it harder and harder every year. All truck drivers must have a government medical card to work. If you can't get that medical card, then you are out of work.

It's one of the reasons I hate bureaucracies so much. I was hoping the Donald would wipe as many of them out as he could. Unfortunately, he only talked about it and no action thus far, although I realize he has more important things on his mind.

If it were up to me, there would be no bureaucracies to ruin people's lives. They would all be closed down and all decisions of government would be made by the representatives the way the founders wanted.

Your stating that's it's better to let people with significant medical issues behind the wheel of a 80k or more truck?

Can't these folks drive intrastate?

Some can and some can't. There are two programs: one is state run and the other is federally run. I don't go over the road so I'm only familiar with the state program. It was fine when the state ran it, but now the feds want to run it and it's getting too difficult to pass the exam.

Before, your doctor did the physical if you had medical conditions and your doctor who treats you would provide the medical certificate. When the feds interfered, they demanded that only a federal government doctor can give you the medical certificate. The problem with that is a government doctor doesn't treat your condition, so he has no way of knowing how your condition has progressed.

So what the idiotic government expects is a guy who didn't follow your condition to allow you to drive. And of course, most doctors don't want to get involved with that. Not knowing who they are certifying is risk for them. So most don't want to do it.

I found one guy out of the hundreds that I called willing to help me out, but even he is cautious and makes new requirements all the time. I can't blame the guy, it's his reputation and liability that's at stake. He's doing me a favor, but he keeps making it harder to pass every year.

I'm up for my physical next month, and if he decides not to pass me, I'm out of work. If the mother Fn government would just stay out of it, my treating doctor would sign me out because he knew I was completely safe to drive because he has been treating my condition for many years.

 

[rightwinger]

#2. Some jobs wear people out at younger age like age 55-60 for many. Why should GOVT retire at 55? 50? But a truck driver work to 67? hips blown out, headaches, eyes, strength gone. You want more? Let the workers/doctors decide when it is enough.

#3. Preposterous. double taxation.

Correct. When we hear of increasing the age to collect, it's usually by some guy with a microphone in front of him and the most he lifts at work is four pounds.

Try making a roofer work until the age of 67. Try making a construction laborer work until that age. Do you want to see an iron worker walking on those beams 20 stories high at 66 years old?

As you mentioned, even my career has to be considered. When my trailer is loaded, I'm piloting a 75,000 lbs vehicle on the road right behind you. When traffic comes to a sudden stop in a snow storm, do you want to be the in the car in front of me when I have to slam on the brakes and control that vehicle to a stop at 67?

It is up to you to plan for your own retirement
If you can't work into your 60s you need to plan an alternate profession or maximize your savings in a 401k to retire early

So in other words, government fails us again and we have to find alternatives.

Not many people realize what shape they are going to be in their 60's until something happens which is usually later in life. If I could have taken all the SS money me and my employers contributed since I stated working, had that in a conservative IRA instead of giving it to government to handle, I'd probably be retired right now.

Really?

The Recession Hurt Americans' Retirement Accounts More Than Anybody Knew

Yes.......really.

The company that handles our IRA accounts continued to take our contributions, but stopped buying shares. They held on to all that money until the bottom was reached and the market showed signs of recovery. When they dumped all that money in, it was like getting a 2 for 1 sale. The prices were down and the investment company bought tons of shares for their customers. When the market nearly totally recovered, our IRA accounts were in much better shape than before the recession.

Buy low, sell high

Not as easy as it seems

 

[Ray From Cleveland]

Correct. When we hear of increasing the age to collect, it's usually by some guy with a microphone in front of him and the most he lifts at work is four pounds.

Try making a roofer work until the age of 67. Try making a construction laborer work until that age. Do you want to see an iron worker walking on those beams 20 stories high at 66 years old?

As you mentioned, even my career has to be considered. When my trailer is loaded, I'm piloting a 75,000 lbs vehicle on the road right behind you. When traffic comes to a sudden stop in a snow storm, do you want to be the in the car in front of me when I have to slam on the brakes and control that vehicle to a stop at 67?

It is up to you to plan for your own retirement
If you can't work into your 60s you need to plan an alternate profession or maximize your savings in a 401k to retire early

So in other words, government fails us again and we have to find alternatives.

Not many people realize what shape they are going to be in their 60's until something happens which is usually later in life. If I could have taken all the SS money me and my employers contributed since I stated working, had that in a conservative IRA instead of giving it to government to handle, I'd probably be retired right now.

Really?

The Recession Hurt Americans' Retirement Accounts More Than Anybody Knew

Yes.......really.

The company that handles our IRA accounts continued to take our contributions, but stopped buying shares. They held on to all that money until the bottom was reached and the market showed signs of recovery. When they dumped all that money in, it was like getting a 2 for 1 sale. The prices were down and the investment company bought tons of shares for their customers. When the market nearly totally recovered, our IRA accounts were in much better shape than before the recession.

Buy low, sell high

Not as easy as it seems

Correct. That's why people lost money. It's hard to make real money. That's why I have respect for people like Trump and other wealthy people. They were able to do things most of us can't do.

 

[rightwinger]

It is up to you to plan for your own retirement
If you can't work into your 60s you need to plan an alternate profession or maximize your savings in a 401k to retire early

So in other words, government fails us again and we have to find alternatives.

Not many people realize what shape they are going to be in their 60's until something happens which is usually later in life. If I could have taken all the SS money me and my employers contributed since I stated working, had that in a conservative IRA instead of giving it to government to handle, I'd probably be retired right now.

Really?

The Recession Hurt Americans' Retirement Accounts More Than Anybody Knew

Yes.......really.

The company that handles our IRA accounts continued to take our contributions, but stopped buying shares. They held on to all that money until the bottom was reached and the market showed signs of recovery. When they dumped all that money in, it was like getting a 2 for 1 sale. The prices were down and the investment company bought tons of shares for their customers. When the market nearly totally recovered, our IRA accounts were in much better shape than before the recession.

Buy low, sell high

Not as easy as it seems

Correct. That's why people lost money. It's hard to make real money. That's why I have respect for people like Trump and other wealthy people. They were able to do things most of us can't do.

They play by a different set of rules than we do

 

[Ray From Cleveland]

So in other words, government fails us again and we have to find alternatives.

Not many people realize what shape they are going to be in their 60's until something happens which is usually later in life. If I could have taken all the SS money me and my employers contributed since I stated working, had that in a conservative IRA instead of giving it to government to handle, I'd probably be retired right now.

Really?

The Recession Hurt Americans' Retirement Accounts More Than Anybody Knew

Yes.......really.

The company that handles our IRA accounts continued to take our contributions, but stopped buying shares. They held on to all that money until the bottom was reached and the market showed signs of recovery. When they dumped all that money in, it was like getting a 2 for 1 sale. The prices were down and the investment company bought tons of shares for their customers. When the market nearly totally recovered, our IRA accounts were in much better shape than before the recession.

Buy low, sell high

Not as easy as it seems

Correct. That's why people lost money. It's hard to make real money. That's why I have respect for people like Trump and other wealthy people. They were able to do things most of us can't do.

They play by a different set of rules than we do

Sometimes, but most of it is heavily regulated by the government.

I spent several years in commodities. I loved it, but never got rich on it. I read books on people that made millions in a short time. Not only is it possible, but it happens all the time with commodities. So I respect the people that did things differently than I did. Some of it luck, most started out with more than I put in, but they found their dream. I admire that.

 

[bendog]

House Tax Writer Gives Ground on a State and Local Tax Break

Why don't people in shitholes like new yuck just demand the state stops stealing their shit? They should not be getting federal tax credit because their states steal so much from them. This is a bullshit "compromise" and I hope it can be followed up on when the democrooks lose a few more seats in 2018 and some republicrats seats get taken by some actual opposition to regressive nanny statist policy.

Why should inheretances be taxed twice?

 

[bendog]

1. Limit deductions for State taxes to be more fair to all states
2. Fix the entitlements, add a year to SS (dead 2037) retirement ages, and fix Medicare (dead 2028).
3. Keep the death tax
4. Keep the same tax rate for the top 10%
5. Cut corporate tax rate to 20% (or they leave and take good jobs with them)
6. Add a small border adjustment tax to pay for the tax cuts

#2. Some jobs wear people out at younger age like age 55-60 for many. Why should GOVT retire at 55? 50? But a truck driver work to 67? hips blown out, headaches, eyes, strength gone. You want more? Let the workers/doctors decide when it is enough.

#3. Preposterous. double taxation.

Well, there should be disability determinations.

 

[busybee01]

House Tax Writer Gives Ground on a State and Local Tax Break

Why don't people in shitholes like new yuck just demand the state stops stealing their shit? They should not be getting federal tax credit because their states steal so much from them. This is a bullshit "compromise" and I hope it can be followed up on when the democrooks lose a few more seats in 2018 and some republicrats seats get taken by some actual opposition to regressive nanny statist policy.

No one is subsidizing anyone. Allowing people to keep more of their money is not subsidizing anyone. You sound like a liberal. It is not the federal government's money. It is the people's money.

 

[busybee01]

House Tax Writer Gives Ground on a State and Local Tax Break

Why don't people in shitholes like new yuck just demand the state stops stealing their shit? They should not be getting federal tax credit because their states steal so much from them. This is a bullshit "compromise" and I hope it can be followed up on when the democrooks lose a few more seats in 2018 and some republicrats seats get taken by some actual opposition to regressive nanny statist policy.

Why should I be taxed twice on the same income

The money I pay to the state, I never see
Why should the federal government tax me on income the state took?

State taxes are state taxes and Federal taxes are Federal taxes, and they are based on "income" separately, then there are property taxes and state sales taxes and tax on gas, and excise taxes and taxes on TV and taxes on everything else, get it??

I am paying over 40 percent of my income in federal, state and local taxes
Why should the Fed Govt be taxing me on income that went to another level of government

Because A. It is a tax on income. B. You chose to live there, not our problem. C. Simplification is a must.

That is so much garbage. Worth noting that these high tax states also tend to have higher incomes per capita. People should not pay taxes on taxes and they have the right to live wherever they want.

 

[OnePercenter]

It is up to you to plan for your own retirement
If you can't work into your 60s you need to plan an alternate profession or maximize your savings in a 401k to retire early

So in other words, government fails us again and we have to find alternatives.

Not many people realize what shape they are going to be in their 60's until something happens which is usually later in life. If I could have taken all the SS money me and my employers contributed since I stated working, had that in a conservative IRA instead of giving it to government to handle, I'd probably be retired right now.

Really?

The Recession Hurt Americans' Retirement Accounts More Than Anybody Knew

Yes.......really.

The company that handles our IRA accounts continued to take our contributions, but stopped buying shares. They held on to all that money until the bottom was reached and the market showed signs of recovery. When they dumped all that money in, it was like getting a 2 for 1 sale. The prices were down and the investment company bought tons of shares for their customers. When the market nearly totally recovered, our IRA accounts were in much better shape than before the recession.

What happened to the orginal shares?

They lost money and then regained the losses. The stock market didn't totally crash. Even if your $15.00 shares went to $1.00, you still have the same amount of shares, just worth less. But an experienced investment company knows that the market will always bounce back. It's all a matter of timing and not getting too paranoid and selling everything at a loss.

As I've explained to you before the lost IRA retirement was over $2 Trillion, it would be decades before an individual will be able to become totally solvent.

 

[OnePercenter]

It is up to you to plan for your own retirement
If you can't work into your 60s you need to plan an alternate profession or maximize your savings in a 401k to retire early

So in other words, government fails us again and we have to find alternatives.

Not many people realize what shape they are going to be in their 60's until something happens which is usually later in life. If I could have taken all the SS money me and my employers contributed since I stated working, had that in a conservative IRA instead of giving it to government to handle, I'd probably be retired right now.

Really?

The Recession Hurt Americans' Retirement Accounts More Than Anybody Knew

Yes.......really.

The company that handles our IRA accounts continued to take our contributions, but stopped buying shares. They held on to all that money until the bottom was reached and the market showed signs of recovery. When they dumped all that money in, it was like getting a 2 for 1 sale. The prices were down and the investment company bought tons of shares for their customers. When the market nearly totally recovered, our IRA accounts were in much better shape than before the recession.

Buy low, sell high

Not as easy as it seems

Correct. That's why people lost money. It's hard to make real money. That's why I have respect for people like Trump and other wealthy people. They were able to do things most of us can't do.

It's easy to make real money AFTER your first million.

 

[SavannahMann]

House Tax Writer Gives Ground on a State and Local Tax Break

Why don't people in shitholes like new yuck just demand the state stops stealing their shit? They should not be getting federal tax credit because their states steal so much from them. This is a bullshit "compromise" and I hope it can be followed up on when the democrooks lose a few more seats in 2018 and some republicrats seats get taken by some actual opposition to regressive nanny statist policy.

Pfui. Nonsense.

I was just describing this situation to the wife, and I described it thus. The Democrats are idiots. The Republicans are morons.

Let’s say that the Federal Tax on my dollar is 30%. The state tax on my dollar is 30%. The county tax is 30%. The city tax is 30%. That would mean I’d have to pay $1.20 for every dollar I earned.

The state tax credit is a nod to the reality that you can’t tax anyone at more than 100%.

You mock New York, but let’s talk about Florida. No State Income tax. A high sales tax, but that is fine, since the residents don’t pay income tax right? But what happens if people don’t take vacations in Florida? Because let’s be honest, a fair percentage of the sales tax is paid by visitors to the state. Hotels in Miami are filled with tourists. Orlando exists solely to separate the aforementioned New Yorkers from their dollars. If you take the State Tax Credit out, then Florida loses some money too. Because those New Yorkers will have less to spend, and will take their vacations in smaller bites. Less money changing hands in Orlando, and Florida would face budget shortages. Oh dear, now Florida would need a State Income Tax.

The goal of any economic system is to keep money in motion. It is not to punish those who are political opponents.

 

[rightwinger]

Really?

The Recession Hurt Americans' Retirement Accounts More Than Anybody Knew

Yes.......really.

The company that handles our IRA accounts continued to take our contributions, but stopped buying shares. They held on to all that money until the bottom was reached and the market showed signs of recovery. When they dumped all that money in, it was like getting a 2 for 1 sale. The prices were down and the investment company bought tons of shares for their customers. When the market nearly totally recovered, our IRA accounts were in much better shape than before the recession.

Buy low, sell high

Not as easy as it seems

Correct. That's why people lost money. It's hard to make real money. That's why I have respect for people like Trump and other wealthy people. They were able to do things most of us can't do.

They play by a different set of rules than we do

Sometimes, but most of it is heavily regulated by the government.

I spent several years in commodities. I loved it, but never got rich on it. I read books on people that made millions in a short time. Not only is it possible, but it happens all the time with commodities. So I respect the people that did things differently than I did. Some of it luck, most started out with more than I put in, but they found their dream. I admire that.

They have a different set of rules on investing in commodities. You think it is pure luck ....they make their own luck

 

[martybegan]

House Tax Writer Gives Ground on a State and Local Tax Break

Why don't people in shitholes like new yuck just demand the state stops stealing their shit? They should not be getting federal tax credit because their states steal so much from them. This is a bullshit "compromise" and I hope it can be followed up on when the democrooks lose a few more seats in 2018 and some republicrats seats get taken by some actual opposition to regressive nanny statist policy.

Why should I be taxed twice on the same income

The money I pay to the state, I never see
Why should the federal government tax me on income the state took?

State taxes are state taxes and Federal taxes are Federal taxes, and they are based on "income" separately, then there are property taxes and state sales taxes and tax on gas, and excise taxes and taxes on TV and taxes on everything else, get it??

I am paying over 40 percent of my income in federal, state and local taxes
Why should the Fed Govt be taxing me on income that went to another level of government

What you should be asking is why does "overhead" take up so much of your income, not wondering why some of it may get double dipped.

It's like arguing over a leaking faucet in a Stateroom on the sinking Titanic.

 

[Votto]

House Tax Writer Gives Ground on a State and Local Tax Break

Why don't people in shitholes like new yuck just demand the state stops stealing their shit? They should not be getting federal tax credit because their states steal so much from them. This is a bullshit "compromise" and I hope it can be followed up on when the democrooks lose a few more seats in 2018 and some republicrats seats get taken by some actual opposition to regressive nanny statist policy.

The main role of the IRS is not to collect revenue. In fact, the Federal government routinely runs trillion dollar deficits. They could really care less about paying bills.

No, the main object of the IRS is to punish political opponents and reward their allies cuz money matters to everyone else cuz they can't just print it like they do in the basement of the Fed.

To prove my point, Obama had the IRS target conservative groups, something that was proven and something Obama apologized for and that was the end of it. He did it with impunity, so what? Case closed.

Today, Trump goes after the NFL who went after him with their national anthem protests that targeted him, and now he is targeting liberal in liberal tax states by taking away their ability to deduct their state taxes from Federal taxes.

Does Trump care about the revenue generated from both examples? Hell no, it's just business as usual in Washington and will continue.

My main concern is when the government finally gets full control of health care. They will no doubt use it like they do the IRS, so that triple bypass may not get approved depending upon your political leanings.

 

[rightwinger]

House Tax Writer Gives Ground on a State and Local Tax Break

Why don't people in shitholes like new yuck just demand the state stops stealing their shit? They should not be getting federal tax credit because their states steal so much from them. This is a bullshit "compromise" and I hope it can be followed up on when the democrooks lose a few more seats in 2018 and some republicrats seats get taken by some actual opposition to regressive nanny statist policy.

The main role of the IRS is not to collect revenue. In fact, the Federal government routinely runs trillion dollar deficits. They could really care less about paying bills.

No, the main object of the IRS is to punish political opponents and reward their allies cuz money matters to everyone else cuz they can't just print it like they do in the basement of the Fed.

To prove my point, Obama had the IRS target conservative groups, something that was proven and something Obama apologized for and that was the end of it. He did it with impunity, so what? Case closed.

Today, Trump goes after the NFL who went after him with their national anthem protests that targeted him, and now he is targeting liberal in liberal tax states by taking away their ability to deduct their state taxes from Federal taxes.

Does Trump care about the revenue generated from both examples? Hell no, it's just business as usual in Washington and will continue.

My main concern is when the government finally gets full control of health care. They will no doubt use it like they do the IRS, so that triple bypass may not get approved depending upon your political leanings.

What a stupid post

 

[Votto]

House Tax Writer Gives Ground on a State and Local Tax Break

Why don't people in shitholes like new yuck just demand the state stops stealing their shit? They should not be getting federal tax credit because their states steal so much from them. This is a bullshit "compromise" and I hope it can be followed up on when the democrooks lose a few more seats in 2018 and some republicrats seats get taken by some actual opposition to regressive nanny statist policy.

The main role of the IRS is not to collect revenue. In fact, the Federal government routinely runs trillion dollar deficits. They could really care less about paying bills.

No, the main object of the IRS is to punish political opponents and reward their allies cuz money matters to everyone else cuz they can't just print it like they do in the basement of the Fed.

To prove my point, Obama had the IRS target conservative groups, something that was proven and something Obama apologized for and that was the end of it. He did it with impunity, so what? Case closed.

Today, Trump goes after the NFL who went after him with their national anthem protests that targeted him, and now he is targeting liberal in liberal tax states by taking away their ability to deduct their state taxes from Federal taxes.

Does Trump care about the revenue generated from both examples? Hell no, it's just business as usual in Washington and will continue.

My main concern is when the government finally gets full control of health care. They will no doubt use it like they do the IRS, so that triple bypass may not get approved depending upon your political leanings.

What a stupid post

How is it wrong?

If you want tax perks, corporations better send in those "donations"

 

[Crixus]

House Tax Writer Gives Ground on a State and Local Tax Break

Why don't people in shitholes like new yuck just demand the state stops stealing their shit? They should not be getting federal tax credit because their states steal so much from them. This is a bullshit "compromise" and I hope it can be followed up on when the democrooks lose a few more seats in 2018 and some republicrats seats get taken by some actual opposition to regressive nanny statist policy.

Why should I be taxed twice on the same income

The money I pay to the state, I never see
Why should the federal government tax me on income the state took?

That’s an issue you need to take up with your state. Why should other tax payers have to deal with yalls bad voting habits?