Chris0nllyn
Well-Known Member
Where did you find that? I didn't see it....
In the PDF link above your post.
Where did you find that? I didn't see it....
In all fairness, I took a look at my last tax return and found if the doubling of the Standard Deduction comes true, the elimination of the "SALT" deduction wouldn't matter. I wouldn't have to itemize and could use the "short form" for filing taxes.
Why are we even now allowed to write off state taxes? I see it as just a money laundering game allowing states to use their citizens to syphon more money from the feds. California has a state tax rate pretty close to double that of the next highest tax rate state (NY). They get to suck in that dough all year long then when their citizens file taxes for the year allowing them to use what they paid out to the state the past year as a deduction is reimbursement on that tax burden from our federal coffers. Why wouldn't we want to remove it?
The only behavior I see is states knowing they can tax the hell out of their citizens because the fed will dump money back to those citizens to off set it. That means those of us paying federal taxes are paying for California's (and other states who tax income) budget choices. How is that leveling any playing field?We have deductions to encourage that behavior - mostly. The other reason is - whether you agree or not - to level the playing field so to speak.
The only behavior I see is states knowing they can tax the hell out of their citizens because the fed will dump money back to those citizens to off set it. That means those of us paying federal taxes are paying for California's (and other states who tax income) budget choices. How is that leveling any playing field?
But yet is subsidizing just the same. California elite is pretty vocal about wanting the rich to pay their fair share of taxes so I would think we will hear them rallying around this part of the new tax plan on tonight's entertainment news shows...A Californian is just as likely to say that since they average more fed dollars OUT than they get back - you're not subsidizing anything.
In the PDF link above your post.
I think the proposed elimination of the state and local income and property tax deduction will be a problem.
Also would not apply to the many (~70% of returns) that use the standard deduction instead of itemizing.Only for the states that have an income tax. Many do not. Those that do not would become more attractive in which to live by some amount per person.
I think the proposed elimination of the state and local income and property tax deduction will be a problem.
Also would not apply to the many (~70% of returns) that use the standard deduction instead of itemizing.Only for the states that have an income tax. Many do not. Those that do not would become more attractive in which to live by some amount per person.
The new GOP tax overhaul would strip illegal immigrants of the ability to claim several major tax credits, saving the government $23.1 billion over the next decade, according to the bill’s authors.
For years Republicans have complained that despite a general ban on taxpayer benefits flowing to illegal immigrants, the IRS has allowed them to collect the child tax credit, the American Opportunity Tax Credit and the Earned Income Tax Credit.
Efforts to shut down those claims have been tried in the House but have never cleared Congress.
But the new tax overhaul tries again, calling for taxpayers to have to submit work-eligible Social Security numbers in order to claim the credits.
http://www.washingtontimes.com/news/2017/nov/2/gops-tax-bill-cancels-23-billion-credits-illegals/
I do think however if we went to something VERY simple - like a straight consumption tax or a flat tax - there's be no need to even FILE.
I do think however if we went to something VERY simple - like a straight consumption tax or a flat tax - there's be no need to even FILE.
Although I am a proponent of flat tax as well, you have to consider this...
True, but the attraction would increase.
Why are we even now allowed to write off state taxes? I see it as just a money laundering game allowing states to use their citizens to syphon more money from the feds. California has a state tax rate pretty close to double that of the next highest tax rate state (NY). They get to suck in that dough all year long then when their citizens file taxes for the year allowing them to use what they paid out to the state the past year as a deduction is reimbursement on that tax burden from our federal coffers. Why wouldn't we want to remove it?
Not really. People aren't going to pick up and move because of state's tax rate. If that were true, FL would have the bulk of our population.
The new GOP tax overhaul would strip illegal immigrants of the ability to claim several major tax credits, saving the government $23.1 billion over the next decade, according to the bill’s authors.
For years Republicans have complained that despite a general ban on taxpayer benefits flowing to illegal immigrants, the IRS has allowed them to collect the child tax credit, the American Opportunity Tax Credit and the Earned Income Tax Credit.
Efforts to shut down those claims have been tried in the House but have never cleared Congress.
But the new tax overhaul tries again, calling for taxpayers to have to submit work-eligible Social Security numbers in order to claim the credits.
http://www.washingtontimes.com/news/2017/nov/2/gops-tax-bill-cancels-23-billion-credits-illegals/
I do think however if we went to something VERY simple - like a straight consumption tax or a flat tax - there's be no need to even FILE.
There is a segment of the population that would. Me.
What stops them is employment, business or family ties. When those things disappear, it's easy.
Consumption TAX ... everyone pays
drug dealers and welfare recipients
no taxes 'to file' no tax cheats