Bahahahaa! Trump's screws homeowners over - Wall Street Journal

[WaitingFor2020]

See folks, you really DID want to know what was in that tax bill before it passed.


Homeowners Rush to Prepay 2018 Property-Tax Bills
Filers line up at municipal offices before the GOP law kicks in; ‘It’s been insane here’
By
David Harrison and

Jennifer Levitz
Updated Dec. 26, 2017 7:57 p.m. ET

Homeowners across the nation are rushing this week to prepay their property taxes for 2018 before the Republican tax law kicks in Jan. 1 and effectively raises the levy on higher-end homes.

The new legislation, which President Donald Trump signed into law last week, caps at $10,000 the amount of state and local taxes that filers can deduct from their federal tax bill. That means those whose tax bills regularly exceed that amount could benefit by paying more tax in 2017, when the deduction has no limit."""""

Homeowners Rush to Prepay 2018 Property-Tax Bills

 

[WaitingFor2020]

Friend of mine who lives in NY said Trump's tax reform raised his property taxes $4000.

 

[mamooth]

That $10K cap on state and local tax deductions is also devastating to small businesses. It's as if the Republicans all brainstormed "what would kill jobs most effectively?", and them implemented the idea.

 

[WaitingFor2020]

By the time all the chips fall from this "tax cut" for the middle class, it's either going to be a zero-sum scam or less money at the end of the month, every month.

 

[Norman]

What, high end home owners need to pay more?

I thought this bill was supposed to transfer all the wealth to the rich.

 

[Papageorgio]

This is confusing, I have a nice home, my property tax doesn’t exceed $10,000. I guess I’m not rich enough...wait!! I thought the bill only helped the rich and yet they will pay more? Hmmmm....looks like the media lied to us.


Sent from my iPhone using Tapatalk

 

[Soggy in NOLA]

Friend of mine who lives in NY said Trump's tax reform raised his property taxes $4000.

Your friend is full of shit... property taxes are a local matter.

 

[TNHarley]

Friend of mine who lives in NY said Trump's tax reform raised his property taxes $4000.

Trump didnt raise property taxes, you fucking idiot.
He lowered a deduction. Sorry your rich friend will have to pay his fair share

 

[TNHarley]

Now the lefties love the rich

 

[WaitingFor2020]

That $10K cap on state and local tax deductions is also devastating to small businesses. It's as if the Republicans all brainstormed "what would kill jobs most effectively?", and them implemented the idea.

The bill was rushed through because the most important thing for Trump was a "win" for his first year, besides appointing a pointy-headed ultra-conservative, anti-individual rights justice to the Supreme Court.

Reagan's tax reform bill took two years to get through Congress. Trump's took two weeks. That's why there's going to be A LOT of shit like this.
The Trump tax cuts fall far short of Ronald Reagan’s reforms
https://www.economist.com/blogs/graphicdetail/2017/11/daily-chart-13

 

[EvilCat Breath]

If you are unhappy with state and local deductions, complain to your state. Force the state to lower your taxes.

 

[WaitingFor2020]

Friend of mine who lives in NY said Trump's tax reform raised his property taxes $4000.

Trump didnt raise property taxes, you fucking idiot.
He lowered a deduction. Sorry your rich friend will have to pay his fair share

He was already paying $22K a year. He pays more in property taxes than you make cleaning toilets in a whole year.
Read the article before you make yourself look even stupider.

 

[danielpalos]

See folks, you really DID want to know what was in that tax bill before it passed.


Homeowners Rush to Prepay 2018 Property-Tax Bills
Filers line up at municipal offices before the GOP law kicks in; ‘It’s been insane here’
By
David Harrison and

Jennifer Levitz
Updated Dec. 26, 2017 7:57 p.m. ET

Homeowners across the nation are rushing this week to prepay their property taxes for 2018 before the Republican tax law kicks in Jan. 1 and effectively raises the levy on higher-end homes.

The new legislation, which President Donald Trump signed into law last week, caps at $10,000 the amount of state and local taxes that filers can deduct from their federal tax bill. That means those whose tax bills regularly exceed that amount could benefit by paying more tax in 2017, when the deduction has no limit."""""

Homeowners Rush to Prepay 2018 Property-Tax Bills

Is now the time to consider bonuses, as well?

 

[EvilCat Breath]

Friend of mine who lives in NY said Trump's tax reform raised his property taxes $4000.

You know homeowners don't pay a federal property tax don't you?

 

[jc456]

That $10K cap on state and local tax deductions is also devastating to small businesses. It's as if the Republicans all brainstormed "what would kill jobs most effectively?", and them implemented the idea.

The bill was rushed through because the most important thing for Trump was a "win" for his first year, besides appointing a pointy-headed ultra-conservative, anti-individual rights justice to the Supreme Court.

Reagan's tax reform bill took two years to get through Congress. Trump's took two weeks. That's why there's going to be A LOT of shit like this.
The Trump tax cuts fall far short of Ronald Reagan’s reforms
https://www.economist.com/blogs/graphicdetail/2017/11/daily-chart-13

so you're admitting the rich will pay more in taxes right? That is what the president said right?

 

[jc456]

Friend of mine who lives in NY said Trump's tax reform raised his property taxes $4000.

Trump didnt raise property taxes, you fucking idiot.
He lowered a deduction. Sorry your rich friend will have to pay his fair share

He was already paying $22K a year. He pays more in property taxes than you make cleaning toilets in a whole year.
Read the article before you make yourself look even stupider.

so the rich have to pay more in taxes right? isn't that what trump said? you called him a liar. looks like that liar is actually you! spin. weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee

 

[jc456]

See folks, you really DID want to know what was in that tax bill before it passed.


Homeowners Rush to Prepay 2018 Property-Tax Bills
Filers line up at municipal offices before the GOP law kicks in; ‘It’s been insane here’
By
David Harrison and

Jennifer Levitz
Updated Dec. 26, 2017 7:57 p.m. ET

Homeowners across the nation are rushing this week to prepay their property taxes for 2018 before the Republican tax law kicks in Jan. 1 and effectively raises the levy on higher-end homes.

The new legislation, which President Donald Trump signed into law last week, caps at $10,000 the amount of state and local taxes that filers can deduct from their federal tax bill. That means those whose tax bills regularly exceed that amount could benefit by paying more tax in 2017, when the deduction has no limit."""""

Homeowners Rush to Prepay 2018 Property-Tax Bills

Is now the time to consider bonuses, as well?

you obviously never got a bonus before. LOL too funny roll on the floor. hly fk.

 

[TNHarley]

Friend of mine who lives in NY said Trump's tax reform raised his property taxes $4000.

Trump didnt raise property taxes, you fucking idiot.
He lowered a deduction. Sorry your rich friend will have to pay his fair share

He was already paying $22K a year. He pays more in property taxes than you make cleaning toilets in a whole year.
Read the article before you make yourself look even stupider.

He needs to pay his fair share. He voted for those high property tax rates. If he didnt vote for LWNJs, he should move..

 

[boedicca]

That $10K cap on state and local tax deductions is also devastating to small businesses. It's as if the Republicans all brainstormed "what would kill jobs most effectively?", and them implemented the idea.

You are confusing individual and business taxes.

The individual exemption has increased and the rates were lowered. For the vast majority of working people, the combined impact will be either tax neutral or a reduction in federal taxes.

I would have preferred a straight 15% tax rate on all income above a poverty level ceiling, and the elimination of SS and Medicare taxes - with no deductions or exemptions at all.

 

[Aldo Raine]

That $10K cap on state and local tax deductions is also devastating to small businesses. It's as if the Republicans all brainstormed "what would kill jobs most effectively?", and them implemented the idea.

You are confusing individual and business taxes.

The individual exemption has increased and the rates were lowered. For the vast majority of working people, the combined impact will be either tax neutral or a reduction in federal taxes.

I would have preferred a straight 15% tax rate on all income above a poverty level ceiling, and the elimination of SS and Medicare taxes - with no deductions or exemptions at all.

Agreed, but have not looked into the part about no SS and Medicare part though