California deserves Trump’s tax plan. It’s been passing the fiscal buck for years

[shockedcanadian]

An interesting analysis of this issue. We have our own California in Canada, it's called Ontario. This is why Canada is refusing to agree to an even 1:1 in dollars of public contracts between nations, they have always relied on America to subsidize our neo-communism, now that you won't, we are screwed.

Anyways, a concise article on the issue in Cali:

California deserves Trump’s tax plan. It’s been passing the fiscal buck for years

Californians are panicking over President Donald Trump’s tax cut plan.

They have a reason to be worried: One of the central features of the plan is that taxpayers will have to choose between a property tax deduction or a state and local tax deduction, with a $10,000 limit in either case.

In a state with a top marginal tax rate of 13.3 percent, which kicks in at $1 million, that’s a massive hit – it could mean paying well in excess of 50 percent of marginal income. Overall, California was by far the lead recipient of state and local tax deductions in 2014, with residents filing for more than $101 billion in such deductions; the second-place finisher, New York, clocked in at just $68 billion. Furthermore, the Trump tax plan would cap mortgage loan deductions at $750,000, which in an inflated real estate market like California, smacks a serious number of homeowners.

 

[miketx]

Cali is dying like I have said, and the libtarded denial continues. They deserve it.

 

[shockedcanadian]

Cali is dying like I have said, and the libtarded denial continues. They deserve it.

Have a heart, why so mean?

The problem with socialism is that well meaning people (well SOME well meaning people, some just looking for a free ride) don't understand the unintended consequences of their decisions. It's the public that needs to be educated, if they were in my estimation, they would choose fiscally responsible leaders who pushed for expansive liberty economically and in human terms.

As the saying goes, if you want to feed a man don't just give him the fish, teach him to fish. Socialism creates complacency and corruption.

 

[william the wie]

The Blue states will create trillions in GDP growth in the Red states as they flee taxes. The red states will export their poor to the high benefit states. This is a goodness thing.

 

[shockedcanadian]

The Blue states will create trillions in GDP growth in the Red states as they flee taxes. The red states will export their poor to the high benefit states. This is a goodness thing.

Probably. Except the poor won't move. The poor aren't as mobile. It will be an exodus of wealth as in the Detroit scenario.

 

[william the wie]

$50,000 each for MH owners in trailer parks and such has been part of FL since at least the 1920s. We know how to turf out the poor.