How big will the tax Flight between now and 2020 be?

[william the wie]

And what effects will have it on the election?

 

[BluesLegend]

It will be minimal in numbers. Trump's awesome tax reform bill had no effect on the vast majority of Americans because the SALT cap was offset by a whopping $24k standard deduction for married couples. A couple has to be earning upwards of $180k before the SALT cap hurts them financially.

Now those earning $200k - $500k yeah they may flee high tax blue states.

 

[BluesLegend]

Did you know that over 90% of Americans will now file short form and take the standard deduction vs itemizing thanks to Trump's historic tax reform bill? Good job Trump!

 

[Toddsterpatriot]

And what effects will have it on the election?

Meh.

 

[william the wie]

Did you know that over 90% of Americans will now file short form and take the standard deduction vs itemizing thanks to Trump's historic tax reform bill? Good job Trump!

While true the blue state net pay in tax bases are effectively the $200,000 annual income and up households. Lower than that and subsidies usually kick in to reduce the effective SALT. One big fish moving out can destroy the state budget, it happened in NJ @ the 2016 election prior to the tax bill passing.

 

[danielpalos]

The left should be advocating for increasing taxes by increasing the minimum wage.

With a higher minimum wage, more people will Want to work, and be more able to afford it.

 

[Oddball]

Did you know that over 90% of Americans will now file short form and take the standard deduction vs itemizing thanks to Trump's historic tax reform bill? Good job Trump!

The main problem isn't federal taxes....It's confiscatory taxes and preposterous regulations at the stat level that send people flocking out of them.

 

[BluesLegend]

Did you know that over 90% of Americans will now file short form and take the standard deduction vs itemizing thanks to Trump's historic tax reform bill? Good job Trump!

The main problem isn't federal taxes....It's confiscatory taxes and preposterous regulations at the stat level that send people flocking out of them.

Mark my words blue states in debt up to their eyeballs will be begging the Federal government for a bailout. This means the other states who have their fiscal house in order will end up paying off California's debt, Illinois debt, etc. California already tried getting bailed out by Obama right after he won. States like California are banking on being too big to fail and forcing the other states to pay off their debt.

 

[william the wie]

Did you know that over 90% of Americans will now file short form and take the standard deduction vs itemizing thanks to Trump's historic tax reform bill? Good job Trump!

The main problem isn't federal taxes....It's confiscatory taxes and preposterous regulations at the stat level that send people flocking out of them.

True but debt roll over failure will come as a surprise and blue states have very strong bond covenants and the lenders have statute and takings clause protection. NY IL, CA and other blue states have the proven energy resources to pay off the debt so "Drill Baby Drill" is coming to a blue state near you.