Democrats Claim that SALT Deduction Cap Is "Giveaway to the Rich"--Just Today!

[william the wie]

Republicans want to punish Blue States for providing services to their people

You think allowing your citizens to be over run by illegals and giving them free education and welfare over Americans is somehow providing a service to their people? My God you are insane.

Liberals are traitors, I'm telling you.

No. In order to be a traitor you have to be sane and smart enough to know what you are doing is wrong. Point to a liberal who meets both of those necessary conditions.

 

[rightwinger]

Republicans want to punish Blue States for providing services to their people

No, we wish to punish blue states because we don't like blue states and they are traitors.

Yup

 

[mikegriffith1]

The SALT cap is double taxation on money you never see

One, the death tax is double taxation, but you guys are good with that.

Two, corporations pay double taxation all the time. You think they get to deduct all of their local property taxes? There are all kinds of restrictions on the state and local taxes that they can deduct.

Three, the only people who are substantially affected by the $10K SALT cap are people who are in the fourth, fifth, and six tax brackets, people you guys have always defined as the "rich." Someone in the fourth bracket with a net income of $300K is not going to die if they have to pay an extra $20K in SALT. Instead of netting $300K, they'll net $280K. I'm sure they'll be fine.

Four, since when did you guys give a hoot about how much rich people pay in SALT? Capping the SALT deduction at $10K will bring in a hefty amount of extra revenue to the U.S. Treasury--estimates range from $300 billion to $1.1 trillion. You'd think you guys would be thrilled about the government getting more money from the rich.

 

[DOTR]

SALT is life or death for the democratic machine states.

The destruction of the Democrat Party grinds on.

 

[rightwinger]

The SALT cap is double taxation on money you never see

One, the death tax is double taxation, but you guys are good with that.

Two, corporations pay double taxation all the time. You think they get to deduct all of their local property taxes? There are all kinds of restrictions on the state and local taxes that they can deduct.

Three, the only people who are substantially affected by the $10K SALT cap are people who are in the fourth, fifth, and six tax brackets, people you guys have always defined as the "rich." Someone in the fourth bracket with a net income of $300K is not going to die if they have to pay an extra $20K in SALT. Instead of netting $300K, they'll net $280K. I'm sure they'll be fine.

Four, since when did you guys give a hoot about how much rich people pay in SALT? Capping the SALT deduction at $10K will bring in a hefty amount of extra revenue to the U.S. Treasury--estimates range from $300 billion to $1.1 trillion. You'd think you guys would be thrilled about the government getting more money from the rich.

Corporations pay taxes on their profits, they do not pay twice
Corporations get deductions in more areas than the average tax payer, and just got their tax rate cut nearly in half

 

[rightwinger]

The SALT cap is double taxation on money you never see

One, the death tax is double taxation, but you guys are good with that.

Two, corporations pay double taxation all the time. You think they get to deduct all of their local property taxes? There are all kinds of restrictions on the state and local taxes that they can deduct.

Three, the only people who are substantially affected by the $10K SALT cap are people who are in the fourth, fifth, and six tax brackets, people you guys have always defined as the "rich." Someone in the fourth bracket with a net income of $300K is not going to die if they have to pay an extra $20K in SALT. Instead of netting $300K, they'll net $280K. I'm sure they'll be fine.

Four, since when did you guys give a hoot about how much rich people pay in SALT? Capping the SALT deduction at $10K will bring in a hefty amount of extra revenue to the U.S. Treasury--estimates range from $300 billion to $1.1 trillion. You'd think you guys would be thrilled about the government getting more money from the rich.

Four, since when did you guys give a hoot about how much rich people pay in SALT? Capping the SALT deduction at $10K will bring in a hefty amount of extra revenue to the U.S. Treasury--estimates range from $300 billion to $1.1 trillion. You'd think you guys would be thrilled about the government getting more money from the rich.


People affected by the SALT cap are not wealthy
In west coast and northeast, real estate taxes above $7000 are common on typical sized homes. State taxes easily bring you over $10,000

 

[rightwinger]

The SALT cap is double taxation on money you never see

One, the death tax is double taxation, but you guys are good with that.

Two, corporations pay double taxation all the time. You think they get to deduct all of their local property taxes? There are all kinds of restrictions on the state and local taxes that they can deduct.

Three, the only people who are substantially affected by the $10K SALT cap are people who are in the fourth, fifth, and six tax brackets, people you guys have always defined as the "rich." Someone in the fourth bracket with a net income of $300K is not going to die if they have to pay an extra $20K in SALT. Instead of netting $300K, they'll net $280K. I'm sure they'll be fine.

Four, since when did you guys give a hoot about how much rich people pay in SALT? Capping the SALT deduction at $10K will bring in a hefty amount of extra revenue to the U.S. Treasury--estimates range from $300 billion to $1.1 trillion. You'd think you guys would be thrilled about the government getting more money from the rich.

Four, since when did you guys give a hoot about how much rich people pay in SALT? Capping the SALT deduction at $10K will bring in a hefty amount of extra revenue to the U.S. Treasury--estimates range from $300 billion to $1.1 trillion. You'd think you guys would be thrilled about the government getting more money from the rich.


People affected by the SALT cap are not wealthy
In west coast and northeast, real estate taxes above $7000 are common on typical sized homes. State taxes easily bring you over $10,000

 

[mikegriffith1]

The SALT cap is double taxation on money you never see

One, the death tax is double taxation, but you guys are good with that.

Two, corporations pay double taxation all the time. You think they get to deduct all of their local property taxes? There are all kinds of restrictions on the state and local taxes that they can deduct.

Three, the only people who are substantially affected by the $10K SALT cap are people who are in the fourth, fifth, and six tax brackets, people you guys have always defined as the "rich." Someone in the fourth bracket with a net income of $300K is not going to die if they have to pay an extra $20K in SALT. Instead of netting $300K, they'll net $280K. I'm sure they'll be fine.

Four, since when did you guys give a hoot about how much rich people pay in SALT? Capping the SALT deduction at $10K will bring in a hefty amount of extra revenue to the U.S. Treasury--estimates range from $300 billion to $1.1 trillion. You'd think you guys would be thrilled about the government getting more money from the rich.

Corporations pay taxes on their profits, they do not pay twice
Corporations get deductions in more areas than the average tax payer, and just got their tax rate cut nearly in half

Oh. My. Goodness. Okay. . . .

One, yes, corporations pay taxes on their profits, but they also have far more expenses than most people--far, far more. What expenses? Well, to start with, their employees' salaries! Plus, their employees' unemployment compensation fund contributions (employees pay nothing toward this), and half of their employees' payroll taxes. Additionally, they pay state business taxes and local property taxes on top of the state taxes on their owners' incomes, and property taxes for businesses are higher than they are for individual taxpayers.

Two, the corporate income tax rate is now 21%, which is, finally, on par with the average corporate income tax rate in Europe and Asia (18% to 21%). How many Americans pay an income tax rate of 21%? Hey? The vast majority of Americans pay an income tax rate of 15%, 12%, 10%, or 0%. And corporations do not get a "standard deduction" like individual taxpayers get.

Furthermore, when the Republicans cut the corporate income tax rate down to 21%, they also ended the loophole that allowed corporations to avoid U.S. corporate taxes by moving operations overseas. One reason that federal revenue is at record levels now is that American corporations with operations overseas either have to pay the 21% tax rate or move their operations back to the U.S. and pay a repatriation tax rate of 13%, whereas before they paid NOTHING. You'd think you guys would be thrilled with this, but your foaming-mouth hatred of Trump seems to be overruling your reason and common sense.

Three, you didn't address the point that the death tax is double taxation and that you guys have long been for jacking up that tax to over 50%.

Again, why are you guys whining that the rich are paying a lot more in federal taxes because they can only deduct the first $10K of their SALT? How many years have you guys whined and whined and whined that the rich "aren't paying their fair share"? Well, now the rich are losing billions of dollars in SALT deductions and greatly increasing the revenue going to the federal government, but you guys are so deranged with hatred for Trump that you can't bring yourselves to applaud this smart move.

 

[Polishprince]

The SALT cap is double taxation on money you never see

The SALT cap only affects the Rich, and only those who live in High Tax States like New York.

The fact that we have a Rich Guy who lives in a High Tax State as President, who signed it, that tells me its fair.

 

[Polishprince]

In west coast and northeast, real estate taxes above $7000 are common on typical sized homes. State taxes easily bring you over $10,000

Just not true.

I live on the Eastern Seaboard in Pennsylvania, typical sized home and my taxes are $1200.

 

[rightwinger]

The SALT cap is double taxation on money you never see

One, the death tax is double taxation, but you guys are good with that.

Two, corporations pay double taxation all the time. You think they get to deduct all of their local property taxes? There are all kinds of restrictions on the state and local taxes that they can deduct.

Three, the only people who are substantially affected by the $10K SALT cap are people who are in the fourth, fifth, and six tax brackets, people you guys have always defined as the "rich." Someone in the fourth bracket with a net income of $300K is not going to die if they have to pay an extra $20K in SALT. Instead of netting $300K, they'll net $280K. I'm sure they'll be fine.

Four, since when did you guys give a hoot about how much rich people pay in SALT? Capping the SALT deduction at $10K will bring in a hefty amount of extra revenue to the U.S. Treasury--estimates range from $300 billion to $1.1 trillion. You'd think you guys would be thrilled about the government getting more money from the rich.

Corporations pay taxes on their profits, they do not pay twice
Corporations get deductions in more areas than the average tax payer, and just got their tax rate cut nearly in half

Oh. My. Goodness. Okay. . . .

One, yes, corporations pay taxes on their profits, but they also have far more expenses than most people--far, far more. What expenses? Well, to start with, their employees' salaries! Plus, their employees' unemployment compensation fund contributions (employees pay nothing toward this), and half of their employees' payroll taxes. Additionally, they pay state business taxes and local property taxes on top of the state taxes on their owners' incomes, and property taxes for businesses are higher than they are for individual taxpayers.

Two, the corporate income tax rate is now 21%, which is, finally, on par with the average corporate income tax rate in Europe and Asia (18% to 21%). How many Americans pay an income tax rate of 21%? Hey? The vast majority of Americans pay an income tax rate of 15%, 12%, 10%, or 0%. And corporations do not get a "standard deduction" like individual taxpayers get.

Furthermore, when the Republicans cut the corporate income tax rate down to 21%, they also ended the loophole that allowed corporations to avoid U.S. corporate taxes by moving operations overseas. One reason that federal revenue is at record levels now is that American corporations with operations overseas either have to pay the 21% tax rate or move their operations back to the U.S. and pay a repatriation tax rate of 13%, whereas before they paid NOTHING. You'd think you guys would be thrilled with this, but your foaming-mouth hatred of Trump seems to be overruling your reason and common sense.

Three, you didn't address the point that the death tax is double taxation and that you guys have long been for jacking up that tax to over 50%.

Again, why are you guys whining that the rich are paying a lot more in federal taxes because they can only deduct the first $10K of their SALT? How many years have you guys whined and whined and whined that the rich "aren't paying their fair share"? Well, now the rich are losing billions of dollars in SALT deductions and greatly increasing the revenue going to the federal government, but you guys are so deranged with hatred for Trump that you can't bring yourselves to applaud this smart move.

You don’t understand what “profits” are

Salaries are deducted from profit, so is unemployment compensation, rent, electricity, insurance and whatever other business expenses they have.

The remains is profit

They pay a minimal tax on that profit, they are not taxed twice

 

[rightwinger]

In west coast and northeast, real estate taxes above $7000 are common on typical sized homes. State taxes easily bring you over $10,000

Just not true.

I live on the Eastern Seaboard in Pennsylvania, typical sized home and my taxes are $1200.

Philadelphia or Hicksville?

Pennsylvania is best described as Philadelphia on one side, Pittsburgh on the other and Alabama in between

 

[rightwinger]

The SALT cap is double taxation on money you never see

The SALT cap only affects the Rich, and only those who live in High Tax States like New York.

The fact that we have a Rich Guy who lives in a High Tax State as President, who signed it, that tells me its fair.

That Rich Guy just gave himself and his family a billion dollar tax break
He took it out on working families in NY

 

[CrusaderFrank]

Republicans chant.......well, just cut your taxes

Which is their way of saying........provide fewer services to the poor and working poor

Yeah because Trump slashed the budget!

 

[Polishprince]

In west coast and northeast, real estate taxes above $7000 are common on typical sized homes. State taxes easily bring you over $10,000

Just not true.

I live on the Eastern Seaboard in Pennsylvania, typical sized home and my taxes are $1200.

Philadelphia or Hicksville?

Pennsylvania is best described as Philadelphia on one side, Pittsburgh on the other and Alabama in between

I live in the great city of Hermitage. Pretty nice, actually- I came here from the Mid West.

 

[rightwinger]

Republicans chant.......well, just cut your taxes

Which is their way of saying........provide fewer services to the poor and working poor

Yeah because Trump slashed the budget!

Trump increased the budget

 

[rightwinger]

In west coast and northeast, real estate taxes above $7000 are common on typical sized homes. State taxes easily bring you over $10,000

Just not true.

I live on the Eastern Seaboard in Pennsylvania, typical sized home and my taxes are $1200.

Philadelphia or Hicksville?

Pennsylvania is best described as Philadelphia on one side, Pittsburgh on the other and Alabama in between

I live in the great city of Hermitage. Pretty nice, actually- I came here from the Mid West.

Not on the east coast

 

[Polishprince]

Republicans chant.......well, just cut your taxes

Which is their way of saying........provide fewer services to the poor and working poor

Yeah because Trump slashed the budget!

Trump increased the budget

overall, yes, the budget did go up for essential expenses like the Military that Obama neglected. Also, getting the new military service, the US Space Cadets, off the ground is going to be a big expenditure.

But millions have bee scratched from Food Stamps and unemployment. This is tremendous.

 

[Polishprince]

In west coast and northeast, real estate taxes above $7000 are common on typical sized homes. State taxes easily bring you over $10,000

Just not true.

I live on the Eastern Seaboard in Pennsylvania, typical sized home and my taxes are $1200.

Philadelphia or Hicksville?

Pennsylvania is best described as Philadelphia on one side, Pittsburgh on the other and Alabama in between

I live in the great city of Hermitage. Pretty nice, actually- I came here from the Mid West.

Not on the east coast

Pennsylvania is an East Coast state, by any definition of the word.

 

[mikegriffith1]

You don’t understand what “profits” are. Salaries are deducted from profit, so is unemployment compensation, rent, electricity, insurance and whatever other business expenses they have. The remains is profit.

Uhhh, that's exactly what I said. The point is that businesses have many expenses that individuals do not have. You have far fewer expenses to pay before you get to your net income than a business has to pay before it gets to its profit.

Businesses do not get to deduct all of their property taxes and business taxes, etc., etc. So they are taxed twice on part of those taxes.

They pay a minimal tax on that profit, they are not taxed twice

They pay "a minimal tax"???!!! 21% is a "minimal tax"??? Really? What's your tax rate? I bet it's not 21%. Only about 18% of all taxpayers pay an income tax rate of over 20%. The vast majority of Americans pay 12%, 10%, or 0%. Furthermore, the corporate income tax rate of 21% is *not* graduated. You know that, right?

Yes, businesses are taxed twice on some of their state and local taxes. You simply do not know what you are talking about.

And when business owners die, the death tax comes along and taxes the inheritance that they have left to their family. That's major double taxation.

Finally, I ask again, since when do you liberals care about how much state and local taxes the rich pay? Answer: Because capping the SALT deduction at $10K means that low-tax states will no longer subsidize high-tax states; it means that the affluent and rich citizens of the high-tax states are no longer shielded from the full brunt of their state's high tax rates. THAT's why liberals suddenly care about how much the rich pay in SALT, since high-tax states don't want to lower the tax burden on their citizens.