High Tax States Suing the Treasury. They want a Tax Cut.

[martybegan]

Many middle class families in prosperous states pay more than $10,000

The SALT deduction helps mostly rich taxpayers. Getting rid of it should please liberals

I make around $130k a year in NY, and my local taxes are around $7000. So right now I am still under.

 

[basquebromance]

Trump's tax cuts were a smashing success. all over the world, capital's flowing to the US

 

[flewism]

Nowhere under current law is it mandated that the federal government is required to subsidize state and local taxes by allowing them to be deducted from federal tax liabilities.

If the state wants to tax you $100,000 the federal government is not required to allow you to deduct $100,000 from you federal taxable income under current law.

The lawsuits are without merit.

The tax cap was created to punish the states which did not vote for Trump.

And to think the pseudocons got upset about the IRS being used as a political weapon! Ha!

Greedy little bitches. Libs talk a lot, but when it comes down to it, they are a bunch of greedy little pussies that refuse to pay their fair share. All of them are full of shit.

Punishes a lot of middle income families that voted for the Don. Mi will not be voting for the Don again. He has instated double taxation and I thought the GOP was anti that?

I believe Donald will take Michigan again, The SALT cap affect less than 5% of Michigan taxpayers, earning near $200,000 and paying more than $3K in property taxes, or some combination of that, and still itemizing you deductions.

We are slightly over the 10K cap with our state and local taxes, but I won't be itemizing our deductions for the first time in over 30 years when I do my 2018 taxes, so this is a mute point to me, we just don't have $24k in deductions anymore.

 

[basquebromance]

we need to index the capital gains tax for inflation and help middle class families save more money for health and education

 

[Penelope]

Nowhere under current law is it mandated that the federal government is required to subsidize state and local taxes by allowing them to be deducted from federal tax liabilities.

If the state wants to tax you $100,000 the federal government is not required to allow you to deduct $100,000 from you federal taxable income under current law.

The lawsuits are without merit.

The tax cap was created to punish the states which did not vote for Trump.

And to think the pseudocons got upset about the IRS being used as a political weapon! Ha!

Greedy little bitches. Libs talk a lot, but when it comes down to it, they are a bunch of greedy little pussies that refuse to pay their fair share. All of them are full of shit.

Punishes a lot of middle income families that voted for the Don. Mi will not be voting for the Don again. He has instated double taxation and I thought the GOP was anti that?

I believe Donald will take Michigan again, The SALT cap affect less than 5% of Michigan taxpayers, earning near $200,000 and paying more than $3K in property taxes, or some combination of that, and still itemizing you deductions.

We are slightly over the 10K cap with our state and local taxes, but I won't be itemizing our deductions for the first time in over 30 years when I do my 2018 taxes, so this is a mute point to me, we just don't have $24k in deductions anymore.

Exactly when the married deduct was 12,700 many itemized. Only the very wealthy will itemize and get a tax cut.

 

[basquebromance]

Trump's tax cuts approval is in the 30s. the Republicans need to run on immigration, not taxes!

 

[Penelope]

$10,000 is easy to reach if you live in a wealthy state

Only if you're wealthy, dumbass. The claim that it hurts the middle class is pure hooey.

Not wealthy, dope. Anyone who itemizes.

No, only a small percent of those who itemize.
Making sense of the new cap on state tax deductions

Liar.

10k is nothing when we're talking state, property and sales tax.

Why are you dopes applauding the idea of double taxation?

These were only deductible because taxes are not income.

The standard deduction for a couple filing jointly is $12,700. Itemized deductions have to be more than that before it's even worth it for you to itemize. If you have a mortgage on a $150,000 home, you're going to take the standard deduction, so Trump's SALT tax treatment changes won't even affect you.

Remember, these tax changes affect only the deduction for state and local taxes, not the interest payment deduction.

they sure do with the increase in standard deduct for married and single.

 

[basquebromance]

90 percent of Americans got a tax cut with Trump.

 

[JBond]

Nowhere under current law is it mandated that the federal government is required to subsidize state and local taxes by allowing them to be deducted from federal tax liabilities.

If the state wants to tax you $100,000 the federal government is not required to allow you to deduct $100,000 from you federal taxable income under current law.

The lawsuits are without merit.

The tax cap was created to punish the states which did not vote for Trump.

And to think the pseudocons got upset about the IRS being used as a political weapon! Ha!

Greedy little bitches. Libs talk a lot, but when it comes down to it, they are a bunch of greedy little pussies that refuse to pay their fair share. All of them are full of shit.

Punishes a lot of middle income families that voted for the Don. Mi will not be voting for the Don again. He has instated double taxation and I thought the GOP was anti that?

I believe Donald will take Michigan again, The SALT cap affect less than 5% of Michigan taxpayers, earning near $200,000 and paying more than $3K in property taxes, or some combination of that, and still itemizing you deductions.

We are slightly over the 10K cap with our state and local taxes, but I won't be itemizing our deductions for the first time in over 30 years when I do my 2018 taxes, so this is a mute point to me, we just don't have $24k in deductions anymore.

Exactly when the married deduct was 12,700 many itemized. Only the very wealthy will itemize and get a tax cut.

The lower rates only apply if you itemize? Who told you that BS?

Stupid libs. Lie after lie.

 

[rightwinger]

$10,000 is easy to reach if you live in a wealthy state

Only if you're wealthy, dumbass. The claim that it hurts the middle class is pure hooey.

Not wealthy, dope. Anyone who itemizes.

No, only a small percent of those who itemize.
Making sense of the new cap on state tax deductions

Liar.

10k is nothing when we're talking state, property and sales tax.

Why are you dopes applauding the idea of double taxation?

These were only deductible because taxes are not income.

The standard deduction for a couple filing jointly is $12,700. Itemized deductions have to be more than that before it's even worth it for you to itemize. If you have a mortgage on a $150,000 home, you're going to take the standard deduction, so Trump's SALT tax treatment changes won't even affect you.

Remember, these tax changes affect only the deduction for state and local taxes, not the interest payment deduction.

$150,000?

You do live in a double wide

 

[rightwinger]

Many middle class families in prosperous states pay more than $10,000

The SALT deduction helps mostly rich taxpayers. Getting rid of it should please liberals

I make around $130k a year in NY, and my local taxes are around $7000. So right now I am still under.

What state taxes do you pay on $130,000?

Add that to your $7000 local tax and you are over $10,000

 

[martybegan]

Many middle class families in prosperous states pay more than $10,000

The SALT deduction helps mostly rich taxpayers. Getting rid of it should please liberals

I make around $130k a year in NY, and my local taxes are around $7000. So right now I am still under.

What state taxes do you pay on $130,000?

Add that to your $7000 local tax and you are over $10,000

State and local income taxes last year were $7000.

I don't own a home, so no property taxes for me.

 

[JBond]

Only if you're wealthy, dumbass. The claim that it hurts the middle class is pure hooey.

Not wealthy, dope. Anyone who itemizes.

No, only a small percent of those who itemize.
Making sense of the new cap on state tax deductions

Liar.

10k is nothing when we're talking state, property and sales tax.

Why are you dopes applauding the idea of double taxation?

These were only deductible because taxes are not income.

The standard deduction for a couple filing jointly is $12,700. Itemized deductions have to be more than that before it's even worth it for you to itemize. If you have a mortgage on a $150,000 home, you're going to take the standard deduction, so Trump's SALT tax treatment changes won't even affect you.

Remember, these tax changes affect only the deduction for state and local taxes, not the interest payment deduction.

$150,000?

You do live in a double wide

150k buys you a decent 3br in the KC metro area. Paid 225k for my 4bd 3bth 3800sqft 7 years ago. Folks on the coasts are getting screwed.

 

[Thinker101]

Nowhere under current law is it mandated that the federal government is required to subsidize state and local taxes by allowing them to be deducted from federal tax liabilities.

If the state wants to tax you $100,000 the federal government is not required to allow you to deduct $100,000 from you federal taxable income under current law.

The lawsuits are without merit.

The tax cap was created to punish the states which did not vote for Trump.

And to think the pseudocons got upset about the IRS being used as a political weapon! Ha!

Greedy little bitches. Libs talk a lot, but when it comes down to it, they are a bunch of greedy little pussies that refuse to pay their fair share. All of them are full of shit.

Punishes a lot of middle income families that voted for the Don. Mi will not be voting for the Don again. He has instated double taxation and I thought the GOP was anti that?

I believe Donald will take Michigan again, The SALT cap affect less than 5% of Michigan taxpayers, earning near $200,000 and paying more than $3K in property taxes, or some combination of that, and still itemizing you deductions.

We are slightly over the 10K cap with our state and local taxes, but I won't be itemizing our deductions for the first time in over 30 years when I do my 2018 taxes, so this is a mute point to me, we just don't have $24k in deductions anymore.

Exactly when the married deduct was 12,700 many itemized. Only the very wealthy will itemize and get a tax cut.

Say what?! Have you ever done taxes? And no, I don't mean sales taxes. Dumbass.

 

[Penelope]

Nowhere under current law is it mandated that the federal government is required to subsidize state and local taxes by allowing them to be deducted from federal tax liabilities.

If the state wants to tax you $100,000 the federal government is not required to allow you to deduct $100,000 from you federal taxable income under current law.

The lawsuits are without merit.

The tax cap was created to punish the states which did not vote for Trump.

And to think the pseudocons got upset about the IRS being used as a political weapon! Ha!

Greedy little bitches. Libs talk a lot, but when it comes down to it, they are a bunch of greedy little pussies that refuse to pay their fair share. All of them are full of shit.

Punishes a lot of middle income families that voted for the Don. Mi will not be voting for the Don again. He has instated double taxation and I thought the GOP was anti that?

I believe Donald will take Michigan again, The SALT cap affect less than 5% of Michigan taxpayers, earning near $200,000 and paying more than $3K in property taxes, or some combination of that, and still itemizing you deductions.

We are slightly over the 10K cap with our state and local taxes, but I won't be itemizing our deductions for the first time in over 30 years when I do my 2018 taxes, so this is a mute point to me, we just don't have $24k in deductions anymore.

Exactly when the married deduct was 12,700 many itemized. Only the very wealthy will itemize and get a tax cut.

Say what?! Have you ever done taxes? And no, I don't mean sales taxes. Dumbass.

Every year.

 

[JBond]

Nowhere under current law is it mandated that the federal government is required to subsidize state and local taxes by allowing them to be deducted from federal tax liabilities.

If the state wants to tax you $100,000 the federal government is not required to allow you to deduct $100,000 from you federal taxable income under current law.

The lawsuits are without merit.

Greedy little bitches. Libs talk a lot, but when it comes down to it, they are a bunch of greedy little pussies that refuse to pay their fair share. All of them are full of shit.

Punishes a lot of middle income families that voted for the Don. Mi will not be voting for the Don again. He has instated double taxation and I thought the GOP was anti that?

I believe Donald will take Michigan again, The SALT cap affect less than 5% of Michigan taxpayers, earning near $200,000 and paying more than $3K in property taxes, or some combination of that, and still itemizing you deductions.

We are slightly over the 10K cap with our state and local taxes, but I won't be itemizing our deductions for the first time in over 30 years when I do my 2018 taxes, so this is a mute point to me, we just don't have $24k in deductions anymore.

Exactly when the married deduct was 12,700 many itemized. Only the very wealthy will itemize and get a tax cut.

Say what?! Have you ever done taxes? And no, I don't mean sales taxes. Dumbass.

Every year and my husband has a business.

Why did you lie about itemizing in order to receive the new lower tax rates?

 

[Penelope]

Nowhere under current law is it mandated that the federal government is required to subsidize state and local taxes by allowing them to be deducted from federal tax liabilities.

If the state wants to tax you $100,000 the federal government is not required to allow you to deduct $100,000 from you federal taxable income under current law.

The lawsuits are without merit.

The tax cap was created to punish the states which did not vote for Trump.

And to think the pseudocons got upset about the IRS being used as a political weapon! Ha!

Greedy little bitches. Libs talk a lot, but when it comes down to it, they are a bunch of greedy little pussies that refuse to pay their fair share. All of them are full of shit.

Punishes a lot of middle income families that voted for the Don. Mi will not be voting for the Don again. He has instated double taxation and I thought the GOP was anti that?

I believe Donald will take Michigan again, The SALT cap affect less than 5% of Michigan taxpayers, earning near $200,000 and paying more than $3K in property taxes, or some combination of that, and still itemizing you deductions.

We are slightly over the 10K cap with our state and local taxes, but I won't be itemizing our deductions for the first time in over 30 years when I do my 2018 taxes, so this is a mute point to me, we just don't have $24k in deductions anymore.

Exactly when the married deduct was 12,700 many itemized. Only the very wealthy will itemize and get a tax cut.

The lower rates only apply if you itemize? Who told you that BS?

Stupid libs. Lie after lie.

LOL, and the charitable deduct went up for the rich as well. The pass through business stuff is another one for the wealthy, its all for the wealthy. Name one thing good its going to do for the median income which is about 55 grand in the US.

 

[Penelope]

90 percent of Americans got a tax cut with Trump.

Who exactly??

 

[Thinker101]

Nowhere under current law is it mandated that the federal government is required to subsidize state and local taxes by allowing them to be deducted from federal tax liabilities.

If the state wants to tax you $100,000 the federal government is not required to allow you to deduct $100,000 from you federal taxable income under current law.

The lawsuits are without merit.

Greedy little bitches. Libs talk a lot, but when it comes down to it, they are a bunch of greedy little pussies that refuse to pay their fair share. All of them are full of shit.

Punishes a lot of middle income families that voted for the Don. Mi will not be voting for the Don again. He has instated double taxation and I thought the GOP was anti that?

I believe Donald will take Michigan again, The SALT cap affect less than 5% of Michigan taxpayers, earning near $200,000 and paying more than $3K in property taxes, or some combination of that, and still itemizing you deductions.

We are slightly over the 10K cap with our state and local taxes, but I won't be itemizing our deductions for the first time in over 30 years when I do my 2018 taxes, so this is a mute point to me, we just don't have $24k in deductions anymore.

Exactly when the married deduct was 12,700 many itemized. Only the very wealthy will itemize and get a tax cut.

Say what?! Have you ever done taxes? And no, I don't mean sales taxes. Dumbass.

Every year and my husband has a business.

Ok then, so what is your definition of "very wealthy"?

 

[Penelope]

Nowhere under current law is it mandated that the federal government is required to subsidize state and local taxes by allowing them to be deducted from federal tax liabilities.

If the state wants to tax you $100,000 the federal government is not required to allow you to deduct $100,000 from you federal taxable income under current law.

The lawsuits are without merit.

Punishes a lot of middle income families that voted for the Don. Mi will not be voting for the Don again. He has instated double taxation and I thought the GOP was anti that?

I believe Donald will take Michigan again, The SALT cap affect less than 5% of Michigan taxpayers, earning near $200,000 and paying more than $3K in property taxes, or some combination of that, and still itemizing you deductions.

We are slightly over the 10K cap with our state and local taxes, but I won't be itemizing our deductions for the first time in over 30 years when I do my 2018 taxes, so this is a mute point to me, we just don't have $24k in deductions anymore.

Exactly when the married deduct was 12,700 many itemized. Only the very wealthy will itemize and get a tax cut.

Say what?! Have you ever done taxes? And no, I don't mean sales taxes. Dumbass.

Every year and my husband has a business.

Why did you lie about itemizing in order to receive the new lower tax rates?

Show me my lie?