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That if you support Trump/the republicans, this is the tax plan that you should expect.
Go back to the politics forum if you want to troll about D vs. R
I fully support Trump, but this shit is a total slap in the face.
Go back to the politics forum if you want to troll about D vs. R
Remember, EVERY news source has an agenda, what agenda is YOURS pushing?
Yeah, you got screwed, buddy. How's this for being on topic?
Also, how many middle class families buy $500K+ houses? Do you know what the median house price is in the US?
Strategist saysThere is no such thing as a house for $500K in some parts of the county,
You need to get out and see the rest of the country, prices in the real world aren't like CA. The median house price in the US is $315K.
Strategist saysWhat do you do?
Move out of CA, you'll be a lot happier and have more money.
It's a small town in Illinois, where no one wants to live.
Maybe the people there just don't like to play golf?
We need to talk about this shitty tax plan
To clarify, I'm actually losing about $40k in reductions.
My aunt has not been to sell her beautiful 7,000 sq ft home on a golf course even after 3 years, even though the price was heavily reduced to $300K
It's a small town in Illinois, where no one wants to live. What do you do?
NewOldUser saysTo clarify, I'm actually losing about $40k in reductions.
It's a poor practice to expect your government cheese to be unending. The mortgage interest deduction needs to be phased out.
Whatever break you think you are going to get from Washington will get taken away by local and state taxes.
It's ok companies like Coke will "invest" when they bring money back from oversees at a discount.
The states are not going to simply reduce their taxes. Real life doesn't work that way.
On the other, trickle-down has not historically materialized hence the moniker "voodoo economics."
So the whole "SALT Is going to make poor people pay more" is a bit of a stretch since they overwhelmingly take the standard deduction anyway, and even if they do itemize, wow, a solid $50 a month hit. That's about the monthly impact of the recent gas tax for most commuters in Los Angeles, but Democrats are gleefully onboard with that. Not to mention the extra $25 to $175 per vehicle on top.
Lots of dishonesty being spread here.
Absolutely nobody is saying that eliminating the SALT deductions will hurt the poor. It will hurt the middle class, however, and THAT is what people are saying.
I just proved that it doesn't hurt the middle class
The only people I see crying about this are people who live in the Bay Area, SoCal, or any other pricey part of California
He/She got screwed at least twice - first time was at birth.
You mean states aren't subject to austerity? Why?
More than half of the middle class use itemize.
So the whole "SALT Is going to make poor people pay more" is a bit of a stretch since they overwhelmingly take the standard deduction anyway, and even if they do itemize, wow, a solid $50 a month hit.
Lots of dishonesty being spread here.
Goran_K saysYou mean states aren't subject to austerity? Why?
The wrong people will get hit by that. Yes, there are bad budgets and bad spending in CA. Federal funds are also wastefully dispersed in CA. Remember, the entire government is connected. There is no separate country.
If you are advocating a state bankruptcy in the largest state economy in the country, that is a very strange position to take in relation to MAGA.
Goran_K saysI just proved that it doesn't hurt the middle class
Actually you proved it does. More than half of the middle class use itemize. So you showed the exact opposite of what you claim.
Goran_K saysThe only people I see crying about this are people who live in the Bay Area, SoCal, or any other pricey part of California
Open your eyes then.
If people in high COL states are so financially stretched thin because they bought way too much house and then can't take some hit on their tax deductions, that's on them. This is why so many people are screaming because they're hanging on by a thread so they can have that house on the hill and the Beamer. This is the reckoning for reckless financial spending, and I love it.
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I have no idea why anyone in the government thinks it's a good idea to eliminate MI and LAST tax deductions. If approved and implemented, many middle class people with children will be pinched very hard in the wallet.
This plan sucks. Period. I fully support Trump, but this shit is a total slap in the face.