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follow bob2356 2018 Apr 11, 8:33am
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But that's CA fault, we as people allow government to raise taxes on us and squeeze us more every year, of course CA will have disadvantages. Liberal governments always lead to failure
In CA that’s barely middle class these days sadly due to Democrat liberal policies of inflation.PrivilegedtobeWhite saysWookieMan saysNot sure if this is sarcasm.I have a high income. Well above $250K.
WookieMan saysNot sure if this is sarcasm.I have a high income. Well above $250K.
Not sure if this is sarcasm.
WookieMan says $9k extra from the standard deduction is not literally a $9k savings as we've heard hereThat's because you don't understand the Schedule A, as been pointed out above.
$9k extra from the standard deduction is not literally a $9k savings as we've heard here
We will be waiting, and waiting, and waiting.
bob2356 saysWe will be waiting, and waiting, and waiting.
You guys all know the post was about raises, not tax cuts right? So you are all taking a tax cut which is borrowing money against the future to put into your pockets now and calling it savings. Perfect.
It's a genius move to pressure flip from Federal Taxation to State Taxation.People are now Saying "Jesus, my state income tax is all fucked up. In fact, the way everything is handled in my Deep Blue, Hard Left State is fucked up. All this money and there are potholes everywhere, double dip pensions, etc. etc."
It's 4% difference on $200K between tax rates 2017 versus 2018, before tweaking:28% on $200K in 2017Versus 24% on $200K in 2018
You guys all know the post was about raises, not tax cuts right?
IL is simply horrible., Take this beautiful house which just sold for 375k-beautiful . Why is it so low-who will buy with a 22k a year tax burden? No way to predict how high they will still go.https://www.realtor.com/realestateandhomes-detail/2321-Steeple-Chase-Cir-W_Libertyville_IL_60048_M80808-72622
This tax cut will hit the upper middle income and lower rich. Richie rich will not care. But that is where it will hurt most-they may finally wake up and demand accountability.
I'm quite familiar with that area and that house is ridiculously overtaxed if that is real. A $400K house in Libertyville is typically $10K property taxes.
Agreed. They are going to wonder why their taxes went up to support multi millionaires and billionaires. And they're going to place the blame on Republicans, where it belongs.
A $400K house in Libertyville is typically $10K property taxes.
HI joey/tatupu. 10k is way too high -why do you think 10k is reasonable-when in most areas in this country-equivalent would be much less. In CA of all places, you would pay about 4k for a 400k house and it is fixed-not keep going up for ever.
To the upper middle class, they will realize how much they have been paying to the greedy democrats and public unions.
taxes to support teachers
But in practice, the majority in IL is Dem
I agree $10K is too high. Just pointing out that $22K is not indicative of what 99+% of the people pay on a $375K house in I
I consider myself upper middle class and I would MUCH, MUCH, MUCH rather pay my taxes to support teachers than pay my taxes to support multi billionaires. If you want cuts to property taxes, you need to vote for different people at the local level. The State doesn't set property taxes. Place your blame where it belongs.
LeonDurham saystaxes to support teachersMostly, to support police being able to retire at 50. Teachers are often just a smokescreen, and even in their case, highest salaries/pensions go to useless bureaucrats.
Show me the stats then. Like wookieman says it is closer to 14-15k
We have been through this carousel how many times? The state does not let local areas to get rid of pensions,. The state voted into the constitution that any pension obligations can never be changed. DEmocrats are the one still holding on to that potion and unwilling to change.
Oh your tax is not going to teachers-recently a school administrator in Crystal lake, IL got the salary raised-guess how much-190k a year. Then there is the city administrators/village managers making 300k and their staff and the 7,000 units of government in IL-that si where your money is going to-not teachers.
Yes, we have but I cannot let misinformation stand no matter how many times it is posted. It was the IL Supreme Court that decided it was against the law to change the rules on peoples' pensions
Yes, school administration is bloated and overpaid
Teachers in CA make 6 figures and have a pension. Retire at 65 I think?
A Democratic Governor and Democratic Mayor of Chicago were FOR pension reform. I know this kills the narrative that conservatives like to spew, but facts are facts.
Oh please. The democrats can fix this crisis in afew months
Widely panned as a meaningless measure that would not reduce the state's pension debt, it passed the House unanimously, with only two dissenting votes in the Senate. But only 56 percent of voters approved, falling short of the supermajority needed
There's a way to do this, just not the will. Madigan knew the voters wouldn't support it, at least enough to get it passed. He can say he tried. Actually trying would be making it easier to pass a constitutional amendment and get rid of the supermajority. He knew that. People will just vote yes for something like that (dumping supermajority). But he knows getting 50% of voters onboard for pension reform is realistic (heck it would have passed dumping the supermajority) so they didn't take the route needed to fix our states problems.
The reason the court voted int hatw at, was because the constitution was changed to forbid any changes for pensions for public thugs
lostand confused saysThe reason the court voted int hatw at, was because the constitution was changed to forbid any changes for pensions for public thugsDo you have a source for that? I've never seen any evidence of such an Amendment-what year did it pass?
FortWayne saysBut that's CA fault, we as people allow government to raise taxes on us and squeeze us more every year, of course CA will have disadvantages. Liberal governments always lead to failureOne of my main points in my comments here. Everyone will likely get a cut in some form or another, great. This was a kick in the nuts to high property and income tax states. There's no disputing this. As I've said, it's one of the most brilliant political strategies by a political party that I've seen. High income Democrats, in blue state are going to be PISSED when they do their taxes the next two years. Some will blame it on Trump, many will wake up and realize their state taxes the fuck out of them. CA won't be in play, but in 2020, assuming most republicans don't move, IL could turn red. Not predicting that, but we have a lot of Dems here in IL in some uppity areas that are going ...
bob2356 saysYou are free to post your schedule a any time and show us exaclty how you come up with your numbers.Look at that, we have another brain surgeon here:
You are free to post your schedule a any time and show us exaclty how you come up with your numbers.
Come to think of it, itemizing only $15k is kind of a joke in NJ. You'd have to be making like $75k and living in a 1 bed condo to only hit that amount, even without mortgage interest. That speaks volumes now that I think about it.
Actually....If you file form 1040 and your line 44 (taxable income) was exactly $200,000, then in 2017 you would owe $42,869 and if in 2018 tax year you hit line 44 at exactly $200,000 you would owe the IRS $36,578 a difference of $6,291 not $8,000.
Funny I just did taxes for my mother who owns a 4 bedroom house in central jersey and coulldn't come up with anywhere near 15k. Essex, Bergan, and Union counties aren't the entire state.
There certainly are people in NJ that don't itemize or they fall in-between $12k and $15k. Generally speaking, they likely have their house paid of (no MID) or they aren't making a whole lot of income. Not sure how NJ does it, but they may also have a senior property tax freeze, keeping their property taxes lower then the average.
Average property tax bill in NJ is something like 8500 including all the insanely high tax (20k average area's ) districts bubbled around NY. Median house price 250k. The number is 40% itemizing. That's third highest in the country. Which means 60% don't. Sorry but 60% of people in NJ don't live in a small condo on low income.
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