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It might be exciting around tax time.

By HEYYOU follow HEYYOU   2019 Feb 6, 12:38am 449 views   4 comments   watch   nsfw   quote   share    


"In addition, millions of residents of blue states are about to get hit with big federal income tax increases while many American expatriates who own businesses overseas are also facing unexpected new tax bills, especially if they prudently saved for old age under the systems of the countries where they now reside."

"Thanks to the Trump-Radical Republican tax cut, millions of families in California, Connecticut, Maryland, Massachusetts, New Jersey, New York, Virginia and other high-tax states will owe thousands to tens of thousands of dollars more in federal income tax for 2018 even if their income was unchanged from 2017."

Wonder how many are Republicans?

https://www.dcreport.org/2019/01/31/the-laughs-on-us-how-the-trump-radical-republican-tax-cut-broke-the-economy/
1   AD   ignore (0)   2019 Feb 6, 12:59am     ↓ dislike (0)   quote   flag        

The maximum limit or cap on the state and local taxes (SALT) which includes income tax and property tax is $10,000.

" For example, the average SALT deduction taken in New York was more than $21,000 in a recent tax year. "

However, the standard deduction went up significantly, such as to $24,000 for married couples.

I can see this hurting mostly those households in Democrat states making more than $150,000 per year and owning a home worth more than $500,000.
2   HeadSet   ignore (2)   2019 Feb 6, 7:54am     ↓ dislike (0)   quote   flag        

"Thanks to the Trump-Radical Republican tax cut, millions of families in California, Connecticut, Maryland, Massachusetts, New Jersey, New York, Virginia and other high-tax states will owe thousands to tens of thousands of dollars more in federal income tax for 2018 even if their income was unchanged from 2017."

Sounds like a tax increase on the upper class. The same puds that previously pawned their high state taxes onto those in low tax states.
3   HEYYOU   ignore (34)   2019 Feb 6, 9:45am     ↓ dislike (0)   quote   flag        

I just realized that a tax increase is not a tax increase & no Republican will be bothered by paying more.
At least we have cheaper & better Trumpcare.
4   6rdB   ignore (0)   2019 Feb 6, 10:24am     ↓ dislike (0)   quote   flag        

HEYYOU says
"In addition, millions of residents of blue states are about to get hit with big federal income tax increases

Good! Voted for party which supports higher taxes, get higher taxes and do not whine.

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