Tax bill

[over the mountain]

Worst case scenario .... 4-8 years from now, republicans will suddenly become deficit hawks again and demand cuts to medicare, medicaid and social security to off set the corporate and estate tax cuts .. and health care system implodes bc without mandate, affordable care cant be funded but republicans knew this and did nothing to fix it.

Not a fan at all with republicans reducing the amount of SALT deductible to 10k. Thats clearly favoring one group of Americans at expense of others. Not cool.

Ill wait to see how it plays out. Im middle of the middle class. Make 89k per year, own a 240k townhouse, 1 kid, 1 car. But this does seem to be a rushed hatchet job with many cracks.

[CRedskinsRule]

Originally Posted by over the mountain

Worst case scenario .... 4-8 years from now, republicans will suddenly become deficit hawks again and demand cuts to medicare, medicaid and social security to off set the corporate and estate tax cuts .. and health care system implodes bc without mandate, affordable care cant be funded but republicans knew this and did nothing to fix it.

Not a fan at all with republicans reducing the amount of SALT deductible to 10k. Thats clearly favoring one group of Americans at expense of others. Not cool.

Ill wait to see how it plays out. Im middle of the middle class. Make 89k per year, own a 240k townhouse, 1 kid, 1 car. But this does seem to be a rushed hatchet job with many cracks.

I am curious about the bolded part. The people who live in high tax states have voted for that tax, likewise the people who live in low tax states have voted for lower taxes. If I live in a state that has lower taxes, under the former tax code wasn't the government favoring those who paid more state taxes?

It's really an interesting dilemna, I think. Either way you go that part of the tax code is going to favor one group over the other.

[Giantone]

Originally Posted by CRedskinsRule

I am curious about the bolded part. The people who live in high tax states have voted for that tax, likewise the people who live in low tax states have voted for lower taxes. If I live in a state that has lower taxes, under the former tax code wasn't the government favoring those who paid more state taxes?

It's really an interesting dilemna, I think. Either way you go that part of the tax code is going to favor one group over the other.

https://www.yahoo.com/gma/york-resid...opstories.html

[CRedskinsRule]

Originally Posted by Giantone

https://www.yahoo.com/gma/york-resid...opstories.html

Sounds like NY will get a windfall of early tax money. See Trump even gave liberals in NY a Christmas present .

[over the mountain]

Originally Posted by CRedskinsRule

I am curious about the bolded part. The people who live in high tax states have voted for that tax, likewise the people who live in low tax states have voted for lower taxes. If I live in a state that has lower taxes, under the former tax code wasn't the government favoring those who paid more state taxes?

It's really an interesting dilemna, I think. Either way you go that part of the tax code is going to favor one group over the other.

I would say "no" but I honestly dont know enough to make an educated answer. You arent taxing the same dollar bill twice.

Re states voting for higher state taxes at their own peril .. the liberal playbook says to point out that blue states like NY and CA take less federal dollars per than Alabama, New mexico, kentucky, mississippi, montana etc ..

Do we want a federal tax code that rewards states that rely federal aid or do we want to encourage states to not depend on federal aid?