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re: What’s the board consensus on eliminating the State tax deduction as part of Fed Tax bill?

Posted on 10/26/17 at 8:24 pm to
Posted by OnTheLevel State Fan
Member since Jul 2017
871 posts
Posted on 10/26/17 at 8:24 pm to
dont elect commies
Posted by Jorts R Us
Member since Aug 2013
14939 posts
Posted on 10/26/17 at 8:30 pm to
If I'm from 3:1 MS, I probably avoid this discussion.
Posted by SEC. 593
Chicago
Member since Aug 2012
4084 posts
Posted on 10/26/17 at 8:43 pm to
Posted by 4Ghost
Member since Sep 2016
8530 posts
Posted on 10/26/17 at 8:48 pm to
Bingo!
Posted by 4Ghost
Member since Sep 2016
8530 posts
Posted on 10/26/17 at 8:50 pm to
So freakin what! Life is all about choices and the consequences of those choices. They chose to live in those states, grin and bear it, or tax reform in the state you reside in!
Posted by larry289
Holiday Island, AR
Member since Nov 2009
3858 posts
Posted on 10/26/17 at 8:56 pm to
quote:

During the recession in 2008, a 3.7% decline in the California economy resulted in a 23% plunge in state revenue.

Sounds like they need to increase their tax rates.
Posted by udtiger
Over your left shoulder
Member since Nov 2006
99877 posts
Posted on 10/26/17 at 9:05 pm to
quote:

So shouldn't their residents be asking this question of some southern states


BTW, this bullshite number comes from considerinf all federal spending in a state.

Southern states have a shitton of military bases - so that's salaries, benefits, physical plant, equipment, etc. Plus, they also have a shitton of poor (many of whom are leeches) resulting in billions of Medicaid, Food Stamps, etc.

The "paying" states are more than welcome to take them into their borders.
Posted by YankeeBama
Milwaukee
Member since Sep 2017
4743 posts
Posted on 10/26/17 at 9:10 pm to
quote:


So freakin what! Life is all about choices and the consequences of those choices. They chose to live in those states, grin and bear it, or tax reform in the state you reside in!




You need us to stay put and pay our high taxes so you can enjoy your low cost of living.
Posted by SEC. 593
Chicago
Member since Aug 2012
4084 posts
Posted on 10/27/17 at 12:46 am to
South Carolina, Kentucky, and Alabama are in the top five of states that receive the most non-grant and non-contract federal moneies per dollar paid.
Posted by GeorgeWest
Baton Rouge
Member since Nov 2013
13282 posts
Posted on 10/27/17 at 1:08 am to
1. Corporations will still be able to deduct their state and local taxes just not regular citizens. Yep, that's fair.

2. This provision has NO CHANCE of passing. In fact, if that provision is NOT amended out of the tax cut bill, the whole thing will fail. 14 of 17 California Republican Congressmen have already said they would vote NO if that provision remains. Republican Congressmen from NY, CA, MA, and IL alone will defeat it.

3. AMT and Estate Tax should also remain in the tax code.
This post was edited on 10/27/17 at 1:09 am
Posted by ABearsFanNMS
Formerly of tLandmass now in Texas
Member since Oct 2014
17546 posts
Posted on 10/27/17 at 1:21 am to
quote:

AMT and Estate Tax should also remain in the tax code.


Please explain your rationale for this?
Posted by bigDgator
Dallas, TX
Member since Oct 2008
42198 posts
Posted on 10/27/17 at 1:51 am to
You are all greatly overpaid and much of that money comes from red states in the form of insurance and financial services. Your public workers are vastly overcompensated and I am sure they have blood sucking pension plans like every other blue state or large city.
Blue states = waste
Posted by bigDgator
Dallas, TX
Member since Oct 2008
42198 posts
Posted on 10/27/17 at 1:54 am to
And why would anyone believe any figures generated by the Obama administration?
Posted by Loserman
Member since Sep 2007
22039 posts
Posted on 10/27/17 at 2:36 am to
quote:

The federal government has decided that the state tax should count as income to be taxed a 2nd time.



Neither part of that sentence is true.

Posted by Jorts R Us
Member since Aug 2013
14939 posts
Posted on 10/27/17 at 4:57 am to
quote:

1. Corporations will still be able to deduct their state and local taxes just not regular citizens. Yep, that's fair.


Two different theories of taxation. There are already numerous items businesses can deduct that individuals cannot.
Posted by YankeeBama
Milwaukee
Member since Sep 2017
4743 posts
Posted on 10/27/17 at 6:16 am to
We haven’t even scratched the surface of property taxes.
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