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4 states sue US to void cap on state and local tax deduction
Posted on 7/17/18 at 2:30 pm
Posted on 7/17/18 at 2:30 pm
LINK
quote:
Four U.S. states sued the federal government Tuesday to void the new $10,000 cap on the federal deduction for state and local taxes, included as part of the President Donald Trump's 2017 tax overhaul.
quote:
The lawsuit by New York, Connecticut, Maryland and New Jersey came seven months after Trump signed into law the $1.5 trillion overhaul, which also lowered taxes for many wealthy Americans and slashed the corporate tax rate.
quote:
Critics say the cap disproportionately harms high-tax states, many of which lean Democratic.
Voters in New York, Connecticut, Maryland and New Jersey favored Hillary Clinton, a Democrat, in the 2016 presidential election.
quote:
The states said the cap will depress home prices, spending, job growth and economic growth, and impede their ability to pay for essential services such as schools, hospitals, police, and road and bridge construction and maintenance.
They also said it "effectively eviscerates" a deduction that has been on the books since 1861, and unconstitutionally intrudes on state sovereignty.
16
Posted on 7/17/18 at 2:31 pm to WPBTiger
Do liberals understand it is mostly the wealthy who use these deductions?
Posted on 7/17/18 at 2:31 pm to WPBTiger
PAY YOUR FAIR SHARE!!!!!
I SHOULDN'T HAVE TO PAY SO MUCH IN TAXES!!!!!
I SHOULDN'T HAVE TO PAY SO MUCH IN TAXES!!!!!
Posted on 7/17/18 at 2:32 pm to WPBTiger
They finally figured it out!!!! More lawsuits wasting tax dollars!Posted on 7/17/18 at 2:32 pm to WPBTiger
quote:
unconstitutionally intrudes on state sovereignty.
It's weird how they selectively apply the above.
Posted on 7/17/18 at 2:32 pm to WPBTiger
quote:
a deduction that has been on the books since 1861
wut
There weren't federal income taxes until 1913.
ETA: I may be wrong - the system as it exists today was implemented in 1913. I think Lincoln may have instituted a temporary wartime income tax.
This post was edited on 7/17/18 at 2:42 pm
Posted on 7/17/18 at 2:32 pm to WPBTiger
Lol. Its progressive blue states complaining about paying more taxes. Love it.
Posted on 7/17/18 at 2:32 pm to upgrayedd
quote:
PAY YOUR FAIR SHARE!!!!!
THIS
Posted on 7/17/18 at 2:34 pm to HempHead
They'll win , at least until the matter gets to SCOTUS.
Too bad Ryan doesn't have the balls to go after judges who find in favor of this nonsense.
Too bad Ryan doesn't have the balls to go after judges who find in favor of this nonsense.
Posted on 7/17/18 at 2:35 pm to roadGator
quote:It is so shocking to the point of being funny any middle of the road Dem still supports the narrative their party pushs.
unconstitutionally intrudes on state sovereignty.
It's weird how they selectively apply the above.
Posted on 7/17/18 at 2:40 pm to WPBTiger
quote:
Critics say the cap disproportionately harms high-tax states, many of which lean Democratic.
Maybe lower your state's taxes and stop wasting so much money on socialist type programs
Posted on 7/17/18 at 2:41 pm to HailHailtoMichigan!
quote:
Do liberals understand it is mostly the wealthy who use these deductions?
Oh they know quite well.
Classic example of the wealthy, elite liberals not wanting their shitty policies to harm them personally.
Posted on 7/17/18 at 2:41 pm to CarRamrod
quote:they aren't allowed to think for themselves
It is so shocking to the point of being funny any middle of the road Dem still supports the narrative their party pushs.
Posted on 7/17/18 at 2:51 pm to WPBTiger
Good luck with that suit.
Posted on 7/17/18 at 3:00 pm to Tiger Prawn
quote:
Maybe lower your state's taxes and stop wasting so much money on socialist type programs
A three second video:
Sam McCloud
Posted on 7/17/18 at 3:01 pm to airfernando
quote:
they aren't allowed to think for themselves
To be fair, the vast majority of Democrat voters ARE idiots who are incapable of thinking for themselves.
Posted on 7/17/18 at 3:16 pm to WPBTiger
Republicans need to use this for the mid term. The democrats calm the rich should pay more in taxes but then they sue The federal government to get them more deductions.
Posted on 7/17/18 at 3:42 pm to WPBTiger
That's a heck of a stretch of the 10th amendment... the feds can't set their own tax policy because, due to state decisions, some people may pay more than others.
Personally I think they should have eliminated the deduction completely... there is no reason for the feds to subsidize state taxes in this manner.
Personally I think they should have eliminated the deduction completely... there is no reason for the feds to subsidize state taxes in this manner.
Posted on 7/17/18 at 3:57 pm to WPBTiger
quote:
The states said the cap will depress home prices, spending, job growth and economic growth, and impede their ability to pay for essential services such as schools, hospitals, police, and road and bridge construction and maintenance.
Having to be responsible for your own tax and economic policies....THE HORROR!!
Posted on 7/17/18 at 4:02 pm to WPBTiger
"We have high state taxes for a reason - the other states pay for it! If you make our voters pay their actual taxes we charge them that'll hurt our party!"
-leftists at the state level
-leftists at the state level
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