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Started By
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re: Vote for budget in happening now in House. *******PASSED!!!!!
Posted on 10/26/17 at 11:53 am to Homesick Tiger
Posted on 10/26/17 at 11:53 am to Homesick Tiger
quote:Too bad, so sad. The rest of us without those huge right offs have been floating their share for them in federal taxes.
But Republicans from states like New York, New Jersey, Illinois and California argued that their constituents rely on the deduction. While some are open to making changes to SALT -- such as capping the income level at which taxpayers could use it -- others don't favor any kind of compromise and want tax writers to leave SALT completely alone.
If they don't like it, elect responsible local legislators that will reduce your in-state tax burden.
This post was edited on 10/26/17 at 11:55 am
2
Posted on 10/26/17 at 11:58 am to HubbaBubba
Did you see where Peter King voted no? Says it will hurt his district.
Posted on 10/26/17 at 12:07 pm to Homesick Tiger
quote:No, I'm sitting in an airport ignoring CNN and paying attention to my TD brethren.
Did you see where Peter King voted no? Says it will hurt his district.
Posted on 10/26/17 at 12:10 pm to HubbaBubba
We're here to please. I see Amash voted it against it also. No surprise from him but King surprised me.
Posted on 10/26/17 at 12:17 pm to Homesick Tiger
quote:Why would it surprise you that King doesn't want the tax deductions that his constituents have use because their state is taking their asses to the cleaners? In the end, him making a political decision based on the desires of his constituents is what he should be doing.
No surprise from him but King surprised me.
Thankfully there were enough Rep. Congressmen to outweigh those from CA, NY & NJ.
This post was edited on 10/26/17 at 12:18 pm
Posted on 10/26/17 at 12:18 pm to Bamatab
Tax reform won't get done if they try to remove SALT credits in my opinion.
Posted on 10/26/17 at 12:21 pm to Jjdoc
This is the first budget passed in 8 years, why haven't I heard how much it is and who gets what spending? Is anything cut?
Posted on 10/26/17 at 12:26 pm to HubbaBubba
quote:
Too bad, so sad. The rest of us without those huge right offs have been floating their share for them in federal taxes.
You know blue states pay more than red states in federal taxes yes?
Posted on 10/26/17 at 12:27 pm to Jake88
quote:
This is the first budget passed in 8 years, why haven't I heard how much it is and who gets what spending? Is anything cut?
The budget is not passed. This is just a motion to send the budget framework to committee. It’s a procedural hurdle, but a big one. It effectively greases the skids to formally passing the budget.
Posted on 10/26/17 at 12:27 pm to Janky
quote:
Tax reform won't get done if they try to remove SALT credits in my opinion.
It's going to be really hard to do without cutting the SALT credits, especially if the 401K limits are off the table as per Trump. Hopefully they can afford the vote loses from the high state tax Representatives, and still have the votes to pass it with the SALT credits cuts.
This post was edited on 10/26/17 at 12:29 pm
Posted on 10/26/17 at 12:30 pm to Bamatab
quote:
Why would it surprise you that King doesn't want the tax deductions that his constituents have use because their state is taking their asses to the cleaners? In the end, him making a political decision based on the desires of his constituents is what he should be doing.
So you say frick it to what the vast majority of Reps. nationwide want, to appease a few handfuls of local people? Yep, that's why shite never gets done. If he were a state senator or representative, I'd definitely agree with you. However, when you're elected to a national office, I think the fate of the nation comes before the fate of your constituents.
Posted on 10/26/17 at 12:32 pm to GumboPot
Then there is some shitty reporting. But I suppose I shouldn't be surprised. Sometimes I simply don't feel like following extremely closely.
Posted on 10/26/17 at 12:43 pm to Homesick Tiger
quote:
So you say frick it to what the vast majority of Reps. nationwide want, to appease a few handfuls of local people? Yep, that's why shite never gets done. If he were a state senator or representative, I'd definitely agree with you. However, when you're elected to a national office, I think the fate of the nation comes before the fate of your constituents.
And here I thought that the title Representative meant that they represented their constituents. I guess I was wrong.
You are right that it's why we haven't been able to get crap done, especially on the Republican side (because the Republicans are a lot more conscious about their viewpoints, and their constituents). And it pisses me off as well. But I can't fault a representative from California who doesn't want to remove tax credits from a people that are already being taxed to hell and back by their state. Again, it sucks, but it is what it is.
Posted on 10/26/17 at 12:43 pm to Jake88
Are the discussions on the 401k deduction on lowering the limit or requiring taxes to be paid on all income placed in your 401k (i.e. they are requiring us to count it in our taxable income)?
Currently, the limit is the first $18,000 into 401k are tax exempt, right?
That means at 5% of your salary, you'd have to make over $360k in taxable income before this affects you. Are the rumors that the limit will be lowered or that the entire option of pre-tax for 401k contributions will be removed?
Currently, the limit is the first $18,000 into 401k are tax exempt, right?
That means at 5% of your salary, you'd have to make over $360k in taxable income before this affects you. Are the rumors that the limit will be lowered or that the entire option of pre-tax for 401k contributions will be removed?
Posted on 10/26/17 at 12:45 pm to SSpaniel
quote:
Uh.. who?
Probably McCuck
Posted on 10/26/17 at 12:47 pm to Bamatab
quote:
Again, it sucks, but it is what it is.
Posted on 10/26/17 at 12:48 pm to TaderSalad
SALT deductions could just be capped to a reasonable amount. Most places that are whining about this are the ones with the highest incomes as well in Cali and New York.
Question is will it hurt Louisiana since state income tax there is roughly 6%?
Question is will it hurt Louisiana since state income tax there is roughly 6%?
Posted on 10/26/17 at 12:49 pm to Jake88
quote:
Then there is some shitty reporting. But I suppose I shouldn't be surprised. Sometimes I simply don't feel like following extremely closely.
I know...I get it. The written MSM news format is frustrating. You get to the brass tax about the penultimate (second to last) paragraph.
Despite their liberal bias I kind of like the Daily Mail. At least they give you 5 or 6 bullet points to a story and then you can decide whether or not to delve into the details. I just like that format better.
Posted on 10/26/17 at 12:51 pm to Geauxgurt
quote:
Are the discussions on the 401k deduction on lowering the limit or requiring taxes to be paid on all income placed in your 401k (i.e. they are requiring us to count it in our taxable income)?
They won't touch 401Ks. That's off the table.
Sources: Trump and Rubio.
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