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Would it be accurate and fair?
Posted on 11/18/17 at 8:25 am
Posted on 11/18/17 at 8:25 am
To conclude that many of the southern and Midwestern states with lower state and local taxes have subsidized NY, CA, and other liberal states by paying a much higher per capita federal tax rate over several decades. Much of those state and local taxes provide those citizens with supplemental infrastructure, Healthcare, child care and welfare support, and many other state budgetary items that the other states don't enjoy.
If so, why doesn't the conservative voice express this in it's argument over the current tax reform??
If so, why doesn't the conservative voice express this in it's argument over the current tax reform??
1
Posted on 11/18/17 at 10:08 am to TiggerB8t
I don't know. It's a great question. I'd like to learn more about this.
As an aside, IMHO the Senate will not pass this Tax Reform Bill. The bill will be defeated in the Senate.
One reason is because the notion to end tax deductions for paid state tax might be a good idea but it is too much of a change of the status quo. Senators won't vote for such radical change to the way that things have been done for so long.
As an aside, IMHO the Senate will not pass this Tax Reform Bill. The bill will be defeated in the Senate.
One reason is because the notion to end tax deductions for paid state tax might be a good idea but it is too much of a change of the status quo. Senators won't vote for such radical change to the way that things have been done for so long.
Posted on 11/18/17 at 11:15 am to Champagne
Agree - no different than the mortgage interest deduction - damned iif they do and damned if they don't - I like the idea of having a cap of $1m versus lower - that way only the upper middle class get affected. $500k cap probably has some residual negative effect on the lower priced houses as it logically will put downward pressure on all houses, especially those priced close to the cap - current $500k houses will be competing with reduced prices on current $600-800k houses. That's my opinion.
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