Skeptical on the tax cut by Trump
 

I still don’t think this is going to happen. Somebody is going to muck this up

It’s going to soak blue state populations so hard......something is going to happen yet.

About 40 States are about to get serious personal income hair cuts. They get to deduct State and Local Taxes from their Federal liability. If this bill comes out of committee as it went in.....those deductions are gone.

Especially those states where the state income tax is exorbitant. California and NY to name a few.

Somebody will get bribed to throw a monkey wrench into this thing yet............

That will never happen. Those deductions will remain.

I redid my taxes from last year using these new figures and I'll keep $6600 more of my money:headbanger:

That's what I'm thinking...even though it's always the libs crying and whining about tax loopholes.

Wow, just a couple days ago you said you re-did them and would save $5K. Can't wait to check back with you this weekend when you'll be saving $8K! :jump: :jump:

you start with a higher standard deduction, so will only get screwed if have high mortgage interest on 2 homes and donate big bucks to charities like the Clinton Foundation.

You mean the track's money. :)

One thing that you never hear discussed about the SALT deductions is that many taxpayers who have high SALT deductions are paying the Alt Min Tax and consequently don't get to write those deductions off in any event. Losing that deduction is not much of a loss. Not having to pay the Alt Min Tax will be to their benefit.

Every tax bracket should have a Minimum Tax requirement. EVERY BRACKET.

just more paperwork since half of the country GETS money from everyone else

Yep, the minimum tax right now for the lower brackets is a negative number.

I don't care if people come out ahead when benefits and stuff are factored in but... everyone should have a minimum tax liability based on income.

38% of Americans pay no tax at all

That’s a problem

No FEDERAL tax.
But they pay PAYROLL tax, SALES tax, etc.

So what? Everyone else pays those taxes too.