Skeptical on the tax cut by Trump

[Fager Fan]

Originally Posted by elysiantraveller

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.

I do. You shouldn't ever get a tax refund for more than you paid in. At most, it should make a person owe $0.

But otherwise agree with you that everyone should at least have a small sum of tax liability.

[Fager Fan]

Originally Posted by JustRalph

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............

I can't say I can muster up too much sorry for CA and NY, particularly CA. Liberal bastion who lives way beyond its means and will be expecting a bailout by the Feds.

I'm not sure why this tax deduction exists in the first place. To try to even the playing field a little bit with the states that have no state income tax? Maybe it'd be better for those in the states with high state taxes to feel it a little more. Then maybe they'll rein in spending else lose more residents.

[JustRalph]

Originally Posted by Burls

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

What the hell is "payroll tax?”

[barahona44]

Originally Posted by Fager Fan

I can't say I can muster up too much sorry for CA and NY, particularly CA. Liberal bastion who lives way beyond its means and will be expecting a bailout by the Feds.

I'm not sure why this tax deduction exists in the first place. To try to even the playing field a little bit with the states that have no state income tax? Maybe it'd be better for those in the states with high state taxes to feel it a little more. Then maybe they'll rein in spending else lose more residents.

High income states don't even come close to getting back from the federal government what they send in.Blue states have been subsidizing red states for years.

Is a little graditude too much to ask?

But most welfare recipients just put their hand out with one simple word.

"More"

[Fager Fan]

Originally Posted by barahona44

High income states don't even come close to getting back from the federal government what they send in.Blue states have been subsidizing red states for years.

Is a little graditude too much to ask?

But most welfare recipients just put their hand out with one simple word.

"More"

What are you talking about? That's crazy to consider federal taxes as subsidies.

[JustRalph]

Originally Posted by barahona44

High income states don't even come close to getting back from the federal government what they send in.Blue states have been subsidizing red states for years.

Is a little graditude too much to ask?

But most welfare recipients just put their hand out with one simple word.

"More"

You’re doing apples to oranges.......

Two different issues all together.

[davew]

Originally Posted by JustRalph

What the hell is "payroll tax?”

social security deductions, Medicare, some states unemployment....

[elysiantraveller]

Originally Posted by Fager Fan

I do. You shouldn't ever get a tax refund for more than you paid in. At most, it should make a person owe $0.

But otherwise agree with you that everyone should at least have a small sum of tax liability.

You're not reading me right. We agree. There needs to be a minimum tax floor per bracket. $0-12,000 for instance needs to pay something. I don't care if its only $250 for the year and the rest is refunded... everyone should put in the till.

[barahona44]

When you're getting more than you're sending out,it makes it easier to lower your state's tax burden and more difficult when you don't.I don't see how you can think otherwise.Seniority rules in Congress ensures that money gets steered to those states.And that usually(but not always)favors red states as they are less likely to turn away incumbents.

I'm not questioning the need for states like California, New Jersey and New York to tighten their belts.EVERYBODY needs to tighten their belts.

[AndyC]

Originally Posted by barahona44

High income states don't even come close to getting back from the federal government what they send in.Blue states have been subsidizing red states for years.

Is a little graditude too much to ask?

But most welfare recipients just put their hand out with one simple word.

"More"

How exactly is that measured? Does social security count as getting back from the government? How is the cost of the military apportioned? It seems to me that you could come up with any answer you wanted.

[boxcar]

Originally Posted by JustRalph

You’re doing apples to oranges.......

Two different issues all together.

Exactly right! What's really going on is that this state tax deduction is a loophole that favors mostly the rich -- the very thing libs decry whenever the 15% tax bracket is being talked about to being reduced to 12% so that lower to low-middle income families would actually see some real money in their pockets.

[zico20]

Originally Posted by Fager Fan

I can't say I can muster up too much sorry for CA and NY, particularly CA. Liberal bastion who lives way beyond its means and will be expecting a bailout by the Feds.

I'm not sure why this tax deduction exists in the first place. To try to even the playing field a little bit with the states that have no state income tax? Maybe it'd be better for those in the states with high state taxes to feel it a little more. Then maybe they'll rein in spending else lose more residents.

But only if Republicans move out of state. We do not need liberals moving into red states and polluting their new state government with massive tax and spending increases.

[zico20]

Originally Posted by elysiantraveller

You're not reading me right. We agree. There needs to be a minimum tax floor per bracket. $0-12,000 for instance needs to pay something. I don't care if its only $250 for the year and the rest is refunded... everyone should put in the till.

I agree with you. If you only make 1000 dollars then pay maybe 50 bucks in taxes. Something, anything so you can be a contributing member of society.

[elysiantraveller]

Originally Posted by zico20

I agree with you. If you only make 1000 dollars then pay maybe 50 bucks in taxes. Something, anything so you can be a contributing member of society.

Exactly.

Lowest bracket pays 1-3%... I don't care... Just something...

Part of being a Citizen and taking ownership for the role your government plays in your life.

[linrom1]

Originally Posted by JustRalph

38% of Americans pay no tax at all

That’s a problem

Why is this a problem? Of course if one eliminated all tax on super wealthy than it would be great?