senate Bill S. Joint Res. 50
Should an IRS Rule Restricting States’ Workarounds to the SALT Tax Cap be Repealed?
Argument in favor
The state and local tax (SALT) deduction is an important source of tax relief for residents of high-tax states, such as New Jersey. The SALT deduction cap hurts the middle class in high-tax states, and should be restored to ensure that families living in high-tax states aren’t punished for where they live.
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10/23/2019
Stop giving the wealthy handouts at the detriment to the working and middle class
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10/23/2019
I love how the Right says taxation is theft but loves the benefits from the Federal government from that same theft. In fact, Red States benefit much more from this theft than do Blue States at the Federal level. It is a fact that Red States dominate the top when it comes to getting more in federal money than what they give while the opposite is true for the Blue States. What the “tax reform” did was throw more burden on Blue States and the middle and working class. The fact is, taxes need to be progressive and the wealthy should pay a higher proportion of their income as per Adam Smith in the Wealth Of Nations (or what I call, The Capitalist Manifesto). He lays out the argument for progressive taxes and the wealthy paying a higher proportion in a concise and clear manner.
Taxation is not theft, it is the price we pay to insure everyone in a society is given protection and opportunity in a more equitable manner.
And this is for @Ronald and @JTJ:
https://wallethub.com/edu/states-most-least-dependent-on-the-federal-government/2700/#red-vs-blue
Tell us again how the Blue States are dependent on the Red States and how the Red States are subsidizing the Blue States. It seems the facts say otherwise. Amazing how those on the Right simply believe any lie that fits talking points but do no critical thinking, independent thought or bother to just simply check the facts.
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10/23/2019
Once again taxes are not fair no matter where you live. Here's my plan. Everyone making less than 30K per year should only be charged 1% total of all taxes. Between 30K to 100K--only 2%. These are families. A corporation should be charged 50% OF TOTAL TAXES. A huge corporation IS NOT A PERSON. IF YOU CANT PUT THEM IN JAIL THEY ARE NOT HUMAN.
Argument opposed
The SALT deduction primarily benefits those who are upper middle class or better and isn’t a major factor for most middle class families, most of whom don’t itemize their tax returns (and therefore can’t claim the SALT deduction). Allowing workarounds to the SALT cap benefits the rich at the expense of the poor.
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10/23/2019
People in these states need to stop voting for tax crazy democrats, and expecting the rest of us to subsidize their bad decisions.
10/23/2019
Democrats created this problem and now they want to raise your taxes to bail out there voters. Winning 2020. No new taxes
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10/23/2019
This bill sponsored by The Prince of Corrupt Democrats (I believe Adam Sciff is King) should not be voted on, and removed from consideration!
Just noted that my Democratic Senators voted to repeal a bill that capped a tax. Boy am I surprised that Democrats voted against a tax cap. LOL I guess Dems haven’t stolen enough of our money to waste yet.
Stop giving the wealthy handouts at the detriment to the working and middle class
People in these states need to stop voting for tax crazy democrats, and expecting the rest of us to subsidize their bad decisions.
I love how the Right says taxation is theft but loves the benefits from the Federal government from that same theft. In fact, Red States benefit much more from this theft than do Blue States at the Federal level. It is a fact that Red States dominate the top when it comes to getting more in federal money than what they give while the opposite is true for the Blue States. What the “tax reform” did was throw more burden on Blue States and the middle and working class. The fact is, taxes need to be progressive and the wealthy should pay a higher proportion of their income as per Adam Smith in the Wealth Of Nations (or what I call, The Capitalist Manifesto). He lays out the argument for progressive taxes and the wealthy paying a higher proportion in a concise and clear manner.
Taxation is not theft, it is the price we pay to insure everyone in a society is given protection and opportunity in a more equitable manner.
And this is for @Ronald and @JTJ:
https://wallethub.com/edu/states-most-least-dependent-on-the-federal-government/2700/#red-vs-blue
Tell us again how the Blue States are dependent on the Red States and how the Red States are subsidizing the Blue States. It seems the facts say otherwise. Amazing how those on the Right simply believe any lie that fits talking points but do no critical thinking, independent thought or bother to just simply check the facts.
Once again taxes are not fair no matter where you live. Here's my plan. Everyone making less than 30K per year should only be charged 1% total of all taxes. Between 30K to 100K--only 2%. These are families. A corporation should be charged 50% OF TOTAL TAXES. A huge corporation IS NOT A PERSON. IF YOU CANT PUT THEM IN JAIL THEY ARE NOT HUMAN.
Not surprised Cornyn & Cruz voted nay. They only care about keeping their wealth. They want the middle class gone. Only rich and poor left to serve thier needs. Both of you are a POS!
Democrats created this problem and now they want to raise your taxes to bail out there voters. Winning 2020. No new taxes
This bill sponsored by The Prince of Corrupt Democrats (I believe Adam Sciff is King) should not be voted on, and removed from consideration!
Just noted that my Democratic Senators voted to repeal a bill that capped a tax. Boy am I surprised that Democrats voted against a tax cap. LOL I guess Dems haven’t stolen enough of our money to waste yet.
The trump administration specifically structured this rule to punish jurisdictions that did not vote for him.
It is another example of using his office to further his personal goals of punishing his perceived enemies.
Deducting state and local taxes on federal income tax amounts to residents of low tax states subsidizing those of high tax states. We should not be doing this.
I am tired of tax breaks for the very rich and rules to limit breaks for ordinary voters. This repeal is not a big deal but a start.
I would like to see a repeal of the carries interest tax break for brokers and a higher tax on capital gains. Around 20 of the entire population are involved in the stock market.
Rescind the tax scam now. Restore sanity to tax laws and tax the wealthy and large businesses and corporations.
Another rich democrat from a very liberal state wants the rest of the countries tax payers to pay for their inability to curb spending. These states that have decided to raise taxes to pay for illegal immigrant health care, induced welfare, and buying votes should not be allowed to put their additional cost on the American tax payer. If they don’t want to pay high taxes vote out the liberal, socialist democrats who are in positions of power.
No, in fact, we should get rid of the SALT deduction entirely.
Maybe you should leave the high tax states... or cut off the socialist programs that require high taxes. The democrat states do this to themselves. You voted for these dems, live with your decision.
Let the high tax states deal with the problem they created.Abolish the IRS and go to a national sales tax or flat tax.
Restore the SALT deduction. It is unfair to cap it when there are districts with very high tax obligations that are not accounted for when SALT deductions are capped.
Normal, low tax states must not be forced to pay for benefits in high tax sates. I they don't like high taxes vote out high taxers, and vote in good politicians.
The deft republican tax cut caused this problem, fix it. I live in a state that has high taxes that afford my tax dollars to be spent across the nation. I don’t wanna live like the toothless backward Deliverance states. These states are parasites sucking and siphoning off my tax dollar, they need to send my tax dollars back to my state.