OT Do you pay more or less in taxes under the new tax rates and deductions

I hope your accountant finds some way to reduce your tax bill.

But I have a different outlook on your being double taxed. The way I see i t is that there should be no deductions for local property taxes and local income taxes. Your local taxes pay for local government and local services . And as I see it, all the things your local taxes pay for have nothing to do with what the federal taxes pay for. that

If you pay high local taxes , you should be getting excellent local governm ent. And why should the federal government pay ( by giving a tax deduction ) for your local services. that that

that

I realise not many think like that. But can you think of a logical reason for local taxes being able to be deducted from federal taxes? The same ap plies to the deduction of mortgage payments. On the other hand I can see t he school expenses being deductible. In that having an educated population benefits the whole nation.

Dan

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dcaster
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Where? Florida? Ranked WORST in State ranking, best-to-worst places to live: Arizona? You ranked 47th, pretty poor. MA is ranked 30th.

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I'd certainly not want to move to some of the better-ranked states: Arkansas #19, Alaska #16, or Texas #11, Louisiana #5, or Michigan #1.

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Reply to
Winfield Hill

I doubt seriously that Win will need to pay $10K MORE Federal tax on the SAME AMOUNT OF INCOME as last year.

Think over the graduated rate schedules and it would take a SUBSTANTIAL drop in deductibles to make up $10K in TAX.

But then there's reality... leftists tend to exaggerate trying to make their pointless points >:-}

I only paid $877 in Federal tax last year, $0 to the State of Arizona... actually got $50 from the State for being a senior ;-)

(Admittedly a substantial portion of my income is untaxed retirement benefits :-) ...Jim Thompson

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| James E.Thompson                                 |    mens     | 
| Analog Innovations                               |     et      | 
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Reply to
Jim Thompson

Ranked by whom? Usually teacher's unions which never take kindly to competition.

That's pathetic, Win... how hard did you have to work to find a bird-brain ranking like that? Arizona has some of the best-ranked resorts and vacation spots in the WORLD... and economical yet high quality housing... virtually every house has a swimming pool.

(Plus the authors look like Massa2shits fairies to me >:-}

Well then, stop bitching about the Massa2shits STATE TAXES you have to pay... it's your choice.

I "lived" in Massa2shits for 4 years... I'd rather suck piss thru an illegal Californica straw than "live" in Massa2shits. ...Jim Thompson

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| James E.Thompson                                 |    mens     | 
| Analog Innovations                               |     et      | 
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Reply to
Jim Thompson

FACT: Those are not the taxes he is referring to, shithole neck o the woods s*****ad.

Reply to
Long Hair

That's what liberalism is all about: asking wealthier people to help poor people. Well, demanding it actually. Would you want poor people to starve because their neighbors voted Republican?

Paying state tax and paying Federal tax is not double taxation. Other people subsidizing your high state taxes is fundamentally unfair.

We should tax consumption, not income and certainly not wealth.

Income and wealth are nothing to resent when neither is being spent. It's just some bits spinning on a hard drive somewhere.

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Reply to
John Larkin

Sorry Jim, But I did better than you, I only paid $872 in Federal Taxes! About 2/3 business income and 1/3 dividends or Cap gains. I tax deferred about $22k and have two kids still on my dole, plus some wonderful college tuition 'Tax Credits'. Of course the tuition costs come with the credits. I paid $0 state tax, sounds like I should get money if I'm living in the 50th rated, state of Florida. Maybe we could get Massachusetts to subsidize us. I'll have to read that article, if Florida is bad, living in the Redneck Riviera section must be really bad. Mikek

PS, I did get to pay both halves of FICA. :-( Hey, I did get to deduct 1/2 of that off my income.

Reply to
amdx

it is that there should be no deductions for local property taxes and loca l income taxes. Your local taxes pay for local government and local servic es. And as I see it, all the things your local taxes pay for have nothing to do with what the federal taxes pay for.

nment. And why should the federal government pay ( by giving a tax deducti on ) for your local services. that that

n for local taxes being able to be deducted from federal taxes? The same applies to the deduction of mortgage payments. On the other hand I can see the school expenses being deductible. In that having an educated populati on benefits the whole nation.

Dan, I think I agree with most of that.. but I don't see how the school expenses work. ~1/2 my NY property tax bill is for the local school district. (I love most of the people in the local schools, so don't begrudge the extra cost.) If you make school taxes exempt, then states will increase the fraction the y collect as 'school' taxes. It would have been nice to phase the new taxes in over a few years, let people know what was coming. For me that doesn't matter, but there's always someone near the edge.

I do hope more jobs, growth, wages..etc come from the corporate tax cut. So far so good!

George H.

Reply to
George Herold

I think I'll be somewhere between $4K and $6K less.

Reply to
krw

Just more crumbs.

Reply to
krw

"Jim Thompson" wrote in message news: snipped-for-privacy@4ax.com...

And here we have Jim "Self Admittedly a Leftist" Thompson using his favorite hyperbole again.

Say, weren't you going to murder like, what, half of the posters here, at some time or another?

Oh, I'm sure you conveniently "didn't intend a threat" on any of those occasions... or even don't happen to remember a single instance of such in history.

You're just too chicken-shit to follow through. But hey, time is running out... and look on the bright side, at this point, they can't jail you for long, can they? ;-)

Tim

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Reply to
Tim Williams

It says that it rains 10 straight months in Seattle. Truth is that it only rains 152 days per year or about 5 months.

Yeah, I question their qualifications.

boB

Reply to
boB

An attendee (from Seattle) at one of the seminars I gave at Atmel, Colorado Springs, quipped that what you would suppose to be his nice sun tan was actually rust ;-) ...Jim Thompson

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| James E.Thompson                                 |    mens     | 
| Analog Innovations                               |     et      | 
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Reply to
Jim Thompson

Tom, Why don't you do us all a favor... go sit in the corner and suck your thumb until you grow up? ...Jim Thompson

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| James E.Thompson                                 |    mens     | 
| Analog Innovations                               |     et      | 
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Reply to
Jim Thompson

Make that TIM :-( ...Jim Thompson

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| James E.Thompson                                 |    mens     | 
| Analog Innovations                               |     et      | 
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Reply to
Jim Thompson

That's how I see it. The fact to someone's state has high taxes for services the locals wanted has nothing to do with the person's federal obligation.

Slight correction: theoretically, those exist because the person has

*already* produced something society wanted, and sold it.

So, the person being envied is being envied for something s/he contributed, that people wanted and paid she/him for. Cheers, James Arthur

Reply to
dagmargoodboat

Most of our black population is concentrated in the South, so it's a net benefit to black families.

There are many places down South where a working man can buy a very decent house in a nice neighborhood and raise a small family on ~$20k a year.

Probably inconceivable to y'all North Easterners, but true.

Cheers, James Arthur

Reply to
dagmargoodboat

How can you know about the South when all you've ever experienced in your life is Southy ?>:-} ...Jim Thompson

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| James E.Thompson                                 |    mens     | 
| Analog Innovations                               |     et      | 
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Reply to
Jim Thompson

Ancient West Coast trope, which I remember from the early '70s st the latest.

Cheers

Phil "All that green has to come from somewhere" Hobbs

Reply to
pcdhobbs

After six months in Vermont, a (then) recent import from Washington said that up until his move, he thought Seattle was the dreariest place on the planet.

Reply to
krw

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