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| Political Threads This section is for Political Threads - Enter at your own risk. If you say you don't want to see what someone posts - don't read it :hihi: |
11-12-2021, 02:52 PM
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#1
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Registered User
Join Date: Jul 2008
Posts: 20,441
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democrat bill gives big tax cut to very wealtny
the democrat spending bill
increases the deduction you can take for state and local taxes, from $10,000 to $80,000.
If you pay $80,000 in state and local taxes, you are exceedingly wealthy. The democrats are looking to meaningfully decrease the federal tax bill paid by these wealthy folks.
Interesting.
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12-06-2021, 03:08 PM
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#2
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Registered User
Join Date: Jul 2004
Posts: 10,302
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Wow, is this true?
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12-06-2021, 03:27 PM
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#3
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Registered User
Join Date: Jul 2008
Posts: 20,441
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Quote:
Originally Posted by PaulS
Wow, is this true?
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kind of old, but yes. it’s a huge tax cut for very wealthy people. i don’t think too many people in the bottom half, pay state and local taxes of $80,000 a year.
Posted from my iPhone/Mobile device |
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12-06-2021, 03:17 PM
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#4
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Registered User
Join Date: Nov 2003
Location: RI
Posts: 21,469
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We’ve already covered this Jim.
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12-06-2021, 03:27 PM
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#5
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Registered User
Join Date: Jul 2008
Posts: 20,441
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Quote:
Originally Posted by spence
We’ve already covered this Jim.
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yes i saw your spin.
Posted from my iPhone/Mobile device |
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12-06-2021, 04:17 PM
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#6
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Registered User
Join Date: Nov 2003
Location: RI
Posts: 21,469
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Quote:
Originally Posted by Jim in CT
yes i saw your spin.
Posted from my iPhone/Mobile device
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No spin, I told you exactly what the reasoning was. |
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12-06-2021, 04:22 PM
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#7
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Registered User
Join Date: Jul 2008
Posts: 20,441
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Quote:
Originally Posted by spence
No spin, I told you exactly what the reasoning was.
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the reason i g is to give a huge tax cut to wealthy people
in blue states, which bus exactly what it does.
your spin compared the impact under hypothetical assumptions you made about what would
expire in 5-10 years. tax cuts usually have expiration dates now, but almost never expire, and we are all
stunned that you relied on assumptions that painted this as something other than a tax cut. we’re all very shocked.
Posted from my iPhone/Mobile device |
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12-06-2021, 04:23 PM
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#8
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Registered User
Join Date: Nov 2003
Location: RI
Posts: 21,469
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Quote:
Originally Posted by Jim in CT
the reason i g is to give a huge tax cut to wealthy people
in blue states, which bus exactly what it does.
your spin compared the impact under hypothetical assumptions you made about what would
expire in 5-10 years. tax cuts usually have expiration dates now, but almost never expire, and we are all
stunned that you relied on assumptions that painted this as something other than a tax cut. we’re all very shocked.
Posted from my iPhone/Mobile device
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No, it was a compromise with progressives that didn't want the SALT cap to go to zero in 2025. Issue is moot as it likely won't survive the Senate. |
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12-06-2021, 03:29 PM
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#9
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Registered User
Join Date: Jul 2008
Posts: 20,441
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