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Old 12-27-2017, 10:35 PM   #91
scottw
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When the fed gubment cuts back on money to the states and the states cut back on funding to towns, the towns will play the Shell game and use the tax apraisor to magically tell you that your 300k house is now worth 400k. Local governments will also look to any other way to suck you dry.
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I thought government was benevolent?
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Old 12-27-2017, 11:35 PM   #92
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When the fed gubment cuts back on money to the states and the states cut back on funding to towns, the towns will play the Shell game and use the tax apraisor to magically tell you that your 300k house is now worth 400k. Local governments will also look to any other way to suck you dry.
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How about the fed not taking the lion's share of tax money out of the states in the first place. The situation that we are in now where states have to depend on getting money back that was taken from them in the first place by the federal government is ass-backwards. The federal government shouldn't be so heavily involved in state finances and state taxation.

It shouldn't be doing those things that were meant, constitutionally, for the states to do. Divesting itself from those responsibilities would tremendously lower its need to tax us and could leave the states to fend for themselves by structuring their own tax system to suit their resources.

Which would give the citizens of those states a much greater motivation and voice in shaping their tax structures. When they could no longer depend on the central government giving them tax breaks to compensate for their high state taxes, they would demand that their state taxes get lowered.
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Old 12-28-2017, 05:58 AM   #93
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Oh boy .. 1k for me .. Pass on a 1.5 trillion dollar to the debt. for my grandson . If they added 3 trillion to the debt. I could have gotten 2k maybe . Free money . I thought it was bad reaching into somebody else's pocket . Hmmmm and you call yourselves conservatives . Laughable .

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Old 12-28-2017, 06:44 AM   #94
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Property taxes in Connecticut are high so you don't have to be rich to hit the $10,000 level.
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your home needs to be assessed at about half a million to hit the $10k level in CT. That certainly isn't poor.

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Old 12-28-2017, 09:04 AM   #95
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your home needs to be assessed at about half a million to hit the $10k level in CT. That certainly isn't poor.
It varies a bit by town, but that's just about correct. And what's also correct, is that you're not poor if you have that house.

Also, the cap on state and local taxes is one piece of the tax reform, there are lots of moving pieces. I will also be hurt by the cap on state/local taxes (here in CT, I have a 5 year old Pathfinder and a 9 year old minivan, and I pay $1,000 a year to my town in car taxes, that's how CT works), so between that, my state income tax, and the tax on my home, I am a bit over 10k in total state/local taxes.

But other things in the bill, like the child tax credit, will more than offset that for me. I'll pay about $2,000 less than I would under the old tax rules.

You have to consider the combined effect of all the things that are changing, not just the pieces that make your taxes go up.
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Old 12-28-2017, 09:07 AM   #96
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your home needs to be assessed at about half a million to hit the $10k level in CT. That certainly isn't poor.
Also remember, the limit of 10k is for all state and local taxes (not just tax on your home), including car tax you pay to your town (I pay $1,000 a year for a 5 year-old Pathfinder and a 9 year-old minivan) and state income tax, which is around 5%-6% of income. If the total of all those taxes is over 10k, then you are hurt by the cap. But as I posted, there are other things changing that can offset that, especially if you have a couple of kids.
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Old 12-28-2017, 09:08 AM   #97
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it's for the children...
yeah, right...
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Old 12-28-2017, 09:09 AM   #98
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yeah, right...
why do you hate children?
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Old 12-28-2017, 09:28 AM   #99
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Also remember, the limit of 10k is for all state and local taxes (not just tax on your home), including car tax you pay to your town (I pay $1,000 a year for a 5 year-old Pathfinder and a 9 year-old minivan) and state income tax, which is around 5%-6% of income. If the total of all those taxes is over 10k, then you are hurt by the cap. But as I posted, there are other things changing that can offset that, especially if you have a couple of kids.
Yep, I'm aware of what it contains, still not coming close to the $10k, and I don't consider myself poor. I also don't see the doom and gloom of property taxes because I get to see a more direct benefit from them than I do from Federal.

My town does a great job with property taxes, we have new schools, new library, roads are in great shape, they do a good job plowing. We have an excellent police force that stays involved in the community and keeps crime down. Hell, a couple of years ago my wife mentioned to the town manager that the plows took out our mailbox, next day it was replaced.

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Old 12-28-2017, 01:14 PM   #100
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your home needs to be assessed at about half a million to hit the $10k level in CT. That certainly isn't poor.
I am certainly not poor, nor am I rich. I pay more than 10K. small house in an area very close to the water where my house is considered a tear down bc of the size. I was very lucky w/my house bc the area became hot (and continues to be)after I bought it. Very desirable area, with good schools. Paid off my mortgage quickly by not taking the standard 30 year term and made extra payments (mainly so I can stop paying flood insurance).

Can't complain (too much).
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Old 12-28-2017, 03:23 PM   #101
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Doom and Gloom predicted

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Old 12-28-2017, 06:26 PM   #102
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What I like best about the new plan is they got rid of the AMT, carried interest, reduced the number of brackets and above all simplified the code so much I can do my taxes on a single postcard.
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Old 12-29-2017, 05:31 AM   #103
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Oh boy .. 1k for me .. Pass on a 1.5 trillion dollar to the debt. for my grandson . If they added 3 trillion to the debt. I could have gotten 2k maybe . Free money . I thought it was bad reaching into somebody else's pocket . Hmmmm and you call yourselves conservatives . Laughable .

I have made the same point ... but was soundly scolded for not being grateful for my 1000.00 extra dollars a year .. and scolded for not being happy for those for whom the estate tax was repealed for

4,700 estate tax returns reporting tax liability were filed in 2013, out of 2.6 million total deaths in the United States. That means the estate tax hits roughly 0.2% of Americans, or 1 out of every 500 people who die.

Tax policy to help 0.2%.. the estate tax never made a rich persons family from being rich after they passed ... so let repeal it after 100 years on the books ?

but 1000.00 bucks a year is going to help working Americans ...
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Old 12-29-2017, 07:01 AM   #104
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Oh boy .. 1k for me ..

Free money . FREE MONEY is what government hands out to those who did not earn it

I thought it was bad reaching into somebody else's pocket .

Hmmmm and you call yourselves conservatives . Laughable


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I have made the same point ...

but 1000.00 bucks a year is going to help working Americans ...

you guys understand the very basic concept that it's YOUR money...right??? it's not FREE money....

I'm sure you guys are more than welcome to send your thousand bucks or whatever it is right to the US Treasury.....actually...send a little extra(maybe a measly additional thousand) with a note..."please use this to reduce the Federal Debt"

Last edited by scottw; 12-29-2017 at 07:16 AM..
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Old 12-29-2017, 08:50 AM   #105
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... but was soundly scolded for not being grateful for my 1000.00 extra dollars a year .. ...
You can give it to me if it's of no use to you.
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