NY Democrats Demand State and Local Tax Breaks for Billionaires be Reinstated! (You KNEW this was coming...)
(www.bloomberg.com)
🛑 Corrupt Commies 🛑
Comments (126)
sorted by:
DEFAULT COMMUNITIES
•
All
General
AskWin
Funny
Technology
Animals
Sports
Gaming
DIY
Health
Positive
Privacy
It’s not for billionaires it’s for people who itemize their deductions to write off state and local taxes. So if you make 80k and own a house you would use it. But yeah the state should just lower taxes instead of doing this
these are federal tax deductions
IOW what you pay in states taxes would be deducted from your federal taxes
but only of you are a billionaire in a blue state
That’s what I’m saying if your state/local tax burden is >10k you are not necessarily a billionaire. That’s how much property taxes cost alone for most houses that are not in the boonies. It’s ridiculous but I agree to keep the salt deductions capped, because they are subsidizing the high cost of ny by reducing federal tax revenue from there. Without it ny would have to lower taxes or become definct. Problem is i hate the state and federal governemnt and dont think either of them should get any taxes
without SALT, you are paying taxes on your taxes. so, no matter what the argument, it needs to be re-instituted
i don't think there should be a cap on it
My issue is NY being to go to the Federal government and decide which states get the tax break and which don't
And fuck NY. If they would stop wasting some of the money and stealing the rest, they would not be going down the toilet
I am against income taxes. We should go totally value based- basically sales taxes
that bases taxes on what you are able to spend
and it would encourage savings
Agree that we should scrap income tax and go to a consumption tax. But with the system we currently have, SALT disproportionately benefits high tax (read: Democrat) areas, at the expense of lower tax (read: Republican) areas who don’t get as much federal tax deductions out of it. If New Yorkers want to pay less in taxes, they should throw DiBlasio and Cuomo’s asses out and elect someone who will cut spending and lower their taxes.
It only is iseful if your state and local taxes (income plus property) are above the stabdard decution right? Unless you already itemize