You are seriously mistaken - you must have no idea about how high property taxes can go. My property taxes are over the doubled standard deduction today. My income - social security and 10 k a year in savings. Yep worked hard paid off my house and the taxes are many times higher than when I bought my house. but I have to say the town services for seniors are fantastic from kids to rake and shovel to a senior bus to take me around town if and when I stop driving. Of course I have to pay state income tax on those savings too. and donât get me started on senior medical bills way too high deductibles even under medicare. This will basically force me to sell my house in what will probably be a horrible market with so many others selling at the same time and move to a lower taxes but much less providing state - I like the bus service to every where within walking distance and shopping in walking distance and restaurants around the corner and doctor half a block away, and then I can go into my heavily treed property and sit in the peace and beauty. All that gets lost in most other states.
Or, âStates that subsidize the moocher Red StatesââŚ
I read a Forbes compare and contrast article about the House and Senate tax reform laws. Some of the concepts I like, but there really isnât much in either the house or senate bill that truly helps the middle class. At best its changes are a push. My guess is if they put pencil to paper, a lot of middle class individuals are going to figure out that they pay more. I suspect eliminating the estate tax is in real jeopardy.
âŚfrom Sam Brownbackâs head to Mnuchinâs lips.
What you describe Sadieholly is an example of âlocal control,â something the Republicans used to think was important. Now they tell us that states that made local decisions to provide and pay for services should be punished by double taxation. At the same time the falsely say that the inheritance tax is double taxation because the person who died paid tax on their money and the person who receives the inheritance would have to pay taxes on their windfall income.
Just goes to show that Republican only believe in one thing. Paying off their corporate masters.
âThis is all about growth,"
Growth for whom?
Hereâs the reality of this bill which is being under reported: the only reason that many families will get a tax cut is because of the increased child tax credit and the new âfamilyâ credit. Why does this matter? Because the family credit is set to expire in five years, and the child tax credit goes away when children reach age 17.
If you look at examples of typical families comparing the current law with proposed changes, you will see that many families have a HIGHER tax liability under the new law, but then you apply these credits and thatâs what gives them a tax cut. Again, these credits will be short-lived and then the middle class will be stick paying higher tax bills forever after that. Meanwhile, corporations and the super rich will permanently benefit from lower tax rates and the elimination of the estate tax.
That leaves any state and city income taxes, which are still an important matter in certain blue states.
Correct: itâs a crucial issue for blue states. You canât have progressive legislation without revenue to pay for it. You canât have revenue without state and city taxes. An ancillary but brazen purpose of this tax hike bill is to cripple the ability of blue states to provide decent healthcare, education and transportation for their citizens. The only reason property taxes are on the table for exemption is that red states and suburban (ie white) districts rely heavily on property taxes.
This is all part of the Grover Norquist âwet dreamâ to âdrown the government in a bathtub.â Lower tax revenues, force budget cuts and let the âinvisible hand of the marketâ take over. Because that worked out so well before the New Deal. These really are the mole people, to quote Mr. Charles Pierce. How did this tactic work out for the state of Kansas, btw?