Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

[dxmnkd316]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

I might pass it along. The trouble is when you get state houses when they change yearly. Records can be conflicting and just outright missing.

[The Sicatoka]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

I might pass it along. The trouble is when you get state houses when they change yearly. Records can be conflicting and just outright missing.

Give it with a disclaimer that you get "original" credit but they have to validate and maintain. (Again, not looking to give away or make work for you.)

[ScoobyDoo]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

They could have given the entire tax cut to income under 150/300 for everybody. Then, they could have given the corporate tax cut down to 20% and made it revenue neutral by getting rid of rich people and corporate loopholes. Instead they gave it to the rich. That's trickle down. I heard a Republican on MSNBC this weekend being interviewed. He said giving the tax cut to incomes below 150/300 (even though everyone has income below 150/300K is socialism.

I rest my case.

[alfablue]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

I’m going to repost my astonishment that this tax bill taxes imported goods from an America territory, made by Americans, and who are struggling to recover from a natural disaster.

We happily send troops to kill people we don’t like, but we can’t support our fellow Americans who have dire need, AND we kill off the only way for their economy to really recover.

What kind of nation are we!?!!??

[dxmnkd316]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

Are they brown?

[ScoobyDoo]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

I’m going to repost my astonishment that this tax bill taxes imported goods from an America territory, made by Americans, and who are struggling to recover from a natural disaster.

We happily send troops to kill people we don’t like, but we can’t support our fellow Americans who have dire need, AND we kill off the only way for their economy to really recover.

What kind of nation are we!?!!??

A racist one.

[FreshFish]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

The more I look at this, the more the elimination of the SALT deduction seems like it really screws the areas with higher property values and property taxes. Interesting those are mostty blue states. I wonder if that was a deliberate F/U by the republicans in Congress.

Be sure to pre pay your 2018 property taxes if you can.

To me, the more interesting question is, "how did state income taxes ever become deductible against the federal income tax in the first place?" Something about that setup just doesn't sit right with me (and I live in a higher-tax rate state). I just don't see any decent economic justification for it.

As far as I can tell, it was simply because there were more representatives from states that had state income taxes than there were from states that did not have state income taxes.

[Kepler]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

To me, the more interesting question is, "how did state income taxes ever become deductible against the federal income tax in the first place?" Something about that setup just doesn't sit right with me (and I live in a higher-tax rate state). I just don't see any decent economic justification for it.

Rich people live in NYC.

I'll take the elimination of the SALT write off if we can go further and make all the states pay their own freight. In the long run that's a win for the civilized portion of the country.

The ideal solution is, of course, secession. We'd be rid of you, which would be great, and you'd be rid if us which I can only assume you'd love as well though frankly Scarlet I don't give a ****.

Say what you will about the relative merits of either, Texas and New York do not belong in the same country. The Czechs and Slovaks figured this out. So can we.

[unofan]

To me, the more interesting question is, "how did state income taxes ever become deductible against the federal income tax in the first place?" Something about that setup just doesn't sit right with me (and I live in a higher-tax rate state). I just don't see any decent economic justification for it.

As far as I can tell, it was simply because there were more representatives from states that had state income taxes than there were from states that did not have state income taxes.

You get to deduct either income or sales taxes. If you live in a non-income tax state, you will deduct your sales taxes.

You also get to deduct federal income tax from your state tax, and have to claim federal refunds as income.

[FreshFish]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

They could have given the entire tax cut to income under 150/300 for everybody.

um....don't you actually have to pay income tax in the first place before you can have a tax "cut"??

[trixR4kids]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

To me, the more interesting question is, "how did state income taxes ever become deductible against the federal income tax in the first place?" Something about that setup just doesn't sit right with me (and I live in a higher-tax rate state). I just don't see any decent economic justification for it.

As far as I can tell, it was simply because there were more representatives from states that had state income taxes than there were from states that did not have state income taxes.

Because there's clearly a correlation with efficient cities that attract talented people/businesses who pay the majority of federal taxes, and higher tax rates to fund education, infrastructure, and public transit among other things. If you're already paying high taxes and creating the majority of the GDP for this country and your locale pays more in taxes than it takes back in federal subsidies, why exactly shouldn't they get some kind of discount?

The biggest problem with this is they're gonna pressure these cities/states to lower their taxes. We all have seen how well that's worked for Kansas and even WI.

um....don't you actually have to pay income tax in the first place before you can have a tax "cut"??

We both know what he meant. We would've been better off in terms of improving our economy by blowing a 1.5 trillion hole in the deficit and literally just handing lower/middle class people free money. Or investing it in infrastructure, healthcare/CHIP, or any number of federal programs that could've been funded 20x over.

[unofan]

um....don't you actually have to pay income tax in the first place before you can have a tax "cut"??

Do you not understand that if you lower the bottom 6 tax brackets, rich people will still see their taxes cut, too?

Or do you not understand how marginal income brackets work?

Put another way, the rationale for lowering the highest tax bracket is grade A malarkey.

[ScoobyDoo]

um....don't you actually have to pay income tax in the first place before you can have a tax "cut"??

Simple Math

[ScoobyDoo]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

Do you not understand that if you lower the bottom 6 tax brackets, rich people will still see their taxes cut, too?

Or do you not understand how marginal income brackets work?

Put another way, the rationale for lowering the highest tax bracket is grade A malarkey.

It is interesting how we can tax the first 120,000 (FICA) dollars of everyone's income and it's free after that but we can't say that everyone's first 40,000 of income is free from income tax. Boggles the mind.

[dxmnkd316]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

To me, the more interesting question is, "how did state income taxes ever become deductible against the federal income tax in the first place?" Something about that setup just doesn't sit right with me (and I live in a higher-tax rate state). I just don't see any decent economic justification for it.

As far as I can tell, it was simply because there were more representatives from states that had state income taxes than there were from states that did not have state income taxes.

Because you can’t tax what you don’t have. If a state decides to tax you 100% of your income, you can’t owe anything to the feds because you have no money. It doesn’t make sense to tax income you don’t actually have.