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Yo_Mama_Been_Loggin

(108,485 posts)
Sun Feb 24, 2019, 03:45 PM Feb 2019

Lower refunds amplify calls to restore key tax deduction

Complaints about lower refunds and higher taxes are amplifying calls from Northeast and West Coast leaders to do away with the GOP tax law’s limit on the deduction for state and local taxes.

The limit on the tax break, known as the SALT deduction, has been one of the most controversial provisions of the tax law, with lawmakers from both parties in high-tax states such as New York and New Jersey arguing that the deduction cap unfairly punishes their voters.
A group of Democratic governors held a press conference on Friday to press Congress to restore the full SALT deduction.

"It is appropriate that we're having this discussion in the middle of tax season as [the deduction cap] is gutting our middle class and it's just plain wrong," said New Jersey Gov. Phil Murphy.

The governors' press conference comes after New Jersey Democrats Rep. Bill Pascrell and Sen. Bob Menendez earlier this month introduced a bill to restore the full SALT deduction. It's one of several bipartisan bills that lawmakers have introduced this year to restore the full SALT deduction, and it has the backing of a number of lawmakers in the Northeast, Illinois and California, including Rep. Chris Smith (N.J.), one of the few House Republicans who voted against the 2017 law and remains in office.

In an op-ed for The North Jersey Record on Friday, Pascrell and Menendez called the SALT deduction cap “a main culprit for the tax sticker shock in New Jersey and other high cost-of-living states.”

https://thehill.com/policy/finance/431227-tax-filing-season-heats-up-fight-over-key-deduction

It's very simple. The Repukes want the blue states to continue subsidizing the red states as they've always done.

18 replies = new reply since forum marked as read
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Lower refunds amplify calls to restore key tax deduction (Original Post) Yo_Mama_Been_Loggin Feb 2019 OP
Also cause Trump's dickhead knuckle-dragging cult members love that Trump pwned teh libtards mr_lebowski Feb 2019 #1
Yeah and pretty stupid because the deduction hits republicans in those states more than democrats unblock Feb 2019 #2
CA, NY and New England secession now! roamer65 Feb 2019 #3
That and bring back the Personal Exemption. Better yet, restore it back to what it was, because the still_one Feb 2019 #4
+1, people don't understand how hard this has hit familys of 5 or more uponit7771 Feb 2019 #9
There won't be families of 5 or more anymore. roamer65 Feb 2019 #10
you're right still_one Feb 2019 #11
This is the worst tax legislation in our nations history roamer65 Feb 2019 #12
+1, the IRS has given out 38% LESS ... in refunds this year compared to last year and the ... uponit7771 Feb 2019 #17
They taxed the anti-frump voters. Totally intentional. But the red states lindysalsagal Feb 2019 #5
They missed one. roamer65 Feb 2019 #18
Actually, the R's want the blue states to subsidize the red states EVEN MORE. pnwmom Feb 2019 #6
Why don't they just REVOLT and REFUSE to pay the tax? DinahMoeHum Feb 2019 #7
You first MichMan Feb 2019 #13
Don't tempt me. DinahMoeHum Feb 2019 #14
I plan on making my tax cut permanent. roamer65 Feb 2019 #8
Wonder how it's going down in Texas? bluecollar2 Feb 2019 #15
The loss of money will have downstream affects in cars and tourism Renew Deal Feb 2019 #16
 

mr_lebowski

(33,643 posts)
1. Also cause Trump's dickhead knuckle-dragging cult members love that Trump pwned teh libtards
Sun Feb 24, 2019, 03:51 PM
Feb 2019

with this bullshit.

Can't underestimate the value of something like that

unblock

(52,503 posts)
2. Yeah and pretty stupid because the deduction hits republicans in those states more than democrats
Sun Feb 24, 2019, 04:18 PM
Feb 2019

But they think "blue states" and see it as a target and that's as far as their thought process goes.

roamer65

(36,748 posts)
3. CA, NY and New England secession now!
Sun Feb 24, 2019, 04:21 PM
Feb 2019

NY and New England would certainly be better off as Canadian provinces.

California may be as its own independent nation.

still_one

(92,528 posts)
4. That and bring back the Personal Exemption. Better yet, restore it back to what it was, because the
Sun Feb 24, 2019, 04:59 PM
Feb 2019

20% off the top tax break on profits from corporation profits is going to make the deficit even worse, and with the new tax law fraud eliminating the ACA mandate, premiums are going to go even higher, along with the trade wars which have increased food and other costs, those regular folks who experience any tax benefit will soon realize that benefit will go to pay for those other higher costs.


roamer65

(36,748 posts)
10. There won't be families of 5 or more anymore.
Sun Feb 24, 2019, 05:49 PM
Feb 2019

Which in the long run is a good thing for the planet.

The end of the personal exemption should have been grandfathered, not just abruptly ended. The abrupt end of it is throwing too many into financial chaos.

roamer65

(36,748 posts)
12. This is the worst tax legislation in our nations history
Sun Feb 24, 2019, 08:14 PM
Feb 2019

If it continues, it will pit state against state, class against class. A ready made recipe for civil unrest.

uponit7771

(90,371 posts)
17. +1, the IRS has given out 38% LESS ... in refunds this year compared to last year and the ...
Mon Feb 25, 2019, 12:08 AM
Feb 2019

.. ".. they didn't understand it ..." shit coming from the M$M can only go so far.

The IRS is ... JUST NOW ... sending out the rules for schedule C. If someone has there's done already they'll have to redo it.

This has been a fuster cluck from A-Z

lindysalsagal

(20,796 posts)
5. They taxed the anti-frump voters. Totally intentional. But the red states
Sun Feb 24, 2019, 05:01 PM
Feb 2019

don't get that they should be embarassed that they don't pull their own weight and require hand-outs from the blue states.

roamer65

(36,748 posts)
18. They missed one.
Mon Feb 25, 2019, 01:41 AM
Feb 2019

I am ultra liberal and I got a nice tax cut. I’ll use it for some nice Democratic campaign contributions next year.

pnwmom

(109,025 posts)
6. Actually, the R's want the blue states to subsidize the red states EVEN MORE.
Sun Feb 24, 2019, 05:04 PM
Feb 2019

They were already subsidizing them. This makes it worse.

roamer65

(36,748 posts)
8. I plan on making my tax cut permanent.
Sun Feb 24, 2019, 05:44 PM
Feb 2019

I am going to use 2017 taxes as the reference point and use the remaining vehicles to reduce my taxable income as we continue forward.
You all should be aiming for this if possible as the supposed middle “tax cuts” sunset in 2027. Which means our tax burden going forward is only going to get worse.

They will not get this money back from me without one helluva fight. If the scummy 1 percenters don’t hafta give theirs back, I’m not going to either. Give me a top marginal rate of 70 percent or else!

Tax people like its 1979!

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