"The problem is that too many people are just clueless about the details of the bill."
That's why I'm so glad that you are doing the work that you do, to keep us informed on what all is going on. Your commentary is also always appreciated because I learn even more from hearing your take on these issues. Thank you for posting this here, @davidpakman!
I, too, hope that if this bill passes, that everyone who isn't Republican pushes hard to win the elections next year and seizes control from these inhumane asshats.
I love how you talk about Senator Orrin Hatch, because I live in Utah and am unfortunately "represented" by that horrible excuse for a human being.
It's always funny when we never seem to have money to help the people who really need it, but we spend trillions of dollars to fund the war machine that keeps the Military-Industrial Complex alive. It really grinds my gears as a veteran.
In both versions, this part will impact people with higher property values. i.e. some people already don't have enough interest payments and property taxes (and other state taxes, by the way) to itemize, and this will increase the population of those people, but it will impact a lot more people in California than in Texas because of higher average home values and taxes. It's just interesting that the impact is skewed like that.
There is a philosophical argument for what is the fair share the corporations and ultra wealthy should contribute, but the majority of the growth in the American economy has gone toward their bottom line.
Stinks for anyone living in a place with high state taxes. Removing the federal deduction for state taxes paid will really hurt in places like California, Oregon, and Minnesota.
Yes I agree. Here in Texas, lots of middle class folks already don't pay enough to itemize, even with property taxes and interest. I'm mostly wondering about increasing the deduction vs. eliminating exemptions. It seems like that would hurt larger families more.
"The problem is that too many people are just clueless about the details of the bill."
That's why I'm so glad that you are doing the work that you do, to keep us informed on what all is going on. Your commentary is also always appreciated because I learn even more from hearing your take on these issues. Thank you for posting this here, @davidpakman!
I, too, hope that if this bill passes, that everyone who isn't Republican pushes hard to win the elections next year and seizes control from these inhumane asshats.
I love how you talk about Senator Orrin Hatch, because I live in Utah and am unfortunately "represented" by that horrible excuse for a human being.
It's always funny when we never seem to have money to help the people who really need it, but we spend trillions of dollars to fund the war machine that keeps the Military-Industrial Complex alive. It really grinds my gears as a veteran.
I broke out some differences in the way the Senate and House versions would impact homeowners: https://steemit.com/politics/@theinsideout/u-s-tax-reform-bill-who-gets-hit-hardest
In both versions, this part will impact people with higher property values. i.e. some people already don't have enough interest payments and property taxes (and other state taxes, by the way) to itemize, and this will increase the population of those people, but it will impact a lot more people in California than in Texas because of higher average home values and taxes. It's just interesting that the impact is skewed like that.
Useful post
There is a philosophical argument for what is the fair share the corporations and ultra wealthy should contribute, but the majority of the growth in the American economy has gone toward their bottom line.
It will do nothing for me overall. Because, New Jersey.
Stinks for anyone living in a place with high state taxes. Removing the federal deduction for state taxes paid will really hurt in places like California, Oregon, and Minnesota.
Yes I agree. Here in Texas, lots of middle class folks already don't pay enough to itemize, even with property taxes and interest. I'm mostly wondering about increasing the deduction vs. eliminating exemptions. It seems like that would hurt larger families more.