2017 GOP Tax Cut & Jobs Act: Republican majorities to vote on extension in 119th Congress before expiration on 12/31/25

StatUS

Superstar
Supporter
Joined
Apr 30, 2012
Messages
28,154
Reputation
1,785
Daps
61,703
Reppin
Everywhere
It's pretty amazing the GOP had the House, Senate and White House from 2017-2019 and this is the only thing they could pass. That and the Senate confirming Trump's judges which is the biggest long term impact of this presidential term.
All they wanted was tax cuts, ACA repeal, and the courts.
 

Kyle C. Barker

Migos VERZUZ Mahalia Jackson
Joined
Feb 5, 2015
Messages
27,986
Reputation
9,323
Daps
120,152

the cac mamba

Veteran
Joined
May 21, 2012
Messages
101,952
Reputation
13,523
Daps
297,941
Reppin
NULL
Not surprised. A lot of blue state homeowners like myself ended up paying thousands MORE in taxes due to the new SALT limits.
technically that makes sense to me, if you were starting the system from scratch :yeshrug: it shouldnt matter to the federal government what your local taxes are, since thats between you and your state and town. all those overpensioned employees provide you a better standard of living than red states; thats your benefit (no, really :skip: thats your benefit)

the reasoning is pretty simple; say a state added a 50 percent tax to everyone in the state, that would be used to buy everyone in the state a swimming pool. of course everyone would say "they dont get to write that off on federal taxes; fukk them :camby:" . well thats exactly what happens in higher tax blue states, except the pool is various services and public employee pay, and the tax is around 5 or 10 percent :ehh:
 

Tommy Fits

Superstar
Supporter
Joined
May 1, 2012
Messages
13,003
Reputation
2,375
Daps
44,883
Reppin
QUEENS NY
technically that makes sense to me, if you were starting the system from scratch :yeshrug: it shouldnt matter to the federal government what your local taxes are, since thats between you and your state and town. all those overpensioned employees provide you a better standard of living than red states; thats your benefit (no, really :skip: thats your benefit)

the reasoning is pretty simple; say a state added a 50 percent tax to everyone in the state, that would be used to buy everyone in the state a swimming pool. of course everyone would say "they dont get to write that off on federal taxes; fukk them :camby:" . well thats exactly what happens in higher tax blue states, except the pool is various services and public employee pay, and the tax is around 5 or 10 percent :ehh:
Yet even under the old tax system blue States were already subsidizing red States.

AP FACT CHECK: Blue high-tax states fund red low-tax states

So what little break tax payers in blue States got to subsidize Trump's America, they lost it. If they're going to put caps on state and local taxes you can deduct on your federal taxes, shouldn't they first have fixed the imbalance in what blue States pay and get back and what red States pay and get back in Federal funds ?
 

the cac mamba

Veteran
Joined
May 21, 2012
Messages
101,952
Reputation
13,523
Daps
297,941
Reppin
NULL
. If they're going to put caps on state and local taxes you can deduct on your federal taxes, shouldn't they first have fixed the imbalance in what blue States pay and get back and what red States pay and get back in Federal funds ?
it's not literally blue and red states though :dead:
 

DEAD7

Veteran
Supporter
Joined
Oct 5, 2012
Messages
50,910
Reputation
4,411
Daps
88,971
Reppin
Fresno, CA.
That’s because taxes weren’t cut for individuals

It was cut for corporations

Read that article again dufus
:picard:What are you angry about. My post gave absolutely no opinion or suggested no source for the increase in revenue...

:mjlol:Liberals just fume at the idea of anything remotely positive/appearing positive while trump is in office.

Get your life together.
 

CrimsonTider

Seduce & Scheme
WOAT
Joined
Apr 30, 2012
Messages
82,724
Reputation
-13,949
Daps
130,928
:picard:What are you angry about. My post gave absolutely no opinion or suggested no source for the increase in revenue...

:mjlol:Liberals just fume at the idea of anything remotely positive/appearing positive while trump is in office.
Get your life together.
That article isn’t positive

It’s basically says tax revenue from individuals is up a little and tax revenue from corporations is down a lot
 

Tommy Fits

Superstar
Supporter
Joined
May 1, 2012
Messages
13,003
Reputation
2,375
Daps
44,883
Reppin
QUEENS NY
what does that have to do with what i posted though? is the pool example incorrect in any way?
it's not literally blue and red states though :dead:
The new tax law adversely effects blue States, democratic states, high tax states, states where cousin sex is usually frowned upon. Yes every person in every state could take advantage of pay deductions if they we're able to. And your argument has always been it's not fair to other states where most of the population didn't pay enough in state and local taxes to make itemizing worthwhile over taking the standard deduction. No one told you to buy that house, you shouldn't get a federal break in taxes because of your decisions. Plus we get bloated pensions so our quality of life is better and if we have a problem with that we should take up our high taxes with our state and not the federal govt. If im missing your point let me know. And going back to your pool anology, all us NY'ers, I'll use NY because it's where I live and the new federal law hurts mine state more than most States, we to deduct the cost of our pools, our taxable income was lowered, instead of paying $1000 dollars in fed taxes, we paid $900. For arguments sake im just say all us new pool owners make exactly the same and we make nice round numbers. But that $900 we all paid, let's say came out to $1,000,000 in Federal tax. My state only got back $800,000. Now we go back to decisions, we'll take Zeb who lost his job in the coal mines, or the manufacturing plant, or the fishing boat, or whatever job America lost and they ain't getting back. The writing was on the wall that these jobs were leaving, Zeb chose not to change with the times decided to forge ahead, until he lost his job. Still refusing to change, Zeb got and his friends all got jobs at Walmart and on their days off sit around smoking meth waiting for their jobs to come back. They only paid $500 in taxes each for a total of $700,000 in Federal taxes collected. But whatever state they live in, the state got back $1,500,000. So money that goes for stuff in Zeb's state is coming from me. If all things were fair shouldn't NY be receiving more federal tax dollars, an a if we received more federal tax dollars and federal grants, my taxes could possibly be less. If we got our fair share of federal grants, maybe NY could get a grant to fix the subway, instead of NY trying to pass a congestion tax.
 

the cac mamba

Veteran
Joined
May 21, 2012
Messages
101,952
Reputation
13,523
Daps
297,941
Reppin
NULL
The new tax law adversely effects blue States, democratic states, high tax states, states where cousin sex is usually frowned upon. Yes every person in every state could take advantage of pay deductions if they we're able to. And your argument has always been it's not fair to other states where most of the population didn't pay enough in state and local taxes to make itemizing worthwhile over taking the standard deduction. No one told you to buy that house, you shouldn't get a federal break in taxes because of your decisions. Plus we get bloated pensions so our quality of life is better and if we have a problem with that we should take up our high taxes with our state and not the federal govt. If im missing your point let me know. And going back to your pool anology, all us NY'ers, I'll use NY because it's where I live and the new federal law hurts mine state more than most States, we to deduct the cost of our pools, our taxable income was lowered, instead of paying $1000 dollars in fed taxes, we paid $900. For arguments sake im just say all us new pool owners make exactly the same and we make nice round numbers. But that $900 we all paid, let's say came out to $1,000,000 in Federal tax. My state only got back $800,000. Now we go back to decisions, we'll take Zeb who lost his job in the coal mines, or the manufacturing plant, or the fishing boat, or whatever job America lost and they ain't getting back. The writing was on the wall that these jobs were leaving, Zeb chose not to change with the times decided to forge ahead, until he lost his job. Still refusing to change, Zeb got and his friends all got jobs at Walmart and on their days off sit around smoking meth waiting for their jobs to come back. They only paid $500 in taxes each for a total of $700,000 in Federal taxes collected. But whatever state they live in, the state got back $1,500,000. So money that goes for stuff in Zeb's state is coming from me. If all things were fair shouldn't NY be receiving more federal tax dollars, an a if we received more federal tax dollars and federal grants, my taxes could possibly be less. If we got our fair share of federal grants, maybe NY could get a grant to fix the subway, instead of NY trying to pass a congestion tax.
fed-state-balance-map.jpg



red states give back. you're talking about this shyt like it's a science that blue, democrat states are the ones that give back. it's just a vague coincidence :yeshrug:

no one forces new york to overpromise ridiculous public spending; that has nothing to do with your federal tax returns
 
Top