It'll really hit middle-class people with large families hard.
Get up...get up, you stupid piece of... What did you do that for? What's wrong with you? Didn't you hear a word he said? All of you! You think there's someone just going to drop money on you?! Money they could use?! Well, there ain't people like that. There's just people like me.
Jayne ,'Jaynestown'
Natter 75: More Than a Million Natters Served
Off-topic discussion. Wanna talk about corsets, duct tape, butt kicking, or physics? This is the place. Detailed discussion of any current-season TV must be whitefonted.
Gudanov - Nov 02, 2017 8:22:36 am PDT #18470 of 30002
Coding and Sleeping
Gudanov - Nov 02, 2017 8:26:37 am PDT #18471 of 30002
Coding and Sleeping
I'm afraid to look at just how much getting rid of SALT would raise my taxes.
Looks like they are going to cap SALT at $10,000, but the big increase in the standard deduction might mean a lot of people might not have enough deductions to itemize.
Gudanov - Nov 02, 2017 8:27:55 am PDT #18472 of 30002
Coding and Sleeping
Nope, I'm wrong. SALT is eliminated except for property taxes which are capped at $10,000.
Tom Scola - Nov 02, 2017 8:28:44 am PDT #18473 of 30002
hwæt
$10K only for property taxes. Here in NYC, I'm paying a whole lot in state and city income taxes.
Gudanov - Nov 02, 2017 8:33:10 am PDT #18474 of 30002
Coding and Sleeping
A $600 hike isn't terrible, but I feel like I'm just the kind of person they are going to be saying they are going to help with this plan.
NoiseDesign - Nov 02, 2017 8:50:01 am PDT #18475 of 30002
Our wings are not tired
I'm afraid to look at just how much getting rid of SALT would raise my taxes.
I'm pretty sure we are going to get fucked here. The GOP tax plan is targeting high money blue states like CA and NY. Eliminating the tax deduction for home mortgage interest about $500,000 is just brutal. The median price of a home in LA is over that, combine that with the SALT removal and it's not going to be a happy year in states with a high state income tax like CA.
Gudanov - Nov 02, 2017 8:56:00 am PDT #18476 of 30002
Coding and Sleeping
Oh wait, it looks like there is a new credit for parents and non-child dependents. That would change it to a $300 tax reduction. I stand corrected. Still, not much of a cut.
Yeah, this seems to be really brutal for people in expensive places to live.
Jesse - Nov 02, 2017 8:56:24 am PDT #18477 of 30002
Sometimes I trip on how happy we could be.
I don't have a mortgage and don't itemize, so I'm the one who benefits? That's ridiculous and I don't care for it.
Gudanov - Nov 02, 2017 9:01:41 am PDT #18478 of 30002
Coding and Sleeping
If you don't itemize and don't have a bunch of dependents, then you're going to do okay. Now if you have a lot of pass-through income and pay the alternative minimum tax you are going to come out aces.
Atropa - Nov 02, 2017 9:57:12 am PDT #18479 of 30002
The artist formerly associated with cupcakes.
But yesterday I got to PET AN OTTER!! There was a rabbit cafe that ALSO has otters!! Probably awful and I humane. But an otter!!!
WHERE WHERE WHERE? Is that cafe close to Seattle? Do they always have otters?
(Now I need to find a red panda cafe.)