Do you care about SALT

[maverick52]

Hey there 2A brothers. I know most of us support republicans for 2A reasons and other reasons. So do I. But have to ask, how many of your care about losing the SALT deduction? I understand why Republicans did it but we suffered as a result. We pay some of the highest taxes in the country and that was the small benefit we had now its capped at 10k. For those of us who live in places like Westchester County it amounted to a tax increase for us. Do you think the cap should be lifted? Do you care?

 

[Modean]

Don’t care. I do however buy into the idea that on the Federal level, the old system subsidized people in high tax states.

 

[Chevusa]

If you have a problem with your high taxes take it up with your state government. The feds should not have to offer SALT to offset your out of control state. It benefited the majority of the country and was the right thing to do. If Cuomo wants to bitch he can lower his taxes and reduce his spending!

 

[maverick52]

f you have a problem with your high taxes take it up with your state government.

Like that will work. Lol. But it get it.

 

[Chevusa]

Like that will work. Lol. But it get it.

Vote. It's not the responsibility of people in Texas to pay more taxes to offset NY's deduction.

 

[SomeSoldier]

If you want to pay less taxes vote out these assholes, vote down your school budgets, or move out of this state. The only people that should pay for our taxes is us.

 

[maverick52]

Vote. It's not the responsibility of people in Texas to pay more taxes to offset NY's deduction.

Yep. I agree. But Dems outnumber Republicans 4 to 1 in this state.

 

[SomeSoldier]

Yep. I agree. But Dems outnumber Republicans 4 to 1 in this state.

Not the guy in NC problem, nor the guy in Idaho.

 

[BDinPutnam]

I would much rather have seen it phased out over a number of years than eliminated in one fell swoop.

 

[SomeSoldier]

I would much rather have seen it phased out over a number of years than eliminated in one fell swoop.

Never would have happened. Just like we still have tolls.

 

[BDinPutnam]

Never would have happened. Just like we still have tolls.

I'm talking about eliminating the federal deductions not the local taxes.

 

[SomeSoldier]

I'm talking about eliminating the federal deductions not the local taxes.

Dems would have flipped it as soon as they got power. Probably still will.

 

[dwa12479]

As much as I hate the high taxes here, I don't feel its fair that other states residents have to subsidize the federal taxes because our state ones are higher.

 

[BDinPutnam]

Dems would have flipped it as soon as they got power. Probably still will.

Right because both sides are using it as a cudgel- republicans used it to punish blue states and later, democrats will use it to reward them.

It should have been phased out incrementally years ago. In fact, Reagan wanted to do so.

 

[Blimey]

I care. It Was made up for in other tax breaks but with our new house and as kids phase out it amounted to a tax increase of thousands.

I was amazed well into 2018 realizing how few people even understood how it was making tax deductibility of their mortgage a thing of the past.

 

[Blimey]

Dems would have flipped it as soon as they got power. Probably still will.

No chance. They complained when it was removed but truth is it lowered taxes for wealthier people. It’s never coming back.

 

[Saltwater60]

I lost big time when they did the tax thing Trump did. I lost about $5,000 in my refund. With that being said I do support him doing what he did. It’s not Trump’s fault our ass clowns rape me on my tax bill. I voted down my school budget and it still passed. A 3.75% increase even after they shutdown schools for 3-4 months. If you can’t save money then we’re screwed. My property and county taxes go up every year as well. That’s not Trump’s fault. That is directly Cuomo’s fault. Look at the state funding over the last 5 years given to your city and you’ll now understand why your property taxes keep going up. Asshole Cuomo has cut what he gives to everyone because he can’t stop spending my money stupidly.

 

[pjzwtl]

Refund what’s that? I have no problem not having other states subsidize my high N.Y. taxes. It sucks but we choose to live here if you want to get mad about it look within the people’s republic of N.Y. for the blame not DC

 

[dsdmmat]

Hey there 2A brothers. I know most of us support republicans for 2A reasons and other reasons. So do I. But have to ask, how many of your care about losing the SALT deduction? I understand why Republicans did it but we suffered as a result. We pay some of the highest taxes in the country and that was the small benefit we had now its capped at 10k. For those of us who live in places like Westchester County it amounted to a tax increase for us. Do you think the cap should be lifted? Do you care?

No, I think the taxes you pay should be lowered. Why should you get to deduct state taxes from federal income taxes. Vote the bastards out who raise your taxes because they need a new office chair.

 

[Jchrisls]

Oddly, we benefited personally. The amount deducted via mortgage interest VS the personal deduction gained was a win for us. Got more from the personal deduction. Certainly would depend on where you live a lot.

 

[GOPerfect]

No. The Federal government nor the American people residing outside of NY should not be on the hook for NY taxes. You knew the tax base when you bought your house. I do not feel for those that are forced to pay these taxes.

Well, kind of. All of taxes are too damn high in NY, that is a fact. When we purchased our home, we looked at a few different areas in the town that we choose. We bought my current home in a less taxed area for the reason of taxes. We researched and bought where we were willing to pay. I know that in this State, my property taxes will not decrease, that is why we have a plan to sell and move as soon as we retire.

You chose this State and you chose the area that you bought your home. Either pay your high taxes, move of make change occur.

 

[Mosinitis]

Fair or not, people will still look after their own financal interests. Empty promises to defend the 2nd amendment will be weighed against more favorable tax policies.

 

[MikeM]

People, people, people... you can't compare apples to oranges. Most people complaining about lower refunds aren't considering that the withholding tables changed under Trump and most people started coming home with more money each pay check. That was your refund in advance. The SALT got limited but was mostly offset by lower brackets. I posted all this before and will try to find it (currently traveling). But, I recalculated my clients returns as if all the tax changes didn't occur and most people came out ahead.

Never compare refunds, what matters is total taxes as a percentage of income compared to the years before. Also with the market booming, pre covid, many had larger dividends and capital gains which is extra income that doesn't have withholding on it.

-Mike M. CPA

 

[Jmac00]

I honestly DON'T GIVE A SHIT, not even a rats ass. I couldn't care less..........everyone following the pattern here:

Im outa here in 16 to 18 months ( it was 12 to 14 months, but my little fender bender has pushed this back a little ) I only care about what my taxes will be in whatever state I end up in, and I guarantee you, it will be a state with a LOT LESS TAX

 

[BDinPutnam]

I honestly DON'T GIVE A SHIT, not even a rats ass. I couldn't care less..........everyone following the pattern here:

Im outa here in 16 to 18 months ( it was 12 to 14 months, but my little fender bender has pushed this back a little ) I only care about what my taxes will be in whatever state I end up in, and I guarantee you, it will be a state with a LOT LESS TAX

Sure it will.

Until it comes time to pay the piper on the $4 trillion the feds spent in the last five months alone.

Don't get me wrong I generally agree with you and wish you well but don't forget the old saying about death and taxes.

 

[Jmac00]

Sure it will.

Until it comes time to pay the piper on the $4 trillion the feds spent in the last five months alone.

Don't get me wrong I generally agree with you and wish you well but don't forget the old saying about death and taxes.

I'll be mobile, living in the woods, off grid. Im throwing my cell phone away too, catch me if you can, LOL

 

[MothMan]

We own 5 taxable properties 4 of them with buildings with a tax burden of less than $8500 total. SALT means not a lot to me.

 

[BDinPutnam]

Salt is a very important mineral, actually. You need it to live. Wars have been fought over it.

 

[masterswimmer]

Most, not all, benefited from the lost deduction. I'm one of them. We paid off our mtg last February. The personal exemption now weighs supreme.

Yeah, I'm gonna be selfish on this one.

 

[Blimey]

People, people, people... you can't compare apples to oranges. Most people complaining about lower refunds aren't considering that the withholding tables changed under Trump and most people started coming home with more money each pay check. That was your refund in advance.

I think I'm preaching to the choir on this one but a large percentage of Americans have not the first damn idea how their taxes work. As you said, and as is fact, most people came out ahead. Yet, I clearly remember polls at the time and articles condemning the "lower refunds", forgetting conveniently that their paychecks increased. Many still think it's a good idea to stay just under a new tax bracket to avoid getting a raise and taking less money home.