Tax plan raises taxes on liberal states and lowers them for the rest.

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cassowary
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Tax plan raises taxes on liberal states and lowers them for the rest.

Post by cassowary » Sun Dec 10, 2017 7:58 pm

Hahaha. The left is getting what they have always asked for - higher taxes
Why do all these liberals have longer faces than Secretariat? The Trump tax plan was ingeniously designed to cut taxes on many Americans — but raise them on liberals. These people are always begging to pay more taxes. They finally got their wish!
All of those I’ve quoted presumably voted for Barack Obama, who once said (actually, he was pretty much always saying something like this), “At a time when the tax burden on the wealthy is at its lowest level in half a century, the most fortunate among us can afford to pay a little more.”
With the state and local taxes no longer deductible, it means people in states and cities that impose high state or local taxes. will end up paying more taxes. These are people living in blue states. Serves them right. Be careful what you wish for. You might get it.

Excerpt from link:
Look at the end of federal deductions for state and local tax (SALT). That won’t affect most Americans much. But in the high-tax places where liberals cluster — places like Chicago, Beverly Hills and New York City (which gave Hillary Clinton 74, 72 and 79 percent of their votes), this means you get to fork over more taxes to the feds, your city and your state to pay for all those wonderful government services you can’t get enough of. Putting a cap on the deductibility of property taxes means people who live in mansions, or who live in the most expensive coastal areas, will get hit. Surely that’s good news for Democrats who believe in taxing the rich.
Universities (mostly run by leftists) also get to contribute more too - isn't that wonderful?

Excerpt from link:
Universities with staggering amounts of wealth — Stanford has a $22 billion endowment, Yale $25 billion, Harvard $35 billion — are going to find themselves “asked to give a little something back to their communities,” as liberals usually phrase it.

It’s only a teensy 1.4 percent tax on the annual investment income of some of the most mind-bogglingly wealthy institutions on the planet. So what’s not to like, libs?

The non-rich universities (those with less than $250,000 worth of endowment per student in the House bill, $500,000 in the Senate bill) would be exempt. What, you don’t consider Yale, Stanford and Harvard to be “the most fortunate among us?”

neverfail
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Re: Tax plan raises taxes on liberal states and lowers them for the rest.

Post by neverfail » Mon Dec 11, 2017 12:40 am

I have long noticed that The high taxing US (so called blue) states tend to be the heavily populated ones with the huge urban centres; like New York, Illinois (Chicago) and California (LA and San Francisco Bay area):big, cosmopolitan places The (so called) red states tend to have the small towns and small provincial cities: apple pie and bible thumper country.

Presumably, these highly urbanised blue states charge higher state taxes not because they want to but because big cities cry out for money to be spent on them in order to maintain living conditions at a bearable level. The money has to come from somewhere. The fact that these states have a broad tendency to elect Democrats state governments and city councils might have a lot to do with the fact that the Democrats have traditionally been the party with a better grasp on the needs of large urban centres than their rivals the Republican Party. This organisation, like the regions that routinely support it, seem to cling to a set of values more relevant to America's western frontier of yore and is therefore ill equipped to emphasise with the challenges of like in a big, complex conurbation - and voters respond accordingly.

This tax reform (i.e. this retrograde step backwards) seems to nothing but spiteful punishment inflicted on these regions for not supporting the President's party. I believe that as things stood previously these highly urbanised regions have been hobbled in their attempts to fund the needs of their constituencies and this should make it well nigh impossible. Anticipate further degraded living conditions in the big US urban centres.

Forget about The Democrats = socialist ideology - thats bullshit!

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Re: Tax plan raises taxes on liberal states and lowers them for the rest.

Post by cassowary » Mon Dec 11, 2017 7:50 am

neverfail wrote:
Mon Dec 11, 2017 12:40 am
I have long noticed that The high taxing US (so called blue) states tend to be the heavily populated ones with the huge urban centres; like New York, Illinois (Chicago) and California (LA and San Francisco Bay area):big, cosmopolitan places The (so called) red states tend to have the small towns and small provincial cities: apple pie and bible thumper country.

Presumably, these highly urbanised blue states charge higher state taxes not because they want to but because big cities cry out for money to be spent on them in order to maintain living conditions at a bearable level. The money has to come from somewhere. The fact that these states have a broad tendency to elect Democrats state governments and city councils might have a lot to do with the fact that the Democrats have traditionally been the party with a better grasp on the needs of large urban centres than their rivals the Republican Party. This organisation, like the regions that routinely support it, seem to cling to a set of values more relevant to America's western frontier of yore and is therefore ill equipped to emphasise with the challenges of like in a big, complex conurbation - and voters respond accordingly.

This tax reform (i.e. this retrograde step backwards) seems to nothing but spiteful punishment inflicted on these regions for not supporting the President's party. I believe that as things stood previously these highly urbanised regions have been hobbled in their attempts to fund the needs of their constituencies and this should make it well nigh impossible. Anticipate further degraded living conditions in the big US urban centres.

Forget about The Democrats = socialist ideology - thats bullshit!
Generally speaking, blue states are richer than red states. With a progressive tax system, blue state people pay more income taxes because they earn more. The federal tax is the same for all states. But each individual states also have their own state income tax. Blue states, with their socialists in power, have higher state income taxes.

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SteveFoerster
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Re: Tax plan raises taxes on liberal states and lowers them for the rest.

Post by SteveFoerster » Mon Dec 11, 2017 8:20 am

cassowary wrote:
Sun Dec 10, 2017 7:58 pm
With the state and local taxes no longer deductible, it means people in states and cities that impose high state or local taxes. will end up paying more taxes. These are people living in blue states. Serves them right. Be careful what you wish for. You might get it.
You make it sound like everyone in blue states is on the left and everyone in red states is on the right, rather than the nearly even split found in many states.

Yours is an absurdly collectivist description of conglomerations of millions of individuals.
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Milo
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Re: Tax plan raises taxes on liberal states and lowers them for the rest.

Post by Milo » Mon Dec 11, 2017 10:21 am

So it's "ingenious" to use the tax code to punish entire regions that don't agree with your politics? I think it's petty and rather stupid.

Of course it's not true, so not even wrong.

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Re: Tax plan raises taxes on liberal states and lowers them for the rest.

Post by SteveFoerster » Mon Dec 11, 2017 11:11 am

Milo wrote:
Mon Dec 11, 2017 10:21 am
So it's "ingenious" to use the tax code to punish entire regions that don't agree with your politics? I think it's petty and rather stupid.

Of course it's not true, so not even wrong.
This is not really a hot button issue for me, but a better argument again SALT deductions is that they mean that people who live in low tax states and municipalities tacitly subsidise those who live in high tax ones.
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neverfail
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Re: Tax plan raises taxes on liberal states and lowers them for the rest.

Post by neverfail » Mon Dec 11, 2017 11:25 am

cassowary wrote:
Mon Dec 11, 2017 7:50 am
Generally speaking, blue states are richer than red states. s.

Mississippi is supposed to be richer than New York? Somehow I think that you are giving vent to romantic wishful thinking.

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Re: Tax plan raises taxes on liberal states and lowers them for the rest.

Post by SteveFoerster » Mon Dec 11, 2017 11:47 am

neverfail wrote:
Mon Dec 11, 2017 11:25 am
cassowary wrote:
Mon Dec 11, 2017 7:50 am
Generally speaking, blue states are richer than red states. s.
Mississippi is supposed to be richer than New York? Somehow I think that you are giving vent to romantic wishful thinking.
Mississippi is a solidly red state. Blue states include California, New York, Massachusetts, etc.
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neverfail
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Re: Tax plan raises taxes on liberal states and lowers them for the rest.

Post by neverfail » Mon Dec 11, 2017 11:59 am

SteveFoerster wrote:
Mon Dec 11, 2017 11:11 am

This is not really a hot button issue for me, but a better argument again SALT deductions is that they mean that people who live in low tax states and municipalities tacitly subsidise those who live in high tax ones.
The spending needs of different states, cities, counties and regions are very unequal as is their means to raise revenue. SALT, I would suggest, has merely been an acknowledgement at your Federal level of government that this is so and an attempt to give the states etc with the greater needs an even break.

This tax plan looks to me like nothing other than a gigantic boondoggle to reward regions that supported Trump while penalising the ones that did not. It makes not one single iota of macroeconomic sense let alone social equity and I foresee no good coming from it.

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cassowary
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Re: Tax plan raises taxes on liberal states and lowers them for the rest.

Post by cassowary » Mon Dec 11, 2017 6:13 pm

SteveFoerster wrote:
Mon Dec 11, 2017 8:20 am
cassowary wrote:
Sun Dec 10, 2017 7:58 pm
With the state and local taxes no longer deductible, it means people in states and cities that impose high state or local taxes. will end up paying more taxes. These are people living in blue states. Serves them right. Be careful what you wish for. You might get it.
You make it sound like everyone in blue states is on the left and everyone in red states is on the right, rather than the nearly even split found in many states.

Yours is an absurdly collectivist description of conglomerations of millions of individuals.
You are right. Not all blue state people vote left (ie democratic) and not all red states vote right (ie Republican). That is obvious. I was just speaking generally.

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