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11/05/2017 10:45 am  #1


Rubbing SALT in your Wounds

If the Republican tax bill passes as it exists right now you and I will not be able to deduct state and local income taxes (SALT) on our federal returns.

But, guess who will be able to deduct SALT,,,,,,,,,,,
Corporations.


We live in a time in which decent and otherwise sensible people are surrendering too easily to the hectoring of morons or extremists. 
 

11/05/2017 11:18 am  #2


Re: Rubbing SALT in your Wounds

The "tax bill" is a major give away to corporations --- for the average Joe NOT SO MUCH !  

BTW, I see Mike Pence vistied York County yesterday to highlight the tax bill. Did he meet with the Average Joe - NO he met with a select group of business owners who are salivating at the biggest cuts that will be received. The irony is that many of these companies will use the savings to further automate and cut jobs further. 

Last edited by tennyson (11/05/2017 11:20 am)


"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"
 
 

11/05/2017 2:12 pm  #3


Re: Rubbing SALT in your Wounds

The peasants are supposed to grovel in appreciation that the GOP bill now "allows" the first $10,000.00 of property taxes to be deducted....still nothing for state and local income taxes.

The worst part of this bill--as someone who has spent most of his working years with non-profits--is that with charitable contributions STILL lumped in to the insidious "standard deduction" (SD) there will be even less of an incentive for Average Jane and Average Joe to give.

With a new $24,000.00 SD for married couples there are very few--except those in the beginning years of  mortgage plus his (but not exceeding $10,000.00)) property taxes to itemize. 

Many a Joe will think "heck, the IRS is assuming that I'm giving $15,000+......why should I give anything since it doesn't 'count' and I'm getting credit anyway".
 


Life is an Orthros.
 

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