Jeff505
AH enthusiast
- Joined
- Jul 2, 2021
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- Big game hunters St. louis
- Hunted
- Canada, Namibia, Zambia,Zimbabwe this August
Every American pays the same federal tax rate. Your state may contribute more because of your population. States that are fiscally responsible are being forced to pay for those that are not. If you live in a state that has hirer tax rates and you are good with that then pay in and shut up. If you would like to pay less then go to a state that is more affordable. I think there should be no deduction allowed for state tax. If you want to live in a liberal shit hole then that is on you.I'm in NJ, but lets back up for a second here. First off, I agree, unlimited SALT couldn't (can't) continue. However, $40k SALT deduction cap is fair.
States like NY, NJ, CT, CA pay more in federally than almost 75% of the other states. Some of it is for BS social programs, some for schools (to which we have some of the best, nationally), and a lot is for infrastructure which a lot of people nationwide, can't even fathom the cost to maintain. In NJ alone, the cost to maintain the roads, is like $1.5 billion in just maintenance.
To be fair, TX and FL recently made that list as well by virtue of population explosion post-COVID, corporate moves, etc.
I was initially pro-SALT elimination until I learned more about it.
With the standard deduction basically ~$30k or so (married filing jointly), that's only leaving basically another $10k on the bone which isn't exactly a lot. Back to what I said: Unlimited is a bit ridiculous, $40-$50k is fair. You're really only allowing people with high SALT tax expenses to deduct $10k. There are people in states like TX, FL, which would qualify as well.
I wrote all my NJ GOP reps and told them if it comes back than a penny less than $40k penned in for SALT...kill it. One of them, actually responded to me personally (I've met him several times, Recreational Fishing Alliance) said he fully intends to.
NYC, that's a different story, I'll cover in another post.