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The fact that taxes are only temporarily lowered for low-income people and then they GO BACK UP means that the poor might as well just sock their tax returns away for a few years when they'll need to give them back to the government. They got negative polls on the first draft, and then made it WORSE in the second draft, not even responding to the majority of the public's complaints.
I can’t afford California any way you cut it, and now with these kind of blows to the economy, living there would be like moving to downtown London for my budget. " answer to me is all about the people making this policy. Certain aspects of the Tax Cuts and Jobs Act seem to explicitly target citizens in high tax states, which tend to be blue states, such as limiting the SALT deduction.
How do you see this bill impacting state and local economies that have higher taxes?
What impacts do you think this will have on the personal finances of people living in these areas?
In this case, tax policy also seems to be playing politics.
California is actively exploring every loophole, and given that the goal of this tax "reform" was to simplify taxes (p.s.
To keep our chat guide user-friendly for all ages, some inappropriate words have been edited to include an alternate meaning.
These words are marked with * around the word which has been switched (e.g. To navigate this lengthy guide, you can scroll through the following list or go directly to a specific letter using the following links: The world's first text message was sent from a computer to a cellphone by British engineer, Neil Papworth on December 03, 1992.I think that’s absolutely the point of some of the bill.As a low earner in a red state, I think another goal here is to also stop people from moving to blue states.I like that the tax bill knocks the feet from under the mortgage interest deduction.This will potentially impact home prices in already-expensive cities, slowing the rate at which housing becomes unaffordable.By using chained-CPI, individuals and families will move in to higher tax brackets more quickly than they would have under the prior system. And those layers are often forgotten by the 'Money is simple! Given how little Walmart would have to raise prices for example (pennies on most products) to pay its workers a living wage, and yet they don't do it, we can't ever assume corps will pay people more or lower prices or raise environmental standards or whatever else unless they are forced to. Certain aspects of the Tax Cuts and Jobs Act seem to explicitly target citizens in high tax states, which tend to be blue states, such as limiting the SALT deduction.