Tax Bill will be DOA

[SHRED]

Link to tweet

[LonePirate]

1. Do not be so certain. Never underestimate the Republican affinity for giving the 1% more money.

[Hoyt]

2. There are other reasons to oppose the tax bill, but the mortgage and state/local maximums are

high enough that I don't think there will be a lot of opposition.

[highplainsdem]

4. The bill completely eliminates the deductions for state/local income and sales taxes,

though it allows up to a $10,000 deduction for state/local property taxes.

That's a huge tax hike for a lot of Americans, especially in blue states, which it's obviously designed to hurt.

[Hoyt]

8. Most people aren't paying over $10K for property taxes, and elimination of state income taxes might

cost someone who makes $100K taxable income a couple of thousand dollars. I'm not saying it is ideal, but if enough folks are hurt, GOPers will cave quickly on that one.

Looks to me that the real prize for upper income earners in the GOPer plan is the Subchapter S rate cuts (I guess they call it "pass-through" nowadays) and the corporate tax rate. I'm not sure what the new plan does to capital gains.

Like I said, there are other reasons to oppose the bill (like where are tax increases that will raise a lot of revenue), but I don't think the single issue of state tax deductions is that big a deal for the vast majority of people. And I believe it will be one of the first things to go if anything actually is enacted.

[Thor_MN]

3. I hope you are right.

Although increasing the standard deduction and getting rid of mortgage interest would personally help me (last mortgage payment in January, thank dog), I don't want to see Dolt 45 get any "wins".

[lagomorph777]

5. No big deal; those deductions only affect people who live in states or in houses.

[greeny2323]

6. Post is annoying

It is annoying seeing a thread title like this that is just the poster quoting their own tweet.

[Stinky The Clown]

7. Thanks fer yer opining on this