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OneCrazyDiamond

(2,063 posts)

32. In that scenario I would take the standard deduction.

Reply to berni_mccoy (Reply #27)

Wed Sep 15, 2021, 03:13 PM

Sep 2021

Itemizing won't bring a benefit unless they repeal the cap.

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House Democrats promise 'meaningful' relief for state and local tax deduction cap [View all] Calista241 Sep 2021 OP

This Is An Important Reform smb Sep 2021 #1

The SALT cap was a blue state punishment berni_mccoy Sep 2021 #2

It's a cap on tax deductions for rich people. Calista241 Sep 2021 #3

Rich people already pay little to no SALT. berni_mccoy Sep 2021 #4

+1 OneCrazyDiamond Sep 2021 #5

It's a punishment for people in blue states Freddie Sep 2021 #8

It's a cap on the tax deductions of middle class homeowners in blue states . N/T lapucelle Sep 2021 #10

If you pay more than $10k in property tax per year, you are very high up in the middle class Calista241 Sep 2021 #13

The "problem" BumRushDaShow Sep 2021 #17

That's not true where I live on Long Island. N/T lapucelle Sep 2021 #23

Because it's a cap on middle class families as well, some of which are barely middle class. There's KPN Sep 2021 #18

First of all TX was one of the biggest victims of the cap. cinematicdiversions Sep 2021 #14

Texas has no state income tax and the state takes more berni_mccoy Sep 2021 #21

TX has almost NJ levels of property taxes. cinematicdiversions Sep 2021 #30

That cuts both ways FBaggins Sep 2021 #20

It's easy to prevent the benefit from being too skewed to the wealthiest... thesquanderer Sep 2021 #6

Or the cap could be based on their income berni_mccoy Sep 2021 #7

THIS BumRushDaShow Sep 2021 #9

Get rid of all deductions. twodogsbarking Sep 2021 #11

As a working person who pays plenty of state and federal taxes, no way. We need deductions berni_mccoy Sep 2021 #12

It is true you are taxed twice, but OneCrazyDiamond Sep 2021 #15

Most people easily hit that in MA berni_mccoy Sep 2021 #16

Most people if MA easily hit that? OneCrazyDiamond Sep 2021 #25

Yes. Two people with combined income of 100k berni_mccoy Sep 2021 #27

Two people with a six figure income should pay more taxes. cinematicdiversions Sep 2021 #31

In that scenario I would take the standard deduction. OneCrazyDiamond Sep 2021 #32

In the city of Philadelphia BumRushDaShow Sep 2021 #19

You guys don't have a progressive rate? OneCrazyDiamond Sep 2021 #26

Most state income taxes are flat, yes. And you must factor in berni_mccoy Sep 2021 #28

No progressive rates BumRushDaShow Sep 2021 #29

I guess the rich will get their tax cut. PoliticAverse Sep 2021 #22

I don't think they will end up with a "full repeal" BumRushDaShow Sep 2021 #24

Plus forgiveness of college loans? cinematicdiversions Sep 2021 #33