The federal government should remove property tax deductions on state and local taxes

bond_trad3r · Aug 30, 2011

...to fuck people over who choose to live in high tax states and localities. It will also help pay down the debt!

Lucrum · Aug 30, 2011

Quote from bond_trad3r:

...It will also help pay down the debt!

That is if congress doesn't spend it first. Which of course they will.

We don't have a revenue problem we have a spending problem.

bond_trad3r · Aug 30, 2011

Regardless, remove the tax deduction and fuck em over.

pspr · Aug 30, 2011

"The federal government should remove property tax deductions on state and local taxes"

Your title makes absolutely no sense as it is worded. Have you ever owned any real property?

bond_trad3r · Aug 30, 2011

Quote from pspr:

"The federal government should remove property tax deductions on state and local taxes"

Your title makes absolutely no sense as it is worded. Have you ever owned any real property?

Hmmm... I agree. The federal government should remove tax deductions for state and local taxes

pspr · Aug 30, 2011

Quote from bond_trad3r:

Hmmm... I agree. The federal government should remove tax deductions for state and local taxes

You mean these?

There are five types of deductible nonbusiness taxes:
State, local and foreign income taxes
State, local and foreign real estate taxes
State, and local personal property taxes
State and local sales taxes, and
Qualified motor vehicle taxes

bond_trad3r · Aug 30, 2011

Quote from pspr:

You mean these?

There are five types of deductible nonbusiness taxes:
State, local and foreign income taxes
State, local and foreign real estate taxes
State, and local personal property taxes
State and local sales taxes, and
Qualified motor vehicle taxes

Yes

bigarrow · Aug 31, 2011

Quote from bond_trad3r:

Hmmm... I agree. The federal government should remove tax deductions for state and local taxes

Everyone wants the loop holes closed on everybody but themselves.

Lucrum · Aug 31, 2011

Quote from bigarrow:

Everyone wants the loop holes closed on everybody but themselves.

Almost everyone. I'd like to see a revenue neutral simplified tax code without any tax deductions or credits, even for me.

pspr · Aug 31, 2011

Quote from Lucrum:

Almost everyone. I'd like to see a revenue neutral simplified tax code without any tax deductions or credits, even for me.

I don't think it will ever happen because the two things politicians love to do the most is spend money and make tax breaks and take them away. With a simplified tax code they won't be able to double talk the public into not understanding how they are manipulating the nation's finances.