Thanks for your tax invention, Trump. I can buy a private jet

Apple fuckNewTax
Apr 7 41 Comments

Limiting the State and Local Tax deduction to 10k is a great way to keep you rich. While you can still deduct your private Jet.. and keep the planet a little warmer.

No deduction on state income tax here in the bay.
The property tax is already more than 10k. 🙇🏻‍♂️

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TOP 41 Comments
  • Amazon amzngreat
    Do you think the poor and middle class get hurt by this deduction? Nope, only the comparatively well off with an expensive house / high income. You should be happy to help the poor pay less. Where is your sense of social justice?
    Apr 7 13
    • Square SQ1999
      Exactly @amazon. OP says they lost out on 20k of deductions so that suggests that they had 30k of total SALT deductions since the limit is 10k. If you have 30k of SALT, hate to break it to you, but you are making enough that you’re the 1%. You’re wealthy. The left asked for this and are now complaining.
      Apr 7
    • Apple fuckNewTax
      OP
      u have low property tax in other states. And you can deduct private jet. It’s just not fair to me. I’m still happy to pay
      Apr 7
    • Apple fuckNewTax
      OP
      @Square: property tax is already more than 10k. I don’t have any local tax income deduction
      Apr 7
    • Square SQ1999
      What I meant was you have 30k of SALT (which would have been deductions in the previous law)
      Apr 7
    • Square SQ1999
      Re: jets. In any system you’ll be able to point to things that are unfair. No tax system is bulletproof in that no everyone objectively agrees every dollar paid in tax “should” have been paid. If your biggest complaint is a loophole on taxes for jet fuel which represents an infinitesimally small percenatge of the economy then I’d say trump did a pretty good job.
      Apr 7
    • Sirius XM Yndnd
      Christ. Buy a private jet so this is fair for you and quit your incessant whining.
      Apr 7
    • Amazon amzngreat
      Funny, you are more upset that you don't get a deduction rather than being upset at why you pay 30k in SALT in the first place. I got a nice place in Seattle and pay less than 10k SALT. You might want to look into what your state and local taxes go to, when it is multiples of what people in other states pay. The federal government should not subsidize excessive state spending.
      Apr 7
    • Square SQ1999
      Also if your property tax is over 10k you live in a $million+ home typing from your thousand dollar phone going “wah jetfuel”. Get the fuck outta here. You’re just another rich person complaining about taxes. Vote republican if you hate taxes so much, Rockefeller.
      Apr 7
    • Apple fuckNewTax
      OP
      No not complaining, not hating anything. Do I have the Freedom to express my feeling? .. to Trump whom you may love. Sorry bro 😁
      Apr 7
    • Square SQ1999
      If wanting to blow him and swallow every drop means I “love” him then you got me.
      Apr 8
  • Oracle droned
    How about the option: This should make us all finally wake up and see that our local and state politicians are raping us with all the taxes they’ve levied on us!
    Apr 7 2
    • Apple fuckNewTax
      OP
      You still have to keep property tax and income tax for the local gov. It’s only weird when you have to pay tax twice
      Apr 7
    • Amazon amzngreat
      Not weird at all. There is double taxation on corporate income. There is double taxation on FICA (you pay half, employer pays half), there is double taxation for social security (you pay all your life for social security then you pay taxes when you collect social security), etc.
      Apr 7
  • BluVector sparked
    Why should states with low state income tax subsidize those states with high income tax rates?
    Apr 7 5
    • Apple fuckNewTax
      OP
      Why should we subsidize buying a private jet? Helping the planet warm up faster? 😁
      Apr 7
    • BluVector sparked
      We shouldn’t; there are still plenty of loopholes and tax breaks that need to be removed
      Apr 7
    • Apple fuckNewTax
      OP
      Instead of limiting at 10. It’ll be fair if we remove all or keep the deduction.
      Apr 7
    • Salesforce hexagonal
      I bet if we looked at numbers the low income tax states generally get more federal subsidies and assistance than the high income tax states.

      The higher income tax states will also offer more social programs, like homeless shelters and soup kitchens. So homeless get sent from low income states to higher income states, this draining them
      Apr 7
    • BluVector sparked
      The reality of the situation is super complex and depending on what you’re measuring and when you can get numbers to paint whatever story you’re trying to sell.

      Ultimately the question I ask is, should residents in a state A be paying more in federal taxes than a person in state B with the same income just because state B offers more programs that person B takes advantage of?

      If you can argue that because state B offers a program that replaces the need for their residents to take advantage of a similar federal program then there can be an argument made for a tax break. Although even in this case the tax break should be handled by the state and then passed on to the residents, not a break directly on the federal taxes.
      Apr 7
  • Tesla / Ops
    Bigballer

    Tesla Ops

    BIO
    bbb
    Bigballermore
    Sorry I don’t feel bad for anyone who owns a multi million dollar property in the Bay Area
    Apr 7 3
    • Apple fuckNewTax
      OP
      Tax is ~1.9% in the bay, so you’re over 10k tax for home less than 1mil (which is impossible to find here)
      Apr 7
    • Tesla / Ops
      Bigballer

      Tesla Ops

      BIO
      bbb
      Bigballermore
      You don’t deserve any sympathy/tax breaks if you can afford the down payment and mortgage on a multi million dollar property
      Apr 7
    • Oath / Mgmt Atinlay2
      The reality when they find out they aren’t rich hurts!
      Apr 7
  • Oath / Mgmt Atinlay2
    Thank your Blue state policies.
    Apr 7 3
    • Apple fuckNewTax
      OP
      Move to red state, baby
      Apr 7
    • Rural Sourcing / Eng
      Kght68

      Rural Sourcing Eng

      PRE
      Microsoft
      Kght68more
      Please don’t, you vote in the same bad ideas wherever you go.
      Apr 7
    • Oath / Mgmt Atinlay2
      Correct
      Apr 7
  • New / Eng meat🥩
    Just rent instead of buying and you will be fine.
    Apr 7 3
    • Apple fuckNewTax
      OP
      Problem solved 😁
      Apr 7
    • New / Eng meat🥩
      Trump tax laws made renting more favorable vs buying. Just the truth. Better rent cheaper place and invest your savings in stocks.
      Apr 7
    • Amazon crumb
      Yeah this is a real thing even in WA.

      No state income tax so I can choose not to itemize and just take the standard deduction. If I'm renting that's a big deduction now versus nothing to itemize.

      So if I buy, the value of the deduction is only beneficial when it's more than the standard deduction, so at least 24k for a couple.

      That pretty makes renting more prudent than buying, which was not true before the Trump tax bill. The deduction you get after itemizing is only slightly more than the standard deduction given property tax caps at 10k.
      Apr 7
  • Salesforce hexagonal
    The current tax law isn't fair. It's that simple. There are all sorts of more fair ways to tax the wealthy, such as through capital gains, or tax brackets. This was a targeted move to systematically make generally blue states pay more. It was quite brilliant
    Apr 7 0
  • Facebook / Eng Leo Messi
    With that amount of state tax you would be hitting Amt anyways. Can’t deduct either
    Apr 7 2
    • Apple fuckNewTax
      OP
      What is Amt. property tax of a house in the bay is already more than 10k. Local income tax is a lot if you’re single and and Paying tax twice on that. But it’s a good problem to have isn’t it? 😁
      Apr 7
    • Facebook / Eng Leo Messi
      Alternative minimum tax. Before tax revamp, typical Californians with six figure job and a home usually hit amt
      Apr 7
  • Talk to state government about your property taxes.
    Apr 7 0
  • Oscar 🐨koala
    Exactly.
    Apr 7 0

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