Quote:
Originally Posted by spence
Depending on income the variation in the effective federal tax rate for individuals could very well be negligible. The big factor here you're omitting is that the states targeted by the GOP tax plan have significantly more wealthy people who pay a lot more in taxes. So the low tax states aren't subsidizing the high tax states, it's actually the other way around.
|
“could very well be negligible”
5 minutes ago it made absolutely no sense at all. are you saying that now my logic makes sense, but the impact may be negligible?
now youre saying that wealthy people pay more taxes, and are subsidizing the rest of us? careful, you’ll get kicked out of the democratic party for saying that the wealthy pay a disproportionate share of federal income tax!
my point, which you confirmed, is that before the SALT cap, high state taxes in some states, requires subsidies in low tax states. we can debate whether or
not the effect is significant, but the effect is real.
i paid 3,000 more in federal income tax thanks to the salt cap. many people are actually leaving high tax states thanks to that cap, so it’s not negligible.
Posted from my iPhone/Mobile device
Threaded Mode