Democrats TAX CUTS FOR THE RICH!

I love it. I'm about to pay almost $3k in sales tax on a new vehicle, and can't wait to take the deduction.
 
New York, Connecticut and New Jersey have adopted proposals to allow taxpayers, to varying degrees, to evade the SALT cap by recharacterizing their state and local tax payments as charitable contributions. Similar proposals are pending in other blue states, such as California and Illinois.

The IRS warned last month that it may not allow the maneuvers, and many experts predict the issue will end up in court.
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pure fraud. endorsed by the state -but fraud nonetheless
 
noise said:
pure fraud. endorsed by the state -but fraud nonetheless
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Not fraud, the state can enact whatever tax laws they wish at the state level. The point is that they are deliberately trying to provide a massive tax break for the rich. The thing they pretend they are so adamantly against.
 
Superfreak said:
Not fraud, the state can enact whatever tax laws they wish at the state level. The point is that they are deliberately trying to provide a massive tax break for the rich. The thing they pretend they are so adamantly against.
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so a sales tax is now a charitable contribution?
Yes states can write tax code any way they want, but I would think the IRS would object to this Ponzi scheme
 
noise said:
the IRS can't dispute and disallow?
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Of course not. It does not effect them at all. It hurts the state budget. It doesn't alter the Federal receipts. Every single Rep should highlight the fact that the Dems are cutting taxes on the wealthy... in order to offset the increase the Reps put on the wealthy.
 
Superfreak said:
Of course not. It does not effect them at all. It hurts the state budget. It doesn't alter the Federal receipts. Every single Rep should highlight the fact that the Dems are cutting taxes on the wealthy... in order to offset the increase the Reps put on the wealthy.
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i'm not following..
these charitable deductions are federal deductions -yes?

I'll have to go back and look at this when I feel like shifting thru tax law -like never.

I'm in Florida, it's all kind of meaningless down here
 
Superfreak said:
Not fraud, the state can enact whatever tax laws they wish at the state level. The point is that they are deliberately trying to provide a massive tax break for the rich. The thing they pretend they are so adamantly against.
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Nonsense. We have the highest property/school taxes in the country. Now we're just getting our tax credit back. This affects a lot of middle class NYers.
 
Superfreak said:
Again, the Feds don't write state code. This in no way effects the IRS.
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Superfreak said:
Of course not. It does not effect them at all. It hurts the state budget. It doesn't alter the Federal receipts. Every single Rep should highlight the fact that the Dems are cutting taxes on the wealthy... in order to offset the increase the Reps put on the wealthy.
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Read your own article.
 
Althea said:
Nonsense. We have the highest property/school taxes in the country. Now we're just getting our tax credit back. This affects a lot of middle class NYers.
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The provisions they are trying to 'correct' in the Federal code via the State code by far benefit the WEALTHY. This is a break for the WEALTHY. They are cutting taxes for the RICH. Period.
 
Althea said:
Nonsense. We have the highest property/school taxes in the country. Now we're just getting our tax credit back. This affects a lot of middle class NYers.
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That is a state issue. You have no right to 'get it back' from the Federal government.
 
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