Politics
- Highlander
- City Center Square
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- Location: Houston
Does the tax bill put the earnings tax at risk?
Now that state and local tax deductions will be capped at $10,000?
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- Mark Twain Tower
- Posts: 9862
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Re: Does the tax bill put the earnings tax at risk?
Not payroll deductions, federal income tax form deductions. Being a federal tax code change it only affects what someone does on their federal taxes.Highlander wrote:Now that state and local tax deductions will be capped at $10,000?
This is a close description
Mortgage taxes are local of course, sales taxes for cars are too. Thus why they qualify.Currently, taxpayers can deduct what they pay in state and local property, income, and sales taxes from their federal returns. The new law caps these deductions—which can be any combination of property, income, and sales taxes—at $10,000.
There's a standard deduction of $12k but some people likely go way over this, like if they own a first home in a coastal area with crazy taxes. Or if they're in a zero sales tax state with a high income tax I can see this applying.
For KC residents, it would be people making 6 figures annually.
- Highlander
- City Center Square
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- Location: Houston
Re: Does the tax bill put the earnings tax at risk?
Well my point was that if people do not get to deduct their state and local taxes, potentially fewer would be in favor of continuing an earning tax since it would no longer be deductible (if that 10,000$ deduction was already met). A 100,000$ salary would not put you over for state tax plus earning tax but include property taxes and many more will get to that point.flyingember wrote:Not payroll deductions, federal income tax form deductions. Being a federal tax code change it only affects what someone does on their federal taxes.Highlander wrote:Now that state and local tax deductions will be capped at $10,000?
For KC residents, it would be people making 6 figures annually.
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- Alameda Tower
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Re: Politics
Did anyone see the blackmail allegation and the confirmed affair against Greitens, I can't really figure out what's going down. If they prove the blackmail it's a felony right?
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- Western Auto Lofts
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Re: Politics
At least his penchant for extreme secrecy in communication makes sense now...he's had a lot of practice at it.
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- Broadway Square
- Posts: 2839
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Re: Politics
I for one am stunned to learn that Greitens is a snake, I never saw it coming
- FangKC
- City Hall
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Re: Politics
Former Jackson County Executive Mike Sanders pleads guilty in federal court to wire fraud and misusing campaign money.
http://www.kmbc.com/article/former-jack ... t/15894172
http://www.kmbc.com/article/former-jack ... t/15894172
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- Bryant Building
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Re: Politics
FangKC wrote:Former Jackson County Executive Mike Sanders pleads guilty in federal court to wire fraud and misusing campaign money.
http://www.kmbc.com/article/former-jack ... t/15894172
About as dumb-fuck of a situation as they come.
- grovester
- Oak Tower
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- Location: KC Metro
Re: Politics
No kidding. WTF was he thinking?
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- Administrator
- Posts: 11240
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Re: Politics
Probably something like, "There's no way I'll get caught for this."grovester wrote:No kidding. WTF was he thinking?
- grovester
- Oak Tower
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Re: Politics
They banality of the scheme is astounding. Go big or go home!
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- New York Life
- Posts: 436
- Joined: Thu Mar 24, 2005 3:41 pm
- Location: Overland Park
Re: Politics
Anyone else read the "memo"? I read it and it is hard for me to find a lot of issues with the FBI/Justice dept from it. It sounds like a lot of flame bait. Maybe there is bias, but either way there are still issues raised that have to be investigated and it seems to be a constant theme with the Trump campaign. While the memo does state multiple times the dossier was funded by DNC, it seems to forget that it was initiated by a Republican. Even if the dossier and Carter Page are removed from the mix, there is still a lot going on with Manafort, Flynn, and Popadopolous. Anyone else have a different take on it? Fox News seems to think this is the Holy Grail to ending the Russia investigation, I just don't see it.
- grovester
- Oak Tower
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Re: Politics
The memo was written by staffers for Devin fucking Nunes, the same weasel that went scurrying to the back door of the white house in the middle of the night to keep Trump informed about what was being presented to confidential committee hearings back in March. He couldn't get it to stick then, so he's repackaged it along with a stealth marketing campaign #releasethememo that has actually been amplified by Russian hackers.
Wagging the dog. Of course, that doesn't mean it can't work with the public.
Wagging the dog. Of course, that doesn't mean it can't work with the public.
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- Alameda Tower
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Re: Politics
Memo = Nothingburger
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- City Center Square
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Re: Politics
If the House, and maybe the Senate, turn Democratic with the 2018 elections the GOP and the President will see these committees come to different conclusions. Those in power always forget about the paybacks they receive when they are no longer in power.
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- City Center Square
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Re: Politics
Reading an article that says the Tea Party is dead and the deficit hawks are no more. Reasons being the recent tax reform package that increased the deficit and the just passed agreement to keep the government running that increases the funds for the military and domestic programs.
- FangKC
- City Hall
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Re: Politics
Yes, similar conclusions were discussed on MSNBC's Morning Joe program about the death of the tea party--at least on the national level. I think there is still influence though in many state legislatures.
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- Alameda Tower
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Re: Politics
Personally I'm not sure if the tea party was ever truly about the deficit
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- Broadway Square
- Posts: 2839
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Re: Politics
Bingo. The Tea Party will be back in force (perhaps under another name, who knows) the next time there is a Dem president (especially if that president is, again, not white).Riverite wrote:Personally I'm not sure if the tea party was ever truly about the deficit
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- Alameda Tower
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Re: Politics
Greitens has been indicted