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FHRRK

(887 posts)

32. Explain it to me like I am in Kindergarten

Reply to jimfields33 (Reply #26)

Tue Jul 16, 2024, 10:03 PM

Jul 16

Because due to limitation on State and Local Taxes (SALT) I sure as hell didn't get a break.

Taking away 15k plus of deductions and then cutting my rate by 3% ended up with a break even point of about 750k!

So explain to to me like I am in Kindergarten. How did taking 15k of deductions off my immediate tax liablilty and cutting my rate by 3% not end up increasing taxes!

People in low income States got a break, those of us in high income (Blue States) got screwed.

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41 replies

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Highlight:

Trump's Project 2025 will bring large middle class tax increase [View all] deminks Jul 16 OP

I tell ya, all the Democrats need to do is split Project 2025 open and show the voters what's in store Blue Owl Jul 16 #1

Exactly because Project 2025 is their plan and they are ready StarryNite Jul 16 #2

I hear you. I do. But you know who is really responsible for getting this word out? PatrickforB Jul 16 #20

Please provide this information so that it can be shared h2ebits Jul 16 #3

Haven't found a different link yet. Will keep looking. deminks Jul 16 #7

See my reply below (#10) n/t Justice matters. Jul 16 #12

Thank you! nt. deminks Jul 16 #15

Here's my postimage link to that graph: Justice matters. Jul 16 #10

Most twitter/xitter images can be extracted... Hermit-The-Prog Jul 16 #18

Thanks for the advice on how to extract the file to post it elsewhere h2ebits Jul 17 #38

Welcome. Hermit-The-Prog Jul 17 #40

Thanks!! h2ebits Jul 17 #37

Don't repukes always do this? Cut taxes for the rich and raise them for everyone else? sakabatou Jul 16 #4

No. We all got a pretty nice tax break. jimfields33 Jul 16 #26

Explain it to me like I am in Kindergarten FHRRK Jul 16 #32

The SALT deduction is eliminated entirely in Project 2025 Trekologer Jul 17 #41

But the Trump tax "cut" eliminated the personal exemption and the dependent exemption progree Jul 16 #35

If that happens, I'm orchestrating a federal tax revolt! KPN Jul 16 #5

republicon wet dream BoRaGard Jul 16 #6

How to post a xitter graphic... littlemissmartypants Jul 16 #8

I'm getting damn sick and tired of the well to do and the rich Stargazer99 Jul 16 #9

Eloon whined last week he's having to pay $11 billions in taxes this year. Justice matters. Jul 16 #11

It calls for elimination of SALT deduction entirely Trekologer Jul 16 #13

Imagine that! FHRRK Jul 16 #34

He raised my fucking taxes first term Johonny Jul 16 #14

Steven Rattner Linda ladeewolf Jul 16 #16

Getting a $325,000 tax cut is 3 times the salary of the "family of 4" referenced here. patphil Jul 16 #17

BOMBARD the media to talk on this. CousinIT Jul 16 #19

Read his lips! MORE ... NEW ... TAXES!!! Oopsie Daisy Jul 16 #21

This is and always has been exactly what the GOP has been about Major Nikon Jul 16 #22

Agree, and Trump is worse, he wants high tariffs, which radius777 Jul 17 #39

Needs to be Talked About More erpowers Jul 16 #23

But not in July, have them lined up from September. OnDoutside Jul 16 #27

His rubes will eat that shit up. Turbineguy Jul 16 #24

Deplorable. JohnnyRingo Jul 16 #25

Project 2025 also cuts the 20% capital gains tax rate on high incomes to 15%. And gets rid of the 3.8% NIIT progree Jul 16 #28

-- "TAX SHIFT" Mike Niendorff Jul 16 #29

K&R B.See Jul 16 #30

Many thanks... added to my stockpile of bookmarks for later reference B.See Jul 16 #31

Yeah but Biden is old. we can do it Jul 16 #33

kick bdamomma Jul 16 #36