Cog wrote:They really don't want people questioning why their state income taxes are so high to begin with.
vtsnowedin wrote: It is funny watching the Democrats rave about taxing the rich at the same time they want to restore the full deduct-ability of state and local taxes to get votes and donations from the high tax states rich people.
If only there were enough of other peoples' money so that they could have things their way, but not have to pay anything.
The problem with socialism is that you eventually run out of other people's money.
There are two places only where socialism will work; in heaven where it is not needed, and in hell where they already have it
vtsnowedin wrote:I would think that one of the networks would canvas their own employees for some real life examples. After all the building contains every economic level from janitor to CEO. They ought to be able to show actual results for people from each tax bracket, with kids and without, home owner/renter ,children in college too old for child tax credit,paying in to 401k or pulling out from one.
vtsnowedin wrote:The IRS will not be considered a reliable source. The liberal left will accuse it of pushing Trumps agenda if the data shows an average cut. And the far right Trumpers will accuse it of being deep state corrupt and trying to undercut Trump if it shows an average tax increase.
You can also count on MSNBC to only bring forward examples from high tax states where the tax payer takes a hit from that and or the loss of personnel exemptions.
Fox news will of course do the opposite.
vtsnowedin wrote:Hopefully a few members here will chime in with their own results (in round figures or just percent change) as they file their taxes. I expect we have a fair cross section of the brackets in the middle.
Outcast_Searcher wrote:
However, though there may be shrill whining from either side, IMO, there's no viable evidence to suggest the IRS isn't reliable in reporting data re aggregate tax numbers. And there's no better data source to really look at the big picture than a summary OF the big picture.
Outcast_Searcher wrote:I'll be happy to chime in, though I usually don't know until early April. Too much potential of late 1099's, K-1's, etc. to be willing not to wait to file, and thus get final results from my preparer.
Unfortunately, being retired with investments over 80% of my income, my variance is likely to be too big to be particularly meaningful for this exercise. I suspect that a moderate number of our crew are in similar situations, re taxable income.
vtsnowedin wrote:Outcast_Searcher wrote:
However, though there may be shrill whining from either side, IMO, there's no viable evidence to suggest the IRS isn't reliable in reporting data re aggregate tax numbers. And there's no better data source to really look at the big picture than a summary OF the big picture.
You have a very innocent view of our government agencies. What information they put out for public consumption is always well edited to make them look good and if you except their figures as being the whole true story they will manipulate your vote time after time.
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