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House Democrats have proposed lifting the federal state and local taxes deduction cap to $72,500 from $10,000 through 2031.
The benefit may primarily flow to those earning more than $200,000, according to a Tax Foundation analysis, and those making $250,000 to $1 million may receive the biggest tax break.

Leisher wrote: ↑Fri Nov 05, 2021 1:03 pm James Carville thinks "stupid wokeness" is killing the Ds nationally.

Leisher wrote: ↑Mon Nov 08, 2021 8:31 pm Anybody know what Pete is talking about here? Is this just a really bad analogy or examp

Leisher wrote: ↑Mon Nov 08, 2021 8:31 pm Anybody know what Pete is talking about here? Is this just a really bad analogy or example?

In one of the book's most memorable passages, Caro reveals that Moses ordered his engineers to build the bridges low over the parkway to keep buses from the city away from Jones Beach—buses presumably filled with the poor blacks and Puerto Ricans Moses despised. The story was told to Caro by Sidney M. Shapiro, a close Moses associate and former chief engineer and general manager of the Long Island State Park Commission.

TheCatt wrote: ↑Mon Nov 08, 2021 8:59 pm

Leisher wrote: ↑Mon Nov 08, 2021 8:31 pm Anybody know what Pete is talking about here? Is this just a really bad analogy or example?

Oh damn, it was an example, not analogy. I've never heard of this before.

In one of the book's most memorable passages, Caro reveals that Moses ordered his engineers to build the bridges low over the parkway to keep buses from the city away from Jones Beach—buses presumably filled with the poor blacks and Puerto Ricans Moses despised. The story was told to Caro by Sidney M. Shapiro, a close Moses associate and former chief engineer and general manager of the Long Island State Park Commission.

Leisher wrote: ↑Fri Nov 19, 2021 10:55 am Harris to briefly become the most powerful person on the planet.

New York business owners are saving billions of dollars in taxes by using a state-approved system for sidestepping the $10,000 federal cap on state and local tax deductions.

Owners of closely held businesses paid the state $11 billion in pass-through entity taxes by the end of 2021, according to the state’s Department of Tax and Finance. Pass-through businesses usually don’t pay income taxes directly but pass income and deductions through to their owners’ individual returns.

By paying New York’s new pass-through entity tax, those business owners shifted their state income taxes from their individual tax returns—where the cap would pinch them—to their business filings, where the cap doesn’t affect them.

The total represents about one-sixth of New York’s projected personal income tax revenue for the fiscal year ending March 31. The result: If those business owners had an average federal tax rate of 32%, they would be saving more than $3 billion.

Leisher wrote: ↑Tue Jan 11, 2022 9:56 am Maybe if the government spent some time eliminating wasteful spending and closing loopholes perhaps they wouldn't need to constantly raise taxes?

Ha! C'mon, they'd still raise taxes. It'll never be enough.

GORDON wrote: ↑Tue Jan 11, 2022 10:24 am They can keep squeezing until people with guns storm the capitol.