Thread: Thanks Trump
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Old 04-13-2019, 07:48 PM   #6
KRAM36
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Quote:
New Jersey Taxpayers

New Jersey residents pay famously high income and property taxes. It’s no surprise, then, that 41% of New Jersey tax returns claimed a deduction for state and local taxes. The average amount of that deduction was $17,183.33.
https://smartasset.com/taxes/trumps-plan-to-eliminate-the-state-and-local-tax-deduction-explained

Like I said, when you get these Federal deductions, it is considered a subsidy. So start complaining to your state about being over taxed.

Quote:
With the deduction for state and local taxes, the federal government is effectively subsidizing high earners in high-productivity states and cities. (Any deduction the federal government offers is a subsidy.) As you might expect, wealthy residents of wealthy states are most likely to pay state and local taxes. They also tend to have the highest average SALT deductions. According to the Tax Foundation, people with incomes over $100,000 receive more than 88% of SALT deduction benefits.
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