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  1. #1 Blue states ramp up push to 'evade' chunk of Trump's tax reform 
    Senior Member Banacek's Avatar
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    The Republican tax plan touted as the signature legislative accomplishment of President Trump’s first year in office already is running into efforts by high-tax blue states to “evade” a key provision meant to help offset the law’s rate cuts.

    Whether those plans will work is an open question, as the courts have come down on both sides of the debate.

    But as tax season gets underway, state officials are floating two general ideas to blunt the impact of the Tax Cuts and Jobs Act’s $10,000 cap on state and local tax (SALT) deductions.

    New York Gov. Andrew Cuomo, a likely 2020 Democratic presidential contender, wants to largely end the personal income tax, instead imposing an employer-side payroll tax that's deductible on federal taxes. This would ease the impact of the SALT cap for employees, though companies would likely adjust wages – which could be offset with a credit.

    California state Senate President Pro Tem Kevin de Leon, a 2018 Democratic candidate for U.S. Senate, proposed a separate bill to allow residents to donate to the California Excellence Fund—which would go to the state budget—and in return get a dollar-for-dollar state tax credit on the full amount of the contribution. California taxpayers would then be able to deduct that ‘charitable’ contribution from their federal taxes, making up for any loss from the SALT cap.
    Seems to me that these evasive strategies will only help higher income workers (the supposed enemy of Democrats) and create more bureaucrats and laws, even higher costs of government and not address the problem of states that tax people to death because they refuse to control spending.

    http://www.foxnews.com/politics/2018...ax-reform.html
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  2. #2  
    Administrator SaintLouieWoman's Avatar
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    They can say that loopholes are being closed, but there's always a tax lawyer or accountant that can get around it. Wouldn't it be special if California was kicked out of the union? I feel sorry for any conservative living in that state. They're overwhelmed by the libs and the unending avalanche of illegals.

    The folks who bought our home in Sarasota moved from California. They were both in the music biz, she the manager for a prominent rock band and he a studio musician. They were sick of the taxes, escaped California for Nevada, then decided to try Florida. Hope they still like it.
    http://http://i145.photobucket.com/albums/r231/SarasotaRepub/83069bcc.png

    " To the world you are just one more person, but to a rescued pet, you are the world."

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    A Nation of Sheep Breeds a Government of Wolves!"

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