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Talking Rotten
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Forum:
Politics
Category:
Economics
Title:
Miscellaneous
Thread ID:
01665625
Message ID:
01666078
Views:
32
>>>>>Any stats you can point me to for that? And last time I checked CA was part of the USA.
>>>
>>>OK, lets take a specific look at the GOP Tax Cuts and Jobs Act.
>>>
>>>The SALT rule used to allow people paying local tax to deduct it from their federal tax. That's a truism you can confirm easily.
>>>
>>>The GOP Tax Cuts and Jobs Act caps SALT deductions at $10K. Also a truism you can confirm. But it does a few other things too:
>>>
>>>This Act caps mortgage interest deductions to interest on $750K that used to be $1M. Is that policy better for the rich or the poor, btw?
>>>
>>>It almost doubled the standard deduction to $12K for individuals, $24K for couples and $18K for heads of households. Do you think that'll be felt more by the rich or the poor?
>>>
>>>It also increases the child credit from $1K to $2K and if after the standard deduction this pushes you into tax credit, the IRS now will cut you a refund check which was not refundable previously. Is that better for the rich or the poor?
>>>
>>>But this will please you: the Estate Tax cutoff increased from $5.xM to $11.xM which definitely favors the rich at face value- though it also reduces the incentive to jiggle affairs to avoid tax altogether.
>>
>>https://www.amazon.com/Fifth-Risk-Michael-Lewis/dp/1324002646
>
>
>From your link-
>the funding of vital programs like food stamps and school lunches is being slashed.
>
>My question is : Why not?
>There are now 6 Million less people receiving food stamps than in 2016.

Really??? How about because many people do not have enough money to buy food and there are a HUGE number of kids that the only meal they get all day and night is whatever they get a school.
ICQ 10556 (ya), 254117
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