ackSHualLy Blue states heavily subsidize red states”
States don’t pay taxes, people do. Rich people paying most of the taxes is the way the tax system is supposed to work.
More leftist stupid crap.
“"This bipartisan bill would help lower taxes for families in high-cost areas [like Long Island] by accounting for regional differences in the cost of living and ensuring taxpayers can keep more of what they earn,"
Does this make a lick of sense to anybody? The wealthy living in expensive zip codes keep exactly the same of what they earn as anybody else. They just choose to spend it on things that raise the cost of living in certain zip codes; like big homes and fancy cars. If they don’t like it they should move to an area where the residents have an old car up on blocks in th driveway and a fridge full of beer on the front porch next to the old couch.
There is no reason to subsidize these folks’ lifestyles.
I'm not really supportive of the idea, for multiple reasons, but mathematically, it makes perfect sense. $100K in Palm Beach might have the same spending power as $45K in Bumfuck, Iowa, but the Iowan pays a much lower income tax rate, and therefore sees a smaller share of his actual purchasing power eaten up by federal taxes.
I think there are a lot of good policy reasons to oppose this bill, but that it doesn't make sense isn't one of them. It makes perfect sense.
Of course different incomes will mean different rates. But I understand the argument to be that those in Iowa with the same income will have more discretionary funds because of lower costs of living in Iowa. People choose how to spend money. I don’t see the problem. .
“"This bipartisan bill would help lower taxes for families in high-cost areas [like Long Island] by accounting for regional differences in the cost of living and ensuring taxpayers can keep more of what they earn,"
Does this make a lick of sense to anybody? The wealthy living in expensive zip codes keep exactly the same of what they earn as anybody else. They just choose to spend it on things that raise the cost of living in certain zip codes; like big homes and fancy cars. If they don’t like it they should move to an area where the residents have an old car up on blocks in th driveway and a fridge full of beer on the front porch next to the old couch.
There is no reason to subsidize these folks’ lifestyles.
I'm not really supportive of the idea, for multiple reasons, but mathematically, it makes perfect sense. $100K in Palm Beach might have the same spending power as $45K in Bumfuck, Iowa, but the Iowan pays a much lower income tax rate, and therefore sees a smaller share of his actual purchasing power eaten up by federal taxes.
I think there are a lot of good policy reasons to oppose this bill, but that it doesn't make sense isn't one of them. It makes perfect sense.
it's an income tax, not some fucked up equity tax. How does anything associated with where you live in the federal jurisdiction matter when it comes to a federal income tax? The issue is their state and local taxes. Fix it there and stop fucking with me because we made different choices about where we live.
Obviously not directed at you, but rather the argument made re the bill.
Hope is not optimism, which expects things to turn out well, but something rooted in the conviction that there is good worth working for. - Seamus Heaney, Irish poet and likely Hoosier basketball fan.
POTFB
@unclemark Hey, you're one of the rich ones. You have 2 cars up on blocks. 😀
There are 10 types of people in this world, those who know binary and those who don't.
ackSHualLy Blue states heavily subsidize red states”
States don’t pay taxes, people do. Rich people paying most of the taxes is the way the tax system is supposed to work.
More leftist stupid crap.
CoH, think you will agree that being rich (wealth) is measured by net worth while income taxes is all about income.
Thus, it is high income people who pay most of the income taxes while the rich may, or may not, be among those paying most of the income taxes.