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southdenverhoo

Joined: 10/11/2001 Posts: 13250
Likes: 17831


Hmm, the max went from 10,000 to 80,000, a guy maxing out


is going to get rid of a big chunk if not all of the increase from the higher marginal rate, isn't he? I'm expecting some tax guys to run some scenarios

I do understand it's not REALLY a tax cut but rather an expanded deduction, but bottom line what's the dif?

EDIT: I didn't see the smiley face, excuse my mistake!

Of course the highest state income tax states also tend to be blue states, so blue state rich folk get a bigger share of the break. OTOH even the "no state income tax" states have property taxes, and they're pretty high to make up for not having a state income tax...
[Post edited by southdenverhoo at 11/17/2021 1:03PM]

(In response to this post by Zhoo)

Posted: 11/17/2021 at 1:00PM



+0

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Current Thread:
  It'll definitely help residents of NYC. ** -- Blah 11/17/2021 1:52PM
  Did 82% go to the richest 1% again? ** -- HoosWillWin 11/17/2021 1:51PM
  Too narrow a view IMO. This for the most part is not -- hoolstoptheheels 11/17/2021 2:32PM
  Yet your link is to Hot Air. Ya got me.** -- Seattle .Hoo 11/17/2021 12:45PM
  It's a tax cut for the well-off--embrace it! ** -- southdenverhoo 11/17/2021 12:44PM
  I am. I’m already holding off on my 2021 -- BocaHoo91 11/17/2021 12:59PM
  Hmm, the max went from 10,000 to 80,000, a guy maxing out -- southdenverhoo 11/17/2021 1:00PM
  I was using the poster logic -- Zhoo 11/17/2021 1:07PM
  10-15% were affected -- Zhoo 11/17/2021 3:30PM

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