Author Topic: SALT Deduction  (Read 4508 times)

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Offline nosuchreality

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Re: SALT Deduction
« Reply #135 on: April 18, 2019, 12:27:42 PM »
So if people aren't affected by a marginal tax change (up or down), why do some say this affected housing?

Tribal noise. People hear losing salt (SALT) deductions, don't really know what it means. Katie Porter is running a facebook post with a guy saying Trump's tax cut elimiated all the deductions.  Talking heads babble distort and contradict each other or if you're not on a finance channel and a regu!ar news channel or show like Maher or full frontal, its a panel all in agreement marching a line of tropes as unquestionable truth.

CNN is a good example today. 
Quote
Mueller report unable to conclude 'no criminal conduct occurred' on obstruction
. Wow, I think Trump is pretty schmucky most of the time, but thats ridiculous.  Guilty until proven innocent much? 

https://www.cnn.com/2019/04/18/politics/mueller-report-release/index.html

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Offline Irvinecommuter

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Re: SALT Deduction
« Reply #136 on: April 18, 2019, 12:56:40 PM »
So if people aren't affected by a marginal tax change (up or down), why do some say this affected housing?

Tribal noise. People hear losing salt (SALT) deductions, don't really know what it means. Katie Porter is running a facebook post with a guy saying Trump's tax cut elimiated all the deductions.  Talking heads babble distort and contradict each other or if you're not on a finance channel and a regu!ar news channel or show like Maher or full frontal, its a panel all in agreement marching a line of tropes as unquestionable truth.

CNN is a good example today. 
Quote
Mueller report unable to conclude 'no criminal conduct occurred' on obstruction
. Wow, I think Trump is pretty schmucky most of the time, but thats ridiculous.  Guilty until proven innocent much? 

https://www.cnn.com/2019/04/18/politics/mueller-report-release/index.html

I rather this discussion stay in the other thread but Mueller literally said that there was not enough evidence for criminal charge...literally innocent until proven.

Offline Kings

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Re: SALT Deduction
« Reply #137 on: April 18, 2019, 02:31:52 PM »
no tax cuts until proven innocent

 >:D

Offline morekaos

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Re: SALT Deduction
« Reply #138 on: April 26, 2019, 08:20:43 AM »
More "if true..thens"....those lines have not worked out as of late.

2.9% GDP in 2018 was a real thing. 

2014:  2.5
2015:  2.9
2016:  1.6
2017:  2.3
2018:  2.9

Are you predicting GDP growth in 2019 to be better than 2.9%?

Surprise!! Didn't see that comin. Well, not really.

US economy grows by 3.2% in the first quarter, topping expectations

First-quarter gross domestic product expanded by 3.2%, the Bureau of Economic Analysis said in its initial read of the economy for that period.
Economists polled by Dow Jones expected the U.S. economy increased by 2.5% in the first quarter.
Gross domestic product for the first quarter was the best start to a year since 2015.

https://www.cnbc.com/2019/04/26/gdp-q1-2019-first-read.html



https://youtu.be/yMwmqp3GLMc

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Online eyephone

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Re: SALT Deduction
« Reply #139 on: April 26, 2019, 08:34:21 AM »
CNBC article:The average tax refund for the week of April 19 was $2,725 — down 2% from last year’s levels.
Overall, the federal government paid $260.9 billion in tax refunds, which is nearly $5 billion less compared to last spring.


https://www.cnbc.com/2019/04/25/the-irs-stats-are-in-heres-how-tax-refunds-look-compared-to-last-year.html

Offline morekaos

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Re: SALT Deduction
« Reply #140 on: April 26, 2019, 08:43:07 AM »
CNBC article:The average tax refund for the week of April 19 was $2,725 — down 2% from last year’s levels.
Overall, the federal government paid $260.9 billion in tax refunds, which is nearly $5 billion less compared to last spring.


https://www.cnbc.com/2019/04/25/the-irs-stats-are-in-heres-how-tax-refunds-look-compared-to-last-year.html


Because take home pay was increased by the tax cut.  (according to the New York Times)

Why a Tax Cut Might Not
Mean a Bigger Refund

By JEFF SOMMER and KEITH COLLINS FEB. 22, 2019

Thanks to a change in the law, most Americans received a tax cut in 2018, the government says. But many people are finding that they are getting smaller refunds than in the past, or even that they owe money.

That’s because some cuts came in the form of fatter paychecks. After the Internal Revenue Service sent out new withholding tables early last year, employers adjusted the amounts taken out in each pay period, whether you noticed or not.

Here’s how the tax overhaul — and the amounts deducted from paychecks — affected two hypothetical taxpayers, based on calculations by the Tax Foundation, an independent think tank.

https://www.nytimes.com/interactive/2019/02/22/your-money/tax-cuts-refund-return.html

 

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