Kudos for AOC for pointing out how regressive such a step would be.
https://www.msn.com/en-us/news/polit...?ocid=msedgntp
Kudos for AOC for pointing out how regressive such a step would be.
https://www.msn.com/en-us/news/polit...?ocid=msedgntp
"I am a victim, I will tell you. I am a victim."
"I am your retribution."
How absurd that restoration of SALT limits and expansion of social programs were mentioned as priorities, but roads, bridges, broadband, power grid, ports, shipyards, and Flint never were. The Democratic party at it's best, wrapping crap in butcher paper and calling it steak.
Go get him!
Founding member of the Whiny Little Bitches and Pricks Club
Tax breaks for the rich.
Middle class Californians will be able to sell their house for 3x the value it would have in almost any other state. Many of them will retire by doing just that, then moving to a less screwed up state, buying at depressed prices, and telling the locals how they used to do things in the place they fled. SALT caps were basically a way for those other states to finance the bloated, real estate driven, California/Acela economy. The solution for those middle class Californians is to fix their state government.
Go get him!
Founding member of the Whiny Little Bitches and Pricks Club
Last edited by nsacpi; 04-15-2021 at 10:36 AM.
"I am a victim, I will tell you. I am a victim."
"I am your retribution."
Btw, I want to note that I'm strongly in favor of the redistribution that takes place from rich blue states to the rest of the country. Which is why I oppose restoring the SALT deductions. Restoring them would also violate one of the maxims of good public finance policy: broaden the base and minimize the rates.
Last edited by nsacpi; 04-15-2021 at 12:31 PM.
"I am a victim, I will tell you. I am a victim."
"I am your retribution."
Go get him!
Founding member of the Whiny Little Bitches and Pricks Club
Do you realize if you don’t own a home in California it costs 3x as much as it would in any other state? BTW, the cost of living is inflated because of out of state younger folks who come here to work our high paying jobs. (This isn’t a problem, but let’s stop acting like blue state folk are a gang of pillaging pirates).
I get the concern with SALT deductions. I am not arguing it’s merits only that the people most hurt by it’s repeal are the middle class.
Jaw (04-16-2021)
There is something sort of ridiculous that someone in the middle class in California is required to pay a higher federal tax rate than a middle class person in Wyoming.
Seriously though, the solution is to do something about the supply of affordable housing. But that would piss off people who are already sitting on all that valuable real estate.
I have a friend (an MD) who moved from Indiana to San Francisco about ten years ago. He was shocked at the cost of housing. Had to adjust his expectations down in a hurry.
Last edited by nsacpi; 04-15-2021 at 01:15 PM.
"I am a victim, I will tell you. I am a victim."
"I am your retribution."
I do. The same friend I mentioned above moved to Georgia a few years ago for that reason.
Your state government sucks. You have a painful combination of Hollywood and Silicone Valley providing absurd incomes to people with little connection to reality. Great weather. Beautiful geography. A culture that pretends to be eco conscious while many live in mansions with swimming pools in the middle of a desert and fret about suburban sprawl.
There isn't an easy answer. Maybe continue to jack up taxes on 7 figure incomes while getting some of the loonies out of state government. The problem with that is that so much of your population has become loonie in it's own right. Have you thought of moving to Arizona?
Go get him!
Founding member of the Whiny Little Bitches and Pricks Club
You basically just cited conservative talking points I have heard from my Utah based parents for years. Hollywood elites. Tech. Crazy liberals. Californians suffering. The only thing you missed was illegal immigrants. It would be like me saying “if only the South would stop being fat and racist”.
California is amazing. I moved here from Utah in my 20’s and got a world class education from the state funded UC school system (the best public school system in the world by a long shot btw). My wife has had an amazing experience in that same UC school system in her PhD program.
I work in Silicon Valley for a company that’s bent over backwards to make sure I am happy and satisfied in my work. The reason that company has to do that is because my LinkedIn is full of job opportunities from Tesla, Facebook, Google, etc. all companies just down the road so to speak. There is a similar thing in Los Angeles. California created the best job market in the entire world.
There are challenges here. Housing is too expensive and it’s pushed out a lot of people in important jobs (teachers, police, nurses, construction workers etc.) who can’t afford to keep up. The state and local governments aren’t very good at solving these problems so they raised taxes to pay these people more and to try to fund these state pensions. SALT deductions were bad solution to go about addressing. But it was pretty successful in getting money into the pockets of middle class Californians to make sure they aren’t as disproportionately taxed as people in other states.
And then you have the rest of the state that isn’t LA or the Bay Area, that also has its own issues that are way different from the metro areas that have higher populations, bigger economies, and more geography than the majority of the country.
While I appreciate you characterizing us as being able to sell our million dollar homes so we can escape our tyrannical government that forces us to pay high taxes to fund George Soros utopia, I don’t think you quite have it figured out.