The Mudcat Café TM
Thread #163492   Message #3901610
Posted By: Joe Offer
25-Jan-18 - 02:04 AM
Thread Name: BS: Wealthy in California will pay more
Subject: RE: BS: Wealthy in California will pay more
Well, it's a balance. Californians and New Yorkers will suffer most from the loss of state tax and mortgage interest deductions. The cost of living in those states is ridiculously high, so the wealthy are highly taxed so that the rest of us can survive. The Trump tax bill upsets that balance.

My income is fairly modest. but I have enough to live comfortably - and my taxes are not very high. I don't mind paying the taxes I do pay, because I get my money's worth out of them. I'm in a very conservative county, and many of my neighbors who seem to be in my income bracket, scream bloody murder at any mention of taxes. Opposition to taxation is almost a religion in by county, and the followers of the anti-tax doctrine are almost as fervent as the pro-gun believers.

What's so ironic, is that the ones who scream the loudest about taxes, aren't taxed very much.

We have a lot of McMansions in the south part of our county, and I'd guess most of those places are worth a million bucks apiece. I'd think a family would have to earn $250,000 a year or more to afford places like that, and I'm sure a number of those people earn over a million a year. A million a year is way more than ten times my income, and just about a hundred times the annual income of the poorest people in our county. Seems to me, that the rich should be highly taxed.

But it's a balance. If states tax the wealthy too highly, the wealthy will move to Nevada and Arizona and Connecticut. And that upsets the balance in California and New York, and makes a big mess for the entire country.

But the Trump Administration isn't interested in balance. Trump isn't smart enough to understand that concept.

-Joe-