Unintended consequences

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canvasbck
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Unintended consequences

#1

Post by canvasbck »

I fear that this cap on the SALT deduction will hasten Texas turning purple/blue

http://www.foxnews.com/politics/2018/04 ... -says.html

Summary, the new tax laws is expected to speed up migration from high tax (blue) states to low or no income states like Texas. I would be fine with this except that these carpetbaggers come here and vote for the same progressive agenda that ruined the <sink>hole that they are escaping.

Any way I can help with the Calexit movement?
"All bleeding eventually stops.......quit whining!"
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DEB
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Re: Unintended consequences

#2

Post by DEB »

I wish there was a rule, that if you voted for it, you have to own it. These folks moving here should be restricted from voting for several years, unless it can be shown that they did not vote for the progressive taxation that they are fleeing from. Maybe a, "I want to be a Texan", test. Such as, Do you support the right to keep and bear arms?, So you own at least a pistol? Do you support low taxation and etc.
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Abraham
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Re: Unintended consequences

#3

Post by Abraham »

Why are they fleeing?

Doesn't California provide their brand of politics and love of big government?
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oljames3
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Re: Unintended consequences

#4

Post by oljames3 »

What do the Strategic Arms Limitations Talks have to do with changing the hue of Texas? :biggrinjester:

For the youngsters: https://en.wikipedia.org/wiki/Strategic ... tion_Talks
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ScottDLS
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Re: Unintended consequences

#5

Post by ScottDLS »

canvasbck wrote:I fear that this cap on the SALT deduction will hasten Texas turning purple/blue

http://www.foxnews.com/politics/2018/04 ... -says.html

Summary, the new tax laws is expected to speed up migration from high tax (blue) states to low or no income states like Texas. I would be fine with this except that these carpetbaggers come here and vote for the same progressive agenda that ruined the <sink>hole that they are escaping.

Any way I can help with the Calexit movement?
I understand the concern, but there are a quite limited number of people that make enough money to lose significantly from the $10,000 SALT cap. Remember joint non-itemizers get $12,000 standard deduction and it takes quite a bit of state and local tax and other deductions to get above that, THEN you still get $10,000 of SALT if you're itemizing. What I'm more worried about the middle income locusts that move to Texas for the lower cost of living without understanding the political environment that made it possible. That and all the illegal aliens that vote.
4/13/1996 Completed CHL Class, 4/16/1996 Fingerprints, Affidavits, and Application Mailed, 10/4/1996 Received CHL, renewed 1998, 2002, 2006, 2011, 2016...). "ATF... Uhhh...heh...heh....Alcohol, tobacco, and GUNS!! Cool!!!!"
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RoyGBiv
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Re: Unintended consequences

#6

Post by RoyGBiv »

ScottDLS wrote:
canvasbck wrote:I fear that this cap on the SALT deduction will hasten Texas turning purple/blue

http://www.foxnews.com/politics/2018/04 ... -says.html

Summary, the new tax laws is expected to speed up migration from high tax (blue) states to low or no income states like Texas. I would be fine with this except that these carpetbaggers come here and vote for the same progressive agenda that ruined the <sink>hole that they are escaping.

Any way I can help with the Calexit movement?
I understand the concern, but there are a quite limited number of people that make enough money to lose significantly from the $10,000 SALT cap. Remember joint non-itemizers get $12,000 standard deduction and it takes quite a bit of state and local tax and other deductions to get above that, THEN you still get $10,000 of SALT if you're itemizing. What I'm more worried about the middle income locusts that move to Texas for the lower cost of living without understanding the political environment that made it possible. That and all the illegal aliens that vote.
An 1,850 sf house in a "middle income" neighborhood in NJ pays more than 10K in SALT tax.

example: Bridgewater Twp.
Avg Home Value: 424K
Avg Tax Bill: $8,750
That's just property tax.

Not including income tax of up to 8.9% (6.37% over 75K)
Not including sales tax of 6.625% (State only)

http://www.njspotlight.com/stories/17/0 ... nd-lowest/
https://www.trulia.com/real_estate/Brid ... ew_Jersey/
https://www.bankrate.com/finance/taxes/ ... ersey.aspx
I am not a lawyer. This is NOT legal advice.!
Nothing tempers idealism quite like the cold bath of reality.... SQLGeek
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canvasbck
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Re: Unintended consequences

#7

Post by canvasbck »

oljames3 wrote:What do the Strategic Arms Limitations Talks have to do with changing the hue of Texas? :biggrinjester:

For the youngsters: https://en.wikipedia.org/wiki/Strategic ... tion_Talks
:lol: :lol: :roll:
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strogg
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Re: Unintended consequences

#8

Post by strogg »

I don't think it'll be a problem here. This is my general take:

The people who would have a tough time with the $10k in SALT deductions from the blue states are all middle or upper middle class (relative to their geography). To maintain their lifestyle in Texas, they'd have to move to a decent neighborhood, which all have their own additional property taxes, not to mention more expensive homes. Their SALTs will definitely exceed $10k as well due to that (property tax + state sales tax). I know I'm definitely in that situation right now. Many other newcomers will be too unless they're willing to take a knock on the lifestyle they are comfortable with.

So sure, folks may be whining about the decrease in SALT deductions, but if that is their only concern, moving here to Texas will be a useless move. They'll be better off moving somewhere else or just staying put, the latter being most likely because the whole deduct-your-move thing is now gone. The rising general cost of living in the blue states (regardless of any federal pressure) will still be the main motivating factor for people to jump ship to Texas.
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Re: Unintended consequences

#9

Post by LDB415 »

DEB wrote:I wish there was a rule, that if you voted for it, you have to own it. These folks moving here should be restricted from voting for several years, unless it can be shown that they did not vote for the progressive taxation that they are fleeing from. Maybe a, "I want to be a Texan", test. Such as, Do you support the right to keep and bear arms?, So you own at least a pistol? Do you support low taxation and etc.
They would just lie on all the answers and then vote left. It's the way they operate.
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