The demonic communists and their criminal co-conspirators in the FNM (Fake News Media) of the state of New Jersey, where The Anti-New York Times is headquartered, are in peak fear-mongering mode over the modest Trump tax-cut package for 2018. You see, in high property / high state-income-tax states like New Jersey, New York, Commiefornia etc, the proposed $10,000 write-off cap for local and state taxes will end up reducing the amount of money which taxpayers can deduct from their taxable income for Federal tax purposes. So now, all of a sudden, the loony Left is oh-so-concerned about some people (mainly the wealthy) having to pay higher taxes. How conveeenient, as the old Church Lady of Saturday Night Live fame used to say.
When it suits his purposes, “the usual suspect” can suddenly switch from being a tax & spend “soak the rich” Marxist to an anti-debt, Boston Tea Party tax rebel. How conveeenient!
Get a load of this fearful propaganda which some of my very own family, friends and acquaintances have soiled their panties over — that is until Sugar and I, er, “The Editorial Board” set the record straight for them. From the article:
“In many ways, Livingston, NJ is a microcosm of all the forces that will collide in the heavily taxed towns that ring New York City when the proposed tax law takes effect. These are places that have drawn residents willing to stretch their budgets to cover big mortgages and high property taxes in exchange for good schools and a comfortable lifestyle, understanding that they could deduct their local levies and reduce their federal taxes. But the tax bill would radically alter that equation, forcing potentially painful choices in towns like Livingston. For some, the math just may not work anymore, driving them and their neighbors to reconsider the classic suburban dream.”
Jeff Lajqi, the owner of a Jew Deli, chimes in with his ill-founded concerns about the Republican plan to limit how much property tax he can deduct on federal returns:
“If they’re raising the taxes, you know what’s going to happen: Everyone’s going to raise prices. Raise my taxes, I raise your challah.”
Oy vey, Jeff! Did you whine like that when your Jewish-Democrat-dominated town and state raised the property and state taxes to the bloody moon in the first place? Probably not. But have no fear Mr. Lajqi. There will be no need to raise the price of your bagel and lox after all — although, knowing “youse guys” as well as we do, we suspect that you will probably raise prices anyway and then blame it on Trump!
Had the superficial scribblers at Sulzberger’s Slimes made the effort to perform a few 5th grade level calculations, they would quickly see that in spite of the $10,000 cap on deductions for local & state taxes, only the wealthiest New Jerseyians will end up paying a bit more in taxes. As the chart below clearly illustrates, the cutting of Federal rates (on top of the increase in the standard deductions) will offset the reduced write-offs.
*Middle Class brackets highlighted
|Income Tax Rate
||Income Levels for Those Filing As:
It only takes 60 seconds of research and 5th grade math skills to debunk the fear-mongering of the Fake News.
Let ‘s say that the two-income Smith family of high-tax Bergen County, NJ has $100,000 of taxable income and that their property plus state income taxes total $20,000. With the new $10,000 cap, they would lose a whopping $10,000 worth of deductions. At a current rate of 25%, that amounts to an increased tax bill of $2,500. ($10,000 x .25) Damn Trump!!! Right?
Not so fast. Here’s what Sulzberger’s Slimes and the rest of the Piranha Press are deliberately downplaying. With the coming rate reduction for the Smith’s bracket (22%), they would owe the Feds $22,000 instead of $25,000, a savings of $3000 — $3,000 gained – $2,500 lost = a total annual tax reduction of $500. Now that is still less of a tax cut than that of a counterpart residing a low-tax / no state income tax state, but it is still a reduction nonetheless.
We calculated many different scenarios and estimate that the only people who will be paying noticeably higher taxes are those households with incomes above $250,000 living in homes valued at $1 million or higher. That’s unfortunate for that small minority, but why should they be subsidized by the low-tax states? Besides, most of the really affluent New Jerseyans are either Jewish or old-line Puritan blue-blood libtards anyway. F em’!
The Slimes cherry-picked and photo-featured anxious (and presumably wealthy) Jewish business owners to whine about how the coming tax plan is going increase their tax bills by a few shekels (if at all) — Above: George Press (cough cough), Walter Levine (cough cough) and Shawn Klein (cough cough)
Personal exemptions will also be lost with this program, but the standard deduction is going up to compensate for it, at least partially. That might not offset the lost exemptions totally for some people, but again, when combined with the lower rates it’s still a net cut for all but the very top earners, albeit chump change. As for fears over future Demonrat tax hikes on top of the lost deductions, now that is a very real concern.
And so, for all of our dear home-owning readers in libtarded Marxified high-tax states like New Jersey, New York, Connecticut, Massachusetts, Commiefornia etc, be not troubled. It’s just the Fake News doing what they always do, namely, lying through their evil stinking teeth! You will still get some of the pathetic crumbs which Trump and the Republican’ts will so graciously drop down to us hungry goldfish, or, at worst, end up getting a slightly smaller “refund” in 2019.
On a separate note, we would like to point out that if we gave up the Global Empire and its associated military costs, shut down the Departments of Education, Interior, Labor, Transportation, Commerce (just for starters), kick all recent immigrants off of welfare / Medicaid, and take away Socialist Security and Medicare from elderly millionaires and elderly immigrants who just arrived as “chain migrants” — we could knock the income tax rate down to zero for about 90% of all working people, and not have to fret over a few lost “write-offs.” Now that would really “make America great again” — at least in the economic sphere.
Unless and until the warfare / welfare states are dismantled and the U.S. Constitution restored, the tax cuts bestowed upon us lowly peasants will only amount to crumbs. That being said, almost everyone in America — even those in the high tax states who will lose some deductions — will still be paying less under the Trump plan.
Boobus Americanus 1: I read an article in the New York Times today about how Trump’s tax plan is going to rape all of us here in New York and New Jersey.
Boobus Americanus 2: Trump and the Republicans are really sticking it to the Northeastern blue states.
Sugar: Boobusss, you $#&^%@ idiot!!! If you hadn’t elected all those communisst Democratss to your sstate legisslature, you wouldn’t have to worry about losst tax deductionss related to your ssky-high local and sstate taxess.
Editor: It’s only a matter of time before Boobus escapes to a conservative low tax state and brings his libtardism along with him.
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