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Re: Republican tax plan to lower cap on mortgage interest deduction to $500,000 loans

By: zzstar in FFFT3 | Recommend this post (0)
Thu, 02 Nov 17 10:48 PM | 44 view(s)
Boardmark this board | Food For Further Thought 3 		Msg. 37998 of 65535
(This msg. is a reply to 37989 by clo)
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The estate tax is about the “unfairness of double taxation”, but the taking away state and locals tax deductions ISN’T.

Republican sheisterism at its worst.


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The above is a reply to the following message:
Republican tax plan to lower cap on mortgage interest deduction to $500,000 loans
By: clo in FFFT3
Thu, 02 Nov 17 9:04 PM 		Msg. 37989 of 65535

a snippet that will cause many repubicans in these states to be opposed to this bill.

Families would also no longer be able to deduct their state income taxes from their federal taxable income, another change that would have a particular impact on places like New Jersey and New York, where state taxes are higher than in other areas.

And Americans would no longer be able to deduct their medical expenses or property and casualty losses, according to a document outlining the plan.

http://www.washingtonpost.com/business/economy/republican-tax-plan-to-lower-cap-on-mortgage-interest-deduction-to-500000-loans/2017/11/02/c0f594d6-bfd5-11e7-8444-a0d4f04b89eb_story.html?hpid=hp_no-name_no-name%3Apage%2Fbreaking-news-bar&tid=a_breakingnews&utm_term=.282a13502b16

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