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2024 Presidential Election | ELECTION DAY 2024
- Thread starter nycfan
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- Politics
StrangePackage
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I like how he conflates defending Elon Musk’s interests (and misrepresents the issue raised by the EU as anti-Trump) with defending free speech.
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Me too. I don’t want to be anywhere near a polling place on Election Day.
SnoopRob
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It was called the Governor’s Efficiency Commission. I was part of it. The group I worked with studied the UNC system, the community college system and the public schools. One of our recommendations was consolidation of the various school systems in the counties into one system. One of the small counties down east had four or five school systems. I think just about all the counties have just one system now.
rodoheel
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I definitely agree with that, but candidly given the current deficit we can't really afford to cut many taxes. We need to be increasing tax revenue, not decreasing it. Any cut in taxes has to be more than offset by increases somewhere else.
My personal preference, to start, would be (1) to lower the estate tax threshold, which is super high, by several million dollars (say, to around $7-8 million, from its current $13+ million); and (2) to create at least one income tax bracket, and possibly two, above what we currently have. The current highest tax bracket is 37% on income above $609k for individuals and $731k for married couples. I would create a 40% tax bracket beginning at $1 million and a 45% tax bracket beginning at $3 million.
superrific
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1. That's only true in a recession. In a full employment economy, the macroeconomic effects will be more or less the same. If there's a difference, it will likely favor tax cuts on the rich (depending on your definition of rich) because the rich are typically still working. So the disincentive to work applies in one case and not the other. Now, I happen to think that the "marginal taxes on income disincentivize work" effect is small, which is one of many reasons I'm not a conservative, but small is better than zero. Note: the tax cut, unlike the Trump tax cuts, would have to be on work and not passive income, but anyway . . .
So the case here for SS tax cuts wouldn't be economic but rather fairness. The old folks deserve to keep more of their money, more than the rich. Something like that.
2. There are plenty of folks here on SS who therefore know more than me, but I wouldn't imagine that the average SS recipient is paying much tax on SS. The SS payments just aren't going to be sufficient to kick the recipient much above the zero-tax levels. The SS tax cut would be more beneficial to people who have a bunch of investment income from stuffed IRAs, etc. So it would still be a tax cut for the well-to-do, if not the wealthy.
Man, if you ever lower the estate tax threshold, there are going to be a lot of rich people getting the plug pulled ASAP.
I think the number of school systems across the state is down to 105 or 106, and the NCGA is leaning on one of the big remaining city systems (Asheville City Schools) to consolidate with Buncombe County.
Another I know a little about is in my home county -Davidson- where Lexington City Schools are holding our for fear of diluting minority presence. The city schools are majority minority both in student population and school board membership, and they fear that if they merge the minority students will get lost in their new environments and the supportive environment they've created for themselves over many generations will be lost as well.
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Married filing jointly, if combined income exceeds $44,000 ($35K for single filers) 85% of SS benefit is taxable income. So if you are getting SS while the other spouse is still working you'll be over the threshold. But you're right that it mostly impacts people who have investment income.
SnoopRob
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I didn't know that there was such a push for each county to only have one school system.
If that's the case, how in the heck does Catawba County still have 3 different school systems?
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Trump Pledges to Restore SALT Write-Off
"Donald Trump said that he would revive the state and local tax deduction, a popular tax break for New Yorkers that the former president limited during his time in the White House," Bloomberg reports. Said
politicalwire.com
"... Said Trump: “I will turn it around, get SALT back, lower your Taxes, and so much more.”
“Limiting the SALT deduction had broad support from Republican members of Congress — and not just because it helped offset other provisions to reduce tax rates and increase the standard deduction. Capping the deduction has had a disproportionate impact on jurisdictions that have higher taxes and property values — which tend to be dominated by Democrats.” ..."
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Previously, Trump had basically told high tax Blue states to go pound sand about the SALT deduction, but since he decided he can fund the entire government and payoff the National Debt with ... tariffs ... he is more than willing to promise to cut all income taxes for everyone, I think, if it gets him elected.
lawtig02
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He’s giving away a shit ton of money right now to be the nominee of the Fiscally Conservative Party.Trump Pledges to Restore SALT Write-Off
"Donald Trump said that he would revive the state and local tax deduction, a popular tax break for New Yorkers that the former president limited during his time in the White House," Bloomberg reports. Said
"... Said Trump: “I will turn it around, get SALT back, lower your Taxes, and so much more.”
“Limiting the SALT deduction had broad support from Republican members of Congress — and not just because it helped offset other provisions to reduce tax rates and increase the standard deduction. Capping the deduction has had a disproportionate impact on jurisdictions that have higher taxes and property values — which tend to be dominated by Democrats.” ..."
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Previously, Trump had basically told high tax Blue states to go pound sand about the SALT deduction, but since he decided he can fund the entire government and payoff the National Debt with ... tariffs ... he is more than willing to promise to cut all income taxes for everyone, I think, if it gets him elected.
superrific
Legend of ZZL
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Well, that and he has to win some of these higher-tax states where he is currently losing. I know the SALT deduction is a concern in the Philly burbs.Trump Pledges to Restore SALT Write-Off
"Donald Trump said that he would revive the state and local tax deduction, a popular tax break for New Yorkers that the former president limited during his time in the White House," Bloomberg reports. Said
"... Said Trump: “I will turn it around, get SALT back, lower your Taxes, and so much more.”
“Limiting the SALT deduction had broad support from Republican members of Congress — and not just because it helped offset other provisions to reduce tax rates and increase the standard deduction. Capping the deduction has had a disproportionate impact on jurisdictions that have higher taxes and property values — which tend to be dominated by Democrats.” ..."
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Previously, Trump had basically told high tax Blue states to go pound sand about the SALT deduction, but since he decided he can fund the entire government and payoff the National Debt with ... tariffs ... he is more than willing to promise to cut all income taxes for everyone, I think, if it gets him elected.
superrific
Legend of ZZL
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Well, hmm, about that fiscal conservative thing . . .
Of course Trump is trying to buy the election. What else does he have? I'd love someone to ask him if all this deficit spending would cause inflation. If not, it means Biden didn't cause inflation either.
