LOCKED: Disgusted with progressives

https://www.afp.com/en/news/2265/worst-case-global-warming-scenarios-not-credible-study-doc-wx0de1

For lack of a better thread .......

California is now going to prosecute employers trying to help federal immigration authorities enforce immigration laws. Seems reasonable. Only on the left...

posted by iclfan2

California is now going to prosecute employers trying to help federal immigration authorities enforce immigration laws. Seems reasonable. Only on the left...

That's pretty unbelievable.  I think it can only be explained as pure pandering to the hispanic vote.   And it's always good to throw some fresh meat to the SJW population out there.

posted by gut

That's pretty unbelievable.  I think it can only be explained as pure pandering to the hispanic vote.   And it's always good to throw some fresh meat to the SJW population out there.

I am not sure if they have the balls to follow through with this and gut is likely right its just fresh meat.  But in all reality it's open rebellion against a federal law.  You have state officials threatening employers with criminal prosecution for complying with federal law.  The threat itself scares employers and more dollars to their legal team.  I am a libertarian at the federal level of governance.  Many other states swallow federal laws they do not like.  This would go beyond nullification of federal law and criminalize compliance with it.

Just a proposal but it seeks to use a tax "loophole" which the left supposedly hates.

http://www.latimes.com/opinion/editorials/la-ed-salt-tax-gimmick-20180106-story.html

A case in point is the proposal Senate President Pro Tem Kevin de León (D-Los Angeles) unveiled Jan. 3 in California. De León would enable residents to contribute money to a new “California Excellence Fund” in exchange for an equal amount of tax credits — for example, a family that owed $4,000 in state taxes could contribute $4,000 to the fund and wipe out its state tax bill. They could then deduct their contribution to the fund from their federal taxable income, just as they used to do with their state tax payments. That’s because the new federal tax law leaves the deduction for charitable contributions intact, unlike the one for state and local taxes.

posted by majorspark

Just a proposal but it seeks to use a tax "loophole" which the left supposedly hates.

http://www.latimes.com/opinion/editorials/la-ed-salt-tax-gimmick-20180106-story.html

Hypocrisy aside, that's pretty brilliant (although unlikely to fly because qualified charitable contributions isn't exactly a loophole that has escaped scrutiny for decades).  Probably a loser, but I like the idea.

But I think the argument is a lot more complicated (and a windfall for partisan airbags).  I thought my taxes would increase, too, but turns out I get a decent cut because of changes to the AMT.  Most of the people with high itemized deductions relative to income will actually be paying less because of those changes to AMT.

CA and NY, in particular, may be at risk because SALT is so high.  But a rich guy in Columbus is paying 6% income tax, and probably another $15k or more in property taxes....if he makes $1M, it's like $70k in Columbus vs. $140k in CA....which the net federal tax deduction benefit would have been less than $25k.  No idea what those AMT estimates are, but safe to say a good bit less than $25k.  Maybe that causes a few rich people to bail on CA, but unlikely because we're talking, at worst, $10-$20k for someone making $1M.  

Just too funny to see a small tax increase on the 1% draw so much ire and resistance.

posted by majorspark

Just a proposal but it seeks to use a tax "loophole" which the left supposedly hates.

http://www.latimes.com/opinion/editorials/la-ed-salt-tax-gimmick-20180106-story.html

Yes, but if their 'charitable deductions', when added to other deductions (which are now greatly limited), do not exceed the new standard deduction, then I don't see this being a real end-run. 

posted by QuakerOats

 

Yes, but if their 'charitable deductions', when added to other deductions (which are now greatly limited), do not exceed the new standard deduction, then I don't see this being a real end-run. 

When you include property taxes on top of high state income taxes, you get over $12k in deductions pretty quickly (plus high mortgage interest).

But it's really funny that they appear to be nervous about just how much revenue gets collected under the new law.  Because at the end of the day, since Dems are the new deficit hawks (again), they are taking deliberate action to INCREASE that deficit.....and doing it by giving tax cuts to the rich they keep crying aren't paying their fair share.

The new standard deduction is $24k

posted by QuakerOats

The new standard deduction is $24k

For a couple, true, but that doesn't really change what I said.  A lot of "middle class" people in NY or CA are going to have over $20k just in mortgage interest alone.  Then add another $10k for state income and property taxes...

I don't think people realize what a middling salary is in these states - while COL is more than double where you probably live, wages are also a lot higher.  And a $750k mortgage gets you a shitbox to live in.

http://www.sacbee.com/news/politics-government/capitol-alert/article195405279.html

eye opening ............thank God I don't live there.

posted by QuakerOats

http://www.sacbee.com/news/politics-government/capitol-alert/article195405279.html

I thought the study about "entrenched" millionaires was more interesting.  Makes sense, as a lot of times you can't just move a successful business.  And the weathy are tied into social circles.  But they ARE losing some businesses, and probably losing more start-ups.

However, it's REALLY easy to spend 6 months in NV or FL to establish residency and still spend almost 6 months in CA without any crimps in your social life.  But that only works if you're retired, otherwise income is sourced where it's earned.

Lol some California legislators want to increase the state income tax rate to Corporations to offset the Corp tax cuts. Good luck.

http://www.sacbee.com/news/politics-government/capitol-alert/article195434569.html

posted by iclfan2

Lol some California legislators want to increase the state income tax rate to Corporations to offset the Corp tax cuts. Good luck.

http://www.sacbee.com/news/politics-government/capitol-alert/article195434569.html

Forget higher wages and lower prices!  Bureacrats gotta go grab that tax cut for themselves to redistribute to gubmit dependents.

Hasn't California aready had a problem with companies leaving the state for places like Texas and other lower taxing states?  I bet the moving vans will be traveling east load and empty on the return trips.

posted by 19AL63

Hasn't California aready had a problem with companies leaving the state for places like Texas and other lower taxing states?

Yes, and Texas welcomes those companies with open arms.

posted by CenterBHSFan

Yes, and Texas welcomes those companies with open arms.

If CA did this, you're talking over 15% in corporate taxes (although TX does tax corporations, but nothing remotely close to that)....plus another top rate of 13% on personal income.  That is one HELL of a nut, probably 25% more than TX (nevermind sales tax, property tax and other local taxes).

You pay taxes where the income is earned (you'll pay taxes on ALL your income, but you'll get a credit for whatever other state income taxes you pay), but if I had significant income outside CA....let's say I own a business and if I had even $250k of revenues outside of CA, you're talking at least $50k for the privilege of having my business in CA.

You employees might not want to move but, I'd probably pay a good chunk of your moving expenses....you all get a huge raise, too, because the COL will be so much cheaper.

https://www.hollywoodreporter.com/news/how-trump-trauma-is-crippling-news-media-guest-column-1077062

imagine if The Donald decides to run again ........oh my

http://www.foxnews.com/us/2018/01/24/new-york-city-professor-tells-pro-life-marchers-to-sit-down-and-shut-up.html

someone is mad

posted by QuakerOats

http://www.foxnews.com/us/2018/01/24/new-york-city-professor-tells-pro-life-marchers-to-sit-down-and-shut-up.html

 

 

someone is mad

Wonder how she feels about the First Amendment?