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Well, they used not to notice it as they were writing off the local taxes against fed taxes. I cannot wait until 2018 tax bills hit home. They should be eye ope
by notyourday 9y ago
Well, they used not to notice it as they were writing off the local taxes against fed taxes. I cannot wait until 2018 tax bills hit home. They should be eye opening to Manhattan/Williamsburg/Park Slope set
- dragonwriter 9y ago> Well, they used not to notice it as they were writing off the local taxes against fed taxes. Deducting state taxes make state taxes look exactly like loss of income. If you would notice an equally heavy loss of income, you'll notice state taxes even with full deductibility. Now, if it was a federal tax credit at full value of state taxes paid, sure, you wouldn't notice the state taxes. But that was never the situation.
- lr4444lr 9y agoMuch the Schadenfreude as I will have when a well-off population that generally promotes higher tax rates gets what it asked for, I don't think they "don't notice it" when they sign off on their annual filings and see their refund check. After all, they're only getting back their marginal federal rate, not the entire amount. It's how little they get for their money compared to other countries after what they (net) pay, or how little people pay elsewhere in the country for not much comparably less, that I would hope sparks a productive response toward city, town, and state agencies.