2 ms·
Because unless you can figure out how to get the government to count tax twice that's where the money is going to come from... disposable income now going to ta
by mythrwy 9y ago
Because unless you can figure out how to get the government to count tax twice that's where the money is going to come from... disposable income now going to tax.
Otherwise now the government now has less money to spend. Aka the "no fuel for trucks" you mention.
- cma 9y ago>Because unless you can figure out how to get the government to count tax twice that's where the money is going to come from... disposable income now going to tax. State tax is deductible from federal taxes up to $10,000. So you can pay that $300 without it all coming out of after tax income. Most people may not go over standard deduction, but dollar wise state tax is probably paid by high earners who will, since there is a graduated income tax in Oregon.
- deleted 9y ago[deleted]
- CryptoPunk 9y agoWon't that require the federal government to raise the income tax rate to make up for the revenue lost from the deduction? I don't see how the extra expense won't ultimately result in additional taxes.
- cma 9y agoThere would be some, but not the full amount because pensioners will pay federal tax on the pensions.