Taxes

[mudeltaforcegurl]

I'm not the one who finds it mind boggling that a person can own a house but still struggle to afford food, or who believes such a person lacks personal responsibility. That's your assumption.
I'm just pointing out some of the many instances in which such an assumption makes a you-know-what out of the person making it.

You are the one that finds it mind boggling that people are irresponsible and buy things they can’t afford.

[rocket surgeon]

In the metro Chicago area, the property tax on a $300K home can approach $10K.

And if I am not mistaken, that $10K also includes all state and local taxes, including income tax.

i'm just inside the township of waukesha-pay $5k, literally off my backyard is city.  move my house 500 feet to the west, my bill becomes $10k.  in Az., fairly similar value as wi. paying about $2k including HOA.  my bro-in-law has a 5000 sq.ft. joint in lisle-$25k

[rocket surgeon]

Your empathy is something to behold.

rather than making an assumption that mudfg lacks empathy, how about pointing out where his/her statement is wrong.  you're picking a nit pakman.  i know of a number of people who came upon some bad times.  they did what they had to do.  it sucks, but life ain't fair man.  some people prepare for these situations, some people know people who can help them, but i'm not quite sure what you're looking for here

[Pakuni]

You are the one that finds it mind boggling that people are irresponsible and buy things they can’t afford.

Nope.

[Pakuni]

rather than making an assumption that mudfg lacks empathy, how about pointing out where his/her statement is wrong.  you're picking a nit pakman.  i know of a number of people who came upon some bad times.  they did what they had to do.  it sucks, but life ain't fair man.  some people prepare for these situations, some people know people who can help them, but i'm not quite sure what you're looking for here

I did point out where she was wrong. You're welcome.

I've found that the people mostly likely to say "life ain't fair" are the people who've rarely, if ever, had to deal with real hardship. Because those who have had to deal with real hardship know what it's like and have empathy for those experiencing the same.

[rocket surgeon]

I did point out where she was wrong. You're welcome.

I've found that the people mostly likely to say "life ain't fair" are the people who've rarely, if ever, had to deal with real hardship. Because those who have had to deal with real hardship know what it's like and have empathy for those experiencing the same.

  oh boy...who said they are without empathy?  and you've just so happened to find a lot of people who lack empathy.  i have found  a lot of people who are kind and have helped a lot of people down on their luck.   

  btw,  i remember some very hard times myself, but it only motivated me to correct them. 

[dgies9156]

In the metro Chicago area, the property tax on a $300K home can approach $10K.

And if I am not mistaken, that $10K also includes all state and local taxes, including income tax.

Sister Chick, you are not mistaken. SALT means State and Local Taxes. 

In many north suburbs, a $300,000 house alone may generate well over the $10,000 cap on its own.  That's before Illinois's income taxes and does not consider one of the highest sales tax rates in the nation.

Big question for many taxpayers is with the SALT limitations and limitations on mortgage interest PLUS the $24,000 standard deduction, do you buy a home? In my case, this will be the first time I did not itemize since 1984.

[mudeltaforcegurl]

I did point out where she was wrong. You're welcome.

I've found that the people mostly likely to say "life ain't fair" are the people who've rarely, if ever, had to deal with real hardship. Because those who have had to deal with real hardship know what it's like and have empathy for those experiencing the same.

Where was I wrong? I said there are some people that are irresponsible and some that had bad circumstances occur.

[withoutbias]

w/ the government on its way to a second shutdown largely due to democrats not giving up $5.7B to fund a wall mexico is already funding (?) you don’t have to pay any taxes, so thats cool!

[D'Lo Brown]

This thread is about to shutdown.

[warriorchick]

Sister Chick, you are not mistaken. SALT means State and Local Taxes. 

In many north suburbs, a $300,000 house alone may generate well over the $10,000 cap on its own.  That's before Illinois's income taxes and does not consider one of the highest sales tax rates in the nation.

You are preaching to the choir, my friend.

There is no question that our president decided that the the federal government would no longer subsidize the blue states by continuing to let their high taxes be deductible for Federal purposes.

It's one more reason Glow and I intend to get out of Illinois as soon as reasonably possible.

[DegenerateDish]

This thread will be locked soon, but what’s going on with Ed Burke, Solis, the Chicago mayoral race has been fascinating to watch. I didn’t have a good other place to post that, so thought I’d toss it in here.

[Chili]

You are preaching to the choir, my friend.

There is no question that our president decided that the the federal government would no longer subsidize the blue states by continuing to let their high taxes be deductible for Federal purposes.

It's one more reason Glow and I intend to get out of Illinois as soon as reasonably possible.

You've got this backwards since the states that get the most federal money are all red states. Blue states tend to be net payers into the federal government even with the previous SALT deductions.

Personally I think the next hurricane that hits Texas or Florida should be funded out their state residents pockets. They should pay their own damn taxes rather than relying on the rest of us to subsidize their no state income taxes.

[warriorchick]

You've got this backwards since the states that get the most federal money are all red states. Blue states tend to be net payers into the federal government even with the previous SALT deductions.

Personally I think the next hurricane that hits Texas or Florida should be funded out their state residents pockets. They should pay their own damn taxes rather than relying on the rest of us to subsidize their no state income taxes.

You are missing the point.  The Blue states thend to have higher SALT rates, and because these taxes are deductible, the federal government is  underwriting part of that cost.

If a blue state decides to have higher taxes,  why should the Federal government collect less in tax revenue as a result?

[forgetful]

You are missing the point.  The Blue states have higher SALT, and because these taxes are deductible, the federal government is  underwriting part of the cost to the taxpayer by making them federal tax-deductible.

If a blue state decides to have higher taxes,  why should the Federal government collect less in tax revenue as a result?

I think most of the people on here are missing the point. Most (I'm sure not all), of us that regularly post on here lived pretty blessed lives. We do not want for food, or shelter, or safety. We can relax in comfortable homes and root on our favorite team. Not all are so fortunate.

Paying a little less or a little more in taxes, isn't affecting most of our lives. Maybe our time and energy would be better spent focusing on what we can do for each other a little more.

Note this is not directed at you at all, more a mixture of self-reflection and general observations regarding how much we argue over little details (and how many threads spiral into lockdown), and worry about whether our state, our side, etc, is getting its fair share, when in reality we should be focusing on what we can do to make things better.

[mudeltaforcegurl]

I think most of the people on here are missing the point. Most (I'm sure not all), of us that regularly post on here lived pretty blessed lives. We do not want for food, or shelter, or safety. We can relax in comfortable homes and root on our favorite team. Not all are so fortunate.

Paying a little less or a little more in taxes, isn't affecting most of our lives. Maybe our time and energy would be better spent focusing on what we can do for each other a little more.

Note this is not directed at you at all, more a mixture of self-reflection and general observations regarding how much we argue over little details (and how many threads spiral into lockdown), and worry about whether our state, our side, etc, is getting its fair share, when in reality we should be focusing on what we can do to make things better.

It was not my intent to start arguments. I was curious about what others experienced personally with the tax law changes. Maybe we can circle back to the original post.

[Jay Bee]

MANY irresponsible, greedy lazy pricks outspend their means. Pakuni believes the smart & successful should bail them out. Bizarre, but that’s where we’re at.

[D'Lo Brown]

MANY irresponsible, greedy lazy pricks outspend their means. Pakuni believes the smart & successful should bail them out. Bizarre, but that’s where we’re at.

Do you always get this angry when you drink?

[Jay Bee]

Do you always get this angry when you drink?

^^^ ban dis (guy???)

[jesmu84]

MANY irresponsible, greedy lazy pricks outspend their means. Pakuni believes the smart & successful should bail them out. Bizarre, but that’s where we’re at.

MANY irresponsible, greedy pricks at the top of the "food chain" get bailed out all the time by the rest of us too. Crazy, but that's where we're at.

[Jay Bee]

MANY irresponsible, greedy pricks at the top of the "food chain" get bailed out all the time by the rest of us too. Crazy, but that's where we're at.

Oh. They stop paying their home mortgages and walk away at the same rate?

Interesting.

[Cheeks]

I'm not the one who finds it mind boggling that a person can own a house but still struggle to afford food, or who believes such a person lacks personal responsibility. That's your assumption.
I'm just pointing out some of the many instances in which such an assumption makes a you-know-what out of the person making it.

Fair to say both occurrences are possible, yes?

[Benny B]

Paying a little less or a little more in taxes, isn't affecting most of our lives. Maybe our time and energy would be better spent focusing on what we can do for each other a little more.

Isn’t that what everyone’s doing...

The right wing version of charity: “I’ll help the people I want to help.”

The left wing version of charity: “I’ll help only if everyone else helps.”

Actually, seems to me that everyone’s greedy and selfish, the only difference between the two are the lies they use to justify their attitude. 

[dgies9156]

Personally I think the next hurricane that hits Texas or Florida should be funded out their state residents pockets. They should pay their own damn taxes rather than relying on the rest of us to subsidize their no state income taxes.

Excuse me, but we do!

In the state of Florida, built into Florida Power & Light's utility rate base is a hurricane recovery fund that charges every user of electricity a fee for getting the power on. Every year or so, a review is made of the fund and any shortfalls are recovered through the rates. Ever wonder why the power is back on in Florida generally within a few days while it tooks months in Puerto Rico?

Last fall, when a hurricane struck the panhandle, our first responders from throughout the state rushed to the panhandle to assist local governments with clean-up and a variety of public safety functions. That came from state and local money. We did it because we believe in the concept of neighborliness.

Ever try to buy homeowner's insurance in the State of Florida? Guess where the risk goes? Yeup, when the private insurance firms bailed on the state after Hurricane Andrew, the state stepped up. Yes, we reinsure part of it, but the State of Florida takes the core risk.

And yes, after Hurricane Andrew, our state did what it had to do so that far fewer federal relief dollars will ever find their way to Florida. We revised our building code so that new structures in the State of Florida meet the toughest residential building standards in the United States. As older structures are replaced or modified, our state expects that they'll meet standards applicable to a 140 mile an hour windstorm. Period.

You ridicule Florida for having no income tax. Let's understand why. First off, Florida has a very high sales tax. Say what you want about it (probably all true), it's lucrative. Secondly, the state has 21 million people and its business climate, weather and quality of life are such that within 10 years, we'll have 26 million Floridians. Our government has its problems but, gee, what would rather deal with: hurricanes, pesky alligators and regulating growth, or Mike Madigan and his $133 billion public pension deficit?

As a last thought, I also have a home in Illinois and I will tell you, if it was a "little more" taxes, nobody would complain. But it's NOT a "little more."

[Pakuni]

Fair to say both occurrences are possible, yes?

Yes, of course.