New York governor considering tax restructuring following federal tax overhaul - Polidicks

[QUOTE]WASHINGTON (Reuters) - The governor of New York said on Thursday that the state was considering restructuring its tax code in response to a federal tax overhaul bill that recently became law, which he said may be unconstitutional. Republicans in Congress passed the largest overhaul to the nation’s tax code in three decades last week, a bill that U.S. President Donald Trump signed into law on Friday. Among the changes to the tax code is a cap on a deduction for state and local taxes. Critics to that provision say it penalizes states like New York that have high taxes, many of which did not vote for Trump or have Republican senators. “We’re going to propose a restructuring of our tax code. I‘m not even sure what they did is legally constitutional and that’s something we’re looking at now,” said Andrew Cuomo in an interview with CNN. “You can change the tax code. You can’t penalize my state because of its political affiliation. There’s never been a double taxation before in the history of the nation,” Cuomo added, although he suggested a legal battle in the court system may prove difficult.[/QUOTE] [URL="https://www.reuters.com/article/us-usa-tax-new-york/new-york-governor-questions-the-constitutionality-of-federal-tax-overhaul-idUSKBN1EM1A1?utm_campaign=trueAnthem%3A+Trending+Content&utm_content=5a45082204d30127446827de&utm_medium=trueAnthem&utm_source=facebook"]Reuters.[/URL] Very short article.

I suspect the SALT cap will be quickly tossed, now that the bill is law they do not need to care about balancing the numbers and if they make a deficit argument they should be beaten with rubber chickens for being hypocritical Besides all tax cuts pay for themselves now no matter what

I don't really know much about the different tax burdens by state, so I looked some information up. [url=https://wallethub.com/edu/states-with-highest-lowest-tax-burden/20494/#red-vs-blue]Via Wallethub[/url], which ranked each state by total taxes, which is made up of individual taxes, property taxes, and total sales and excise taxes. [t]https://i.imgur.com/7bYXGiD.png[/t] As the state gets darker, the higher the tax burden is. New York is #1, followed by Hawaii, Vermont, Maine, Minnesota, Connecticut, New Jersey, Rhode Island, Illinois, and California to round out the top 10 states.The bottom 10 are Virginia, Montana, Wyoming, Alabama, South Dakota, Florida, New Hampshire, Oklahoma, Tennessee, Alaska and Delaware being #50. If you compare that to the map from the 2016 election [t]https://i.imgur.com/3SYfg3T.png[/t] Out of the top and bottom 10 only Virginia, New Hampshire and Delaware buck the trend of Red vs Blue states.

Would be funny if this was an attempt to continue the narrative of how democrats make you pay more tax, even tho it was a republican tax bill.

[QUOTE=Sableye;53011324]I suspect the SALT cap will be quickly tossed, now that the bill is law they do not need to care about balancing the numbers and if they make a deficit argument they should be beaten with rubber chickens for being hypocritical Besides all tax cuts pay for themselves now no matter what[/QUOTE] How do they pay for themselves "no matter what"? I'm curious about the math on that.

[QUOTE=Tigster;53011457]How do they pay for themselves "no matter what"? I'm curious about the math on that.[/QUOTE] Given that it's sableeye that was probably a joke

Why would anyone think that the federal government has some constitutional obligation to compensate a state's citizens with subsidies because they pay high state taxes? If you want high taxes in your state, then the people in your state ought to carry that full burden. (I say this as a resident of California)

[QUOTE=sgman91;53011647]Why would anyone think that the federal government has some constitutional obligation to compensate a state's citizens with subsidies because they pay high state taxes? If you want high taxes in your state, then the people in your state ought to carry that full burden. (I say this as a resident of California)[/QUOTE] Why should Californians pay the bill for a hillbilly in Alabama blowing his hands off?

[QUOTE=TheDestroyerOfall;53011674]Why should Californians pay the bill for a hillbilly in Alabama blowing his hands off?[/QUOTE] Can you restate that for me? Are you talking about federally funded medical costs?

[QUOTE=sgman91;53011679]Can you restate that for me? Are you talking about federally funded medical costs?[/QUOTE] Californians pay an obscene amount in regards to the care for other states. that includes federally funded medical costs, medi-care, food stamps, and unemployment, ironically for people who support republicans in power. My question, then, is why as californians have to pay for the poor decisions in alabama? [url]https://taxfoundation.org/press-release/federal-taxing-and-spending-benefit-some-states-leave-others-paying-bill-1/[/url]