[fintstone]

Originally Posted by jwasbury

fint, you can't look solely at the rates, which were absolutely lower. The other piece of the equation is that deductions have been limited...particularly deductions for taxes paid (state income taxes and property taxes). So while the rates are lower, and your gross income can be same as previous years, your taxable income may be higher. those of us in the highest tax states like NY/NJ (where its "normal" to pay 20k in property taxes per year) are all going to pay more under the new law, even if our income is static.

I made the assumption...because I know these folks we are discussing are not wealthy and do not live in a high tax state. I would expect those in a high tax state to pay more...by design. It was a subsidy that was intentionally reduced to level the "playing field". Those states/localities need to rethink electing folks that waste their money/buy votes.

Tough break for those that live there. They really need to rethink whom they elect (and maybe consider relocating like so many others).