Federal tax bill could mean massive state tax hike for Georgians
Source: ajc
Georgians may wind up paying a massive $3.6 billion more in state taxes over the next five years because of changes made last month in the federal tax code.
The Atlanta Journal-Constitution obtained a copy of the Deal administrations estimate, which showed a huge windfall for the state.
Thats largely because the federal tax law touted by President Trump and Congress limited or eliminated some of the deductions Georgians have used in the past and made it far more likely that ratepayers will use the standard federal deduction, rather than lowering their taxable income using itemized deductions.
So while many Georgians may pay less in federal taxes, they will wind up with bigger state tax bills.
Read more: http://www.myajc.com/news/state--regional-govt--politics/federal-tax-bill-could-mean-massive-state-tax-hike-for-georgians/80vhkGxxDRx7eE02AF7cuN/?ecmp=newspaper_email&
ladjf
(17,320 posts)Phoenix61
(17,019 posts)little Trumpsters. As they say, elections have consequences.
Mr. Ected
(9,670 posts)We're the ones fellow DU'ers should feel sorry for.
Then again, I almost don't mind paying the extra tax just to be able to upbraid every single Trumpie I meet, and I meet a lot of Trumpies out here in the Georgia boonies.
Phoenix61
(17,019 posts)for somebody else being stupid. I'm in the Fl panhandle and surrounded by Trumpsters although I don't see anywhere near as many bumper stickers as I used to and the yard signs are all gone. Lots of folks here are on Medicare and/or Medicaid. Many others work in nursing homes and hospitals. Lots of retired military. I think all of them have come to the realization they were conned.
getagrip_already
(14,837 posts)targeted at red states only of course.