Once upon a time, Beloved Leader's puppeteers at the Heritage Foundation said this which I think provided The Fearless One with a sound bite or two for the Millionaire Pundit Class:
"Repealing Tax Cuts Equals a Tax Increase"
And said it pretty unequivocally, I might add. Now check this out:
If you're looking to buy a car, or get rid of one, changes to the nation's tax code can make it wise to act before Jan. 1.
Two new tax rules relate to autos, trucks, boats and other vehicles. One reduces the deductible value of vehicles that individuals give to charity starting Jan. 1, thus making it smart to donate before year-end if you're so inclined.
The other, more significant rule lets taxpayers deduct either their state and local income taxes or their state and local sales taxes - the first time since the mid-1980s that Uncle Sam has allowed a sales-tax break.
SO, I guess we could call those, what, unintentional infliction of wage-reduction measures for the Greater Good? After all, why encourage people to donate their used autos to be essentially recycled and monetize that incentive via a deduction? How silly. And that other thing about the deductability of other taxes, mere piffle...why we'll just do away with them, so we don't have to pay them locally, right? After all, we don't need police, firefighters and public schools. Such trivial extravagences.
YABL. Yet Another Bush Lie. And it's not even the coronation inauguration yet.
posted by Jo Fish on 12.23.04 at 10:20 AM
Comments:
The state and local sales tax deduction is a means of rewarding the Red States since many of them do not heavily tax income such as the Blue States.
posted by: Shag from Brookline on 12.23.04 at 10:42 AM [permalink]
I was in South Carolina a few years ago and was shocked to find out they tax food. The great state of Ohio doesn't do that.
When I mentioned it, the lady at the sales counter said "Uncle Sam has to take his cut." Then I pointed out sales taxes are a state thing, not a federal thing. Huh.
posted by: Tony Goins on 12.27.04 at 03:18 PM [permalink]
