Don’t forget THIS item that enables local and state officials to tax you crazy

https://i2.wp.com/www.rollingalpha.com/wp-content/uploads/2015/10/tax-collection.gif?resize=570%2C446

Are you following the tax reform story?

If you’re not, don’t get too upset.  Don’t get too excited. The very fluid situation is going to change, a lot, and often.

One of the more controversial elements of the GOP discussion is getting rid of the state and local property tax deduction on your income tax.

Personally, I hope the deduction stays because I happen to live in Franklin, Wisconsin, a veritable Tax Hell. I want to be able to continue to deduct those disgustingly obscene taxes.

On the other hand…

Rachel Greszler is a senior policy analyst in economics and entitlements at The Heritage Foundation’s Center for Data Analysis. She writes a brilliant commentary in The Daily Signal that I’m sure is overlooked by 99% of us poor saps that pay enormous property taxes, never complain, and just bend over and take it. Again. And again. And again.

Did I mention her commentary is brilliant?

I repeat. It’s brilliant.

Please read the first four paragraphs of her commentary. Then come back.

First four paragraphs.

Did you catch that?

As a result (of the deduction), state and local lawmakers are quicker to raise taxes beyond the level that is needed to finance their essential services.

As a result (of the deduction), state and local lawmakers are quicker to raise taxes beyond the level that is needed to finance their essential services.

As a result (of the deduction), state and local lawmakers are quicker to raise taxes beyond the level that is needed to finance their essential services.

And if you read the entire commentary…more brilliance.

If removing the property tax deduction (and other state and local tax deductions) would create a big burden for taxpayers in high-tax states, that’s a problem for state governments to address by lowering their tax burdens.

BINGO!

Unfortunately I fear that brilliance will be lost among leaders in my and many other over-taxed communities.

2 thoughts on “Don’t forget THIS item that enables local and state officials to tax you crazy

  1. Pingback: UPDATE: Don’t forget THIS item that enables local and state officials to tax you crazy | This Just In… From Franklin, WI

  2. Pingback: My Most Popular Blogs (11/06/17) | This Just In… From Franklin, WI

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