US Elections (& Politics) :)

I got this in my email this morning....on the 4th of July, no less....
I'm moving toward full panic mode over what's happening all around us. When I was a kid it seems like the only big corruption was in the mafia and large democrat run cities (that's redundant I realize). Since then it has spread to corporations, colleges, school systems, banks, and just about everything else I can think of. With the BBB and reinforced by this email, it's hitting me that were in full "1984" mode, being told to believe things totally opposite of what we clearly see.

Which of these Orwell sayings haven't come to pass?:

War is peace. Freedom is slavery. Ignorance is strength.
Who controls the past controls the future. Who controls the present controls the past.
Doublethink means the power of holding two contradictory beliefs in one’s mind simultaneously, and accepting both of them.
It was merely the substitution of one piece of nonsense for another.
The war is not meant to be won, it is meant to be continuous.

Talking to her, he realized how easy it was to present an appearance of orthodoxy while having no grasp whatever of what orthodoxy meant. In a way, the world-view of the Party imposed itself most successfully on people incapable of understanding it. They could be made to accept the most flagrant violations of reality, because they never fully grasped the enormity of what was demanded of them, and were not sufficiently interested in public events to notice what was happening. By lack of understanding they remained sane. They simply swallowed everything, and what they swallowed did them no harm, because it left no residue behind, just as a grain of corn will pass undigested through the body of a bird.
 
And dated July 4, nothing in this statement is changed by the BBB.

Even though Oregon doesn't supposedly tax SS income, it can result in more tax because the SS income is included in AGI then subtracted out later. Oregon has a number of "tax cliffs", not ever adjusted for inflation of course, that eliminate deductions and credits when AGI passes over some fixed threshold.
 
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Happy Independence Day to all you "Radical Right" wing nut jobs who:

  • Thought "mass deportations" really meant "mass deportations
  • Believed "No Tax on Social Security"
  • Believe you'll see a $10,000+ raise in your paycheck this year
  • Believed we were actually going to reduce spending

 
I've never been there to know first hand, but this strikes me as the type of deceptive propaganda I picture happens in Russia. The tax laws changes have nothing whatsoever to do with how social security tax is calculated. It's just a lowering of taxable income from any source, one of which may or may not be social security. This conservative press for the most part just echos the falsehood. This is one case where the liberal press is more honest, in many cases pointing out exactly what the tax law changes really are.

This is from CNBC. OPB is also getting it right.
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I can see both sides. The increased deduction is only for those old enough to collect Social Security so it will help offset income and reduce tax liability for those collecting SS.

Nothing wrong with an additional $13,500 tax deduction! Not necessarily what I would do if I were President but I'm not going to turn it down.
 
I can see both sides. The increased deduction is only for those old enough to collect Social Security so it will help offset income and reduce tax liability for those collecting SS.

Nothing wrong with an additional $13,500 tax deduction! Not necessarily what I would do if I were President but I'm not going to turn it down.
That's all well and good, but stop saying 'no tax on SSI. That is a lie. SSI is still taxed. For me, I still pay tax on my SS payments. I get no benefit from this bill.

This administration is lying just as much as the Bidum administration was, just about different things.
 
The increased deduction is only for those old enough to collect Social Security so it will help offset income and reduce tax liability for those collecting SS.
Lots of people start pulling social security at age 62. According to bankrate.com, it's 27.3%. They get no increased deduction until age 65.
 
Lots of people start pulling social security at age 62. According to bankrate.com, it's 27.3%. They get no increased deduction until age 65.
I guess I'm just glad we're getting some kind of a decrease instead of an increase the last administration wanted.
With my Fed tax savings I can now pay the increased California gas tax.
 
One Big Beautiful Bill (also called the “Big Beautiful Bill”) in California, taxpayers would be able to deduct up to $40,000 in state and local taxes (SALT), including property taxes, on federal returns for the 2025 tax year

Key Details of the SALT Provision​

  1. SALT deduction cap raised to $40,000
  2. Income phase-out threshold at $500,000
  3. Annual adjustment by 1% through 2029
  4. Sunset back to $10,000 cap in 2030
  5. Only for itemizers
    • You must itemize deductions (rather than take the standard deduction) to use this. The standard deduction is $30,000 for married couples, $15,000 for singles in 2025 smartasset.com+9cnbc.com+9wsj.com+9.

High‑Tax States (NY, NJ, CT, MA, MD, DC, IL, WA)



Medium‑Tax States (CO, VA, AZ, NM, UT)

  • Some taxpayers here occasionally reached the old SALT cap. Now more households can benefit—but the impact is smaller compared to high‑tax states san.com+6wsj.com+6nowbam.com+6.
  • Standard deduction conformity varies: states like Colorado, Arizona, South Carolina, etc., must update laws to fully align with the federal changes .


Low‑Tax States (TX, FL, TN, etc.)

  • Most taxpayers don’t exceed the $10K SALT threshold. So the new cap change makes little or no impact here.


Mixed‑Effect States

  • Missouri, Iowa, etc.: Some middle-income households actually lose when other offsets kick in, such as tariff increases or Medicaid/SNAP cuts tied to the bill kiplinger.com.


Summary by State Tier

State GroupBenefit from Big SALT Cap?
High-tax (NY, NJ... ) Very big benefits – more households now itemize and deduct up to $40K.
Medium-tax (CO, AZ...) Moderate benefit – occasionally above $10K; some legal cleanup needed.
Low-tax (FL, TX...)➖ Minimal effect – most already deduct less than $10K.
Mixed/Red states⚠️ Mixed/negative effect – some offset by other factors like indirect tax hikes.


What to Watch

  1. MAGI phase‑out: Full SALT deduction available up to $500K; higher incomes see a gradual decreasetime.com+15wsj.com+15wsj.com+15kiplinger.com+8reddit.com+8eidebailly.com+8cnbc.comwsj.com+4cnbc.com+4cnbc.com+4.
  2. PTET changes: Many states are reevaluating SALT workarounds—especially for service-industry partnershipscnbc.com+5proskauer.com+5proskauertaxtalks.com+5.
  3. Federal vs. state conformity: "Decoupling" from federal rules could leave some state deductions unchanged or unclaimed .


Bottom Line (Outside CA)

  • High‑tax state residents = substantial federal benefit (up to $30K more deduction).
  • Medium‑tax state residents = some benefit, more limited.
  • Low‑tax state residents = little/no change.
  • Policy and tax guidance may lag—especially in states slower to conform to federal updates.
 
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Just wanted to share a conversation I had with my brother.

Hurricane Harvey 2017 displaced my brother, his house had 4 foot high of water, he sold the house and moved out of the area not far from Colony Ridge where the developer sells houses to Illegals, which apparently is not illegal to do.
They have friends, a couple that still live in that area who was complaining that it now takes them 45 minutes to get to the freeway since all of those houses got built. Well since the ICE raids this year, it now takes them 20 minutes (again), hahahaha.

Also, this I did not know/think of. The guy/developer who is sells the homes to Illegals is also financing them so when the Illegals get deported he just resells the house. Brother said there are houses that have been resold 2-3 times...

What a good/devious business model, just call ICE on your tenants and resell the house...
 
One Big Beautiful Bill (also called the “Big Beautiful Bill”) in California, taxpayers would be able to deduct up to $40,000 in state and local taxes (SALT), including property taxes, on federal returns for the 2025 tax year

Key Details of the SALT Provision​

  1. SALT deduction cap raised to $40,000
  2. Income phase-out threshold at $500,000
  3. Annual adjustment by 1% through 2029
  4. Sunset back to $10,000 cap in 2030
  5. Only for itemizers
    • You must itemize deductions (rather than take the standard deduction) to use this. The standard deduction is $30,000 for married couples, $15,000 for singles in 2025 smartasset.com+9cnbc.com+9wsj.com+9.

High‑Tax States (NY, NJ, CT, MA, MD, DC, IL, WA)



Medium‑Tax States (CO, VA, AZ, NM, UT)

  • Some taxpayers here occasionally reached the old SALT cap. Now more households can benefit—but the impact is smaller compared to high‑tax states san.com+6wsj.com+6nowbam.com+6.
  • Standard deduction conformity varies: states like Colorado, Arizona, South Carolina, etc., must update laws to fully align with the federal changes .


Low‑Tax States (TX, FL, TN, etc.)

  • Most taxpayers don’t exceed the $10K SALT threshold. So the new cap change makes little or no impact here.


Mixed‑Effect States

  • Missouri, Iowa, etc.: Some middle-income households actually lose when other offsets kick in, such as tariff increases or Medicaid/SNAP cuts tied to the bill kiplinger.com.


Summary by State Tier


State GroupBenefit from Big SALT Cap?
High-tax (NY, NJ... )Very big benefits – more households now itemize and deduct up to $40K.
Medium-tax (CO, AZ...)Moderate benefit – occasionally above $10K; some legal cleanup needed.
Low-tax (FL, TX...)➖ Minimal effect – most already deduct less than $10K.
Mixed/Red states⚠️ Mixed/negative effect – some offset by other factors like indirect tax hikes.


What to Watch

  1. MAGI phase‑out: Full SALT deduction available up to $500K; higher incomes see a gradual decreasetime.com+15wsj.com+15wsj.com+15kiplinger.com+8reddit.com+8eidebailly.com+8cnbc.comwsj.com+4cnbc.com+4cnbc.com+4.
  2. PTET changes: Many states are reevaluating SALT workarounds—especially for service-industry partnershipscnbc.com+5proskauer.com+5proskauertaxtalks.com+5.
  3. Federal vs. state conformity: "Decoupling" from federal rules could leave some state deductions unchanged or unclaimed .


Bottom Line (Outside CA)

  • High‑tax state residents = substantial federal benefit (up to $30K more deduction).
  • Medium‑tax state residents = some benefit, more limited.
  • Low‑tax state residents = little/no change.
  • Policy and tax guidance may lag—especially in states slower to conform to federal updates.

Why do tax payers in low tax states like FL need to subsidize homeowners in high tax poorly run states like NJ, NY, and CA?
 
It is a shame so many people have a bad taste in their mouths from the prior administration, that carries on today!