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Author Topic: Screwing Trump: New York May Scrap Its Income Tax for a Payroll Tax.  (Read 2540 times)

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Offline Free Vulcan

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Screwing Trump: New York May Scrap Its Income Tax for a Payroll Tax.
« on: January 05, 2018, 06:13:14 pm »
The state of New York may end its income tax and instead expand its payroll tax as a way to outmaneuver the new federal law that limits deductions for state and local taxes, according to WGRZ.

New York Gov. Andrew Cuomo said Wednesday during his State of the State address that he is exploring how to make the switch. California and New Jersey leaders have also discussed similar steps and other alternatives.

Under the proposed Cuomo scheme, state income taxes would end and be replaced with a payroll tax which would have employers essentially collect the same amount of revenue in payroll taxes from employees, which would be tax deductible for the firms in full versus President Trump's cap put on tax deductibility of state income taxes on individual federal tax forms.

Read more at: http://www.economicpolicyjournal.com/2018/01/screwing-trump-ny-may-scrap-its-income.html
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Offline Frank Cannon

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Re: Screwing Trump: New York May Scrap Its Income Tax for a Payroll Tax.
« Reply #1 on: January 05, 2018, 06:23:21 pm »
LOL. This game isn't going to keep the heavy flow of people running away from their states because of burdensome taxes.
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Offline Free Vulcan

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Re: Screwing Trump: New York May Scrap Its Income Tax for a Payroll Tax.
« Reply #2 on: January 05, 2018, 06:24:21 pm »
Quote from: Frank Cannon on January 05, 2018, 06:23:21 pm
LOL. This game isn't going to keep the heavy flow of people running away from their states because of burdensome taxes.

Exactly my thought. 'No Mr. Cuomo, don't throw me in that briar patch.'
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Offline Sanguine

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Re: Screwing Trump: New York May Scrap Its Income Tax for a Payroll Tax.
« Reply #3 on: January 05, 2018, 06:30:16 pm »
It's not going to screw Trump, it's going to screw the taxpayers in New York.
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Offline WingNot

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Re: Screwing Trump: New York May Scrap Its Income Tax for a Payroll Tax.
« Reply #4 on: January 05, 2018, 06:31:09 pm »
Liberals always find new ways to call a tax a non tax.
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Offline jmyrlefuller

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Re: Screwing Trump: New York May Scrap Its Income Tax for a Payroll Tax.
« Reply #5 on: January 05, 2018, 06:34:46 pm »
Wow.

Of course, most of the wealthiest don't get their income from salaries; they get it from investment income. It's the working class and middle class who pay payroll taxes.
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Offline Sanguine

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Re: Screwing Trump: New York May Scrap Its Income Tax for a Payroll Tax.
« Reply #6 on: January 05, 2018, 06:38:28 pm »
Quote from: jmyrlefuller on January 05, 2018, 06:34:46 pm
Wow.

Of course, most of the wealthiest don't get their income from salaries; they get it from investment income. It's the working class and middle class who pay payroll taxes.

Yes, isn't it a beautiful thing?  It protects the elites and additionally taxes the middle class.  Real clear as to where the priorities in NY are.
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Offline Jazzhead

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Re: Screwing Trump: New York May Scrap Its Income Tax for a Payroll Tax.
« Reply #7 on: January 05, 2018, 06:47:15 pm »
Quote from: Sanguine on January 05, 2018, 06:30:16 pm
It's not going to screw Trump, it's going to screw the taxpayers in New York.

Bingo.  And it may cost more than a few jobs as well since employers faced with a tax on their New York payrolls can simply move those jobs elsewhere.   
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Offline WingNot

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Re: Screwing Trump: New York May Scrap Its Income Tax for a Payroll Tax.
« Reply #8 on: January 05, 2018, 06:49:09 pm »
The governors of the Bordering states should Send Cuomo a Thank You Card.
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Offline Cyber Liberty

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Re: Screwing Trump: New York May Scrap Its Income Tax for a Payroll Tax.
« Reply #9 on: January 05, 2018, 08:33:33 pm »
Quote from: jmyrlefuller on January 05, 2018, 06:34:46 pm
Wow.

Of course, most of the wealthiest don't get their income from salaries; they get it from investment income. It's the working class and middle class who pay payroll taxes.

Fortunately for Cuomo and the rest of the NY Dem Legislators the non-elite people who vote for them are not quite bright enough to figure that out, and drag the rest of the state down with them.
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Offline aligncare

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Re: Screwing Trump: New York May Scrap Its Income Tax for a Payroll Tax.
« Reply #10 on: January 05, 2018, 09:20:07 pm »
Quote from: Cyber Liberty on January 05, 2018, 08:33:33 pm
Fortunately for Cuomo and the rest of the NY Dem Legislators the non-elite people who vote for them are not quite bright enough to figure that out, and drag the rest of the state down with them.

Gov. Cuomo wants to be president, as does mayor De Blasio. They both despise each other though.

And both played games with NYC budget items, trying to outmaneuver the other, using city services as poker chips in their schemes to acquire higher office.

While the road to the presidency is littered with the failed campaigns of NYC mayors, of the two, the communist De Blasio is the smoothest. He talks a good game and I fear him the most. Cuomo on the other hand maybe the worst public speaker in the history of public speaking.

Both have had their scandals and been under investigations in which both have skated by.

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Offline Restored

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Re: Screwing Trump: New York May Scrap Its Income Tax for a Payroll Tax.
« Reply #11 on: January 05, 2018, 09:35:29 pm »
Stop. Isn't a payroll tax essentially an income tax?
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Offline WingNot

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Re: Screwing Trump: New York May Scrap Its Income Tax for a Payroll Tax.
« Reply #12 on: January 05, 2018, 09:54:47 pm »
Quote from: aligncare on January 05, 2018, 09:20:07 pm
Gov. Cuomo wants to be president, as does mayor De Blasio. They both despise each other though.

And both played games with NYC budget items, trying to outmaneuver the other, using city services as poker chips in their schemes to acquire higher office.


I would Like to see two fine NY Libs fighting it out for your also Ratrun to the White House in 2020.  Good times for sure. 
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Offline Cyber Liberty

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Re: Screwing Trump: New York May Scrap Its Income Tax for a Payroll Tax.
« Reply #13 on: January 05, 2018, 09:58:48 pm »
Quote from: Wingnut on January 05, 2018, 09:54:47 pm
I would Like to see two fine NY Libs fighting it out for your also Ratrun to the White House in 2020.  Good times for sure.

Every bit as good as in the General election in '16, when we had two New Yorkers running against each other.   9999hair out0000
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Offline Right_in_Virginia

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Re: Screwing Trump: New York May Scrap Its Income Tax for a Payroll Tax.
« Reply #14 on: January 05, 2018, 10:06:52 pm »
Quote
state income taxes would end and be replaced with a payroll tax which would have employers essentially collect the same amount of revenue in payroll taxes from employees, which would be tax deductible for the firms in full

How does this help the individual?
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Offline WingNot

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Re: Screwing Trump: New York May Scrap Its Income Tax for a Payroll Tax.
« Reply #15 on: January 05, 2018, 10:10:43 pm »
Quote from: Right_in_Virginia on January 05, 2018, 10:06:52 pm
How does this help the individual?

The 1st rule of Blue State Liberal politics is If it screws up Trump  or his Tax Bill no one cares what happens to the little guy.  Collateral damage is blood sport. Besides the rubes will still vote for a Lib in NY/NJ.
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Offline Cyber Liberty

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Re: Screwing Trump: New York May Scrap Its Income Tax for a Payroll Tax.
« Reply #16 on: January 05, 2018, 10:58:51 pm »
Quote from: Right_in_Virginia on January 05, 2018, 10:06:52 pm
How does this help the individual?

I read that passage a bunch of times, and the best I can see is it doesn't.  It helps the companies.  I don't see that it reduces the taxable income, which would be the only point in it as far as the individual filers are concerned.
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Re: Screwing Trump: New York May Scrap Its Income Tax for a Payroll Tax.
« Reply #17 on: January 06, 2018, 01:07:22 pm »
Quote from: Right_in_Virginia on January 05, 2018, 10:06:52 pm
How does this help the individual?

I think the unstated premise to this idiocy is that, somehow, all individuals in NY who earn wages will take a pay cut equal to the additional amount of payroll tax NY would be charging the employers. 

This ain’t gonna happen, of course, so the plan is a nonstarter.
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