[Discussion] The tax tax tax thread

The state of US tax code and upcoming proposed changes.

American churches are filled with people that have pledged their souls to someone whose main message was helping the poor. These churches get about 3X the income every year than it would take to practically eliminate homelessness and hunger in the US. They don't do it. I don't see this changing.

Yeah. This feels like a tax break for people who tithe on the backs of people who "only" donate to the ACLU, PBS, etc.

Perhaps I phrased it badly: the proposed 12 percent credit didn't happen. Instead, they cut the deduction for all but the wealthy few.

All the tax breaks for people who make less than $1 million? Slashed. The GOP claim is that the lower taxes will lead to people donating more. But for most people, the change in the way itemized deductions are calculated means that they'll be paying more taxes on the money that would previously been pre-tax donations.

So I was reading into just how much Idaho tax code would conform to the new federal tax code at work today. Idaho law historically has gone back and forth on this issue, primarily on whether to allow bonus depreciation on fixed assets.

Then I read this section full of thinly veiled homophobia and had to choke back a bit of bile.

Ugh. Gross. :l