13.3%
That’s the new STATE income tax rate in California after the
last election. That’s in addition to the federal rate, which Obama wants to
raise to 39%. Do the math. But, since you don’t live in California, you figure
it’s not your problem, right?
Think again!
State income taxes are deductible from your income for
federal income tax purposes. So, when California raises its income tax rate,
people deduct the higher amount from their income for the federal income tax,
which means they pay less in federal income tax. Guess who makes up the
difference?
You do!
If you live in a state with a lower income tax than
California…in other words, if you live anywhere other than California…then
*YOU* are subsidizing California’s spending through the federal tax code!
Pretty slick, eh?
On this one, however, you can do more than just be outraged.
Contact your Congressman and Senators NOW! Tell them that in the new “grand
plan” for the federal budget, they should insist that the federal deduction for
state income taxes must be phased out, and then entirely eliminated.
Either that, or you can keep sending your money to California.
You have the opportunity to take action on this one that might make a
difference. The question is…will you?
No comments:
Post a Comment