Tax breaks expiring

[dickthegrouch]

I didn't know that the deduction for State and Local taxes was expiring at the end of this year

http://www.bankrate.com/finance/taxes/tax-breaks-dead-until-congress-revives-them.aspx?ec_id=cmct_03_comm_PF_image_headline

When I first came to this country in 1982 there were things like income averaging, medical deductions and others.

Damned warmongers want to waste it all!

Halve the pentagon budget, kill the NSA, and feed the poor for godsakes.

Make some real jobs repairing infrastructure (again), and encouraging non-violent industrial complexes to flourish.

[oldandhappy]

1. the t folk will blame it on Obama!!

This is the first year of the end of the Bush tax laws. Congress did nothing so they will something to blame on the president.

[Cali_Democrat]

2. Congress only likes to keep tax breaks that benefit the wealthy

Remember the payroll holiday tax that mostly benefited average Americans? Republicans didn't make a peep when those expired.

But try to take away tax breaks for the wealthy and they will go ballistic.

[kelly1mm]

3. State and local SALES taxes deduction is expiring, not State/local income tax deduction,

you can only take one, and even then you have to itemize on schedule A. The VAST number of filers do not take this deduction as usually income taxes is much higher so only those few states without state income taxes is this a real issue.

[Major Nikon]

4. 20% of the population live in states with no state income tax