82_VOL_83
Just wanna be a Brock-Star!
- Joined
- Feb 25, 2012
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New York State is facing a $2.3 billion budget deficit, and Gov. Andrew Cuomo believes it's largely due to the Trump administration's tax reforms which, on the "flip side," have taxed the rich and may be encouraging wealthy residents to leave.
SALT actually negatively impacted me also. I lost $6k in deductions due to SALT. I’m still net positive for effective tax rate by a few thousand though. Just filed my taxes yesterday.It’s almost like Cuomo is saying it’s not good that a small amount of rich folks are responsible for paying half of the taxes.
Are taxes the only variable that affects business spending?
But..was your tax refund smaller? Because obviously if it was it means Trump and the rich bazillionaires got the tax breaks and not you!So back on that tax cut thingie. Our compensation package for the year came out. My variable pay for last year was the largest dollar amount and percentage it’s ever been. By a big margin. The rumor mill has it tied to our tax break along with the engineer market in general. So if we’re doing it I’m sure everybody in the def contracting segment is doing it. These companies don’t go lone wolf on compensation.
So yes thank you very much Mr President. The tax breaks are working just fine.