ST Alpha - "Orange bar is complete repeal. Red bar is disallowing everything over $72,500 in taxes. -- (edited)" (Reading a Post)

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In response to "I'm confused by the orange bar vs the red bar here, what's the difference between the two?" by ty97

Orange bar is complete repeal. Red bar is disallowing everything over $72,500 in taxes. -- (edited)

Posted by spamlet Nov 4 '21, 04:53

Which is, I’m guessing, what someone making $400k would pay to NYS and NYC in income taxes because it’s all about you :p

Responses:

ahhhhh, got it (thanks) -- nm - ty97 Nov 4, 04:55 11
- once again, we need COL adjustments in things....... (that's not gonna happen though) -- nm - ty97 Nov 4, 04:57
- My IM isn’t right that’s too high (I thought the personal and corporate rates were closer) - spamlet Nov 4, 04:57 9
  - I was wondering about your IM, it seemed low. - ty97 Nov 4, 04:58 8
    - I’m sure it does as the deduction includes property taxes. - spamlet Nov 4, 05:03 7
      - I just can't remember if we currently have a single 10k cap on the combination of both? Or a 10k cap on each? -- nm - ty97 Nov 4, 05:05 6
        
        Combined cap. -- nm - spamlet Nov 4, 05:22 5
        
        Well that's pretty awful -- nm - ty97 Nov 4, 05:27 4
        
        Depends on how you look at it. They’re going to raise the money one way or another. - spamlet Nov 4, 05:40 3
        
        "They’re going to raise the money one way or another." isn't true. - ty97 Nov 4, 05:43 2
        
        I meant the Feds in that statement. And I honestly think the deduction should be zero which would take care of the IM. -- nm - spamlet Nov 4, 05:45 1
        
        Again I disagree. - ty97 Nov 4, 06:31

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