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+--- Thread: Hawaii Public Schools & Teacher Salaries (/showthread.php?tid=18997)
Hawaii Public Schools & Teacher Salaries - HereOnThePrimalEdge - 12-02-2017
If you think Hawaii public schools are bad now, wait until/if the Republican tax bill passes.
* Hawaii Public schools are paid for with state taxes
* State taxes are high, but are deductible from your federal taxes
* The Republican tax bill removes that deduction
* Without a federal deduction, your state taxes are effectively higher as there is no offset
* If taxpayers complain enough about paying higher taxes, and state taxes are reduced, the money available for public schools will be reduced
Under both the GOP Senate’s nearly 500-page bill (pdf) and the House version, the amount that US households pay in state income taxes and local taxes is no longer deductible on federal income tax forms.
Making state and local taxes no longer deductible from federal income taxes essentially subjects US households to “double taxation.”
The change is going to hit public school budgets hard, the GFOA says. Towns and states will be pressured by local citizens to reduce their taxes, which they can no longer deduct from their federal income taxes, the group predicts, and this is likely to slash school budgets.
https://qz.com/1145239/gop-tax-bill-2017-the-senate-republican-bill-punishes-american-families-for-using-public-schools/
Good luck kids, hopefully If you can graduate after the Hawaii DOE offers your teachers discount salaries. And 20% off! pensions.
Then if your grades are good enough in a substandard system, maybe you can attend a community college. If there's any money left over to keep them open.
"Enlightened statesmen will not always be at the helm." -James Madison, The Federalist Papers, 1787
RE: Hawaii Public Schools & Teacher Salaries - terracore - 12-02-2017
I haven't read the tax bill, but if what the lamestream media is reporting is accurate, the standard deduction should be almost doubling. We don't itemize our taxes (which is necessary to claim the deduction you are referring to) because the standard deduction is higher.
So in theory, my taxes should be going down. Wealthier people who use deductions will be hit by this change I'm sure.
If I remember right, Hawaii doesn't let us deduct our federal taxes, so we're already suffering under this scheme.
The problem with letting high tax states deduct their state taxes from their federal ones, is it unfairly punishes the low tax states who are more conservative with their taxes and don't have those taxes to deduct in the first place. It would be like taxing the Big Island to pay for rail on Oahu. Oh... wait...
RE: Hawaii Public Schools & Teacher Salaries - Chunkster - 12-02-2017
" . . . and state taxes are reduced . . ."
When has this ever happened? The politicians will just keep smiling while giving the state employees unions whatever they want in the way of pay raises and zero accountability. As much as I think the Republican tax bill is a crock of you-know-what, there is no scenario in which the parasitic state government will shrink short of a full on revolution.
RE: Hawaii Public Schools & Teacher Salaries - HereOnThePrimalEdge - 12-02-2017
there is no scenario in which the parasitic state government will shrink
So if the bill before Congess passes, you'll get one or the other:
Higher taxes (state taxes may stay the same, but you don't get a federal deduction)
Underfunded schools
"And would you like some increased CO2 emissions with your choice, sir?"
"Enlightened statesmen will not always be at the helm." -James Madison, The Federalist Papers, 1787
RE: Hawaii Public Schools & Teacher Salaries - EightFingers - 12-02-2017
How many people here actually itemize their deductions? I bet not very many. Doubling the standard deduction will benefit quite a few people here.
Hawaii does not allow you to deduct/credit Federal taxes.
RE: Hawaii Public Schools & Teacher Salaries - Rob Tucker - 12-02-2017
Pay no attention to that man behind the curtain.
RE: Hawaii Public Schools & Teacher Salaries - Durian Fiend - 12-02-2017
quote:
Originally posted by HereOnThePrimalEdge
https://qz.com/1145239/gop-tax-bill-2017-the-senate-republican-bill-punishes-american-families-for-using-public-schools/
No doubt a secondary benefit, from the perspective of those who crafted the bill.
For them, undermining public education is erotica.
RE: Hawaii Public Schools & Teacher Salaries - HereOnThePrimalEdge - 12-02-2017
Hawaii does not allow you to deduct/credit Federal taxes.
Only 6 states in the country allow you to deduct your federal taxes from state taxes.
The tax bill before Congress doesn't address those state laws, it only implements changes in federal taxes, which will no longer allow you to deduct state taxes from your federal return.
I fill out a schedule A on my federal return, so it's a deduction that's been helpful over the years. Since I have no kids in public schools, that deduction balanced slightly lower taxes paid to the Feds with the minimal amount of services I received from the state, to some extent.
RE: Hawaii Public Schools & Teacher Salaries - Mtviewdude - 12-02-2017
quote:
Originally posted by terracore
I haven't read the tax bill, but if what the lamestream media is reporting is accurate, the standard deduction should be almost doubling. We don't itemize our taxes (which is necessary to claim the deduction you are referring to) because the standard deduction is higher.
So in theory, my taxes should be going down. Wealthier people who use deductions will be hit by this change I'm sure.
If I remember right, Hawaii doesn't let us deduct our federal taxes, so we're already suffering under this scheme.
The problem with letting high tax states deduct their state taxes from their federal ones, is it unfairly punishes the low tax states who are more conservative with their taxes and don't have those taxes to deduct in the first place. It would be like taxing the Big Island to pay for rail on Oahu. Oh... wait...
I just don't understand people. It takes 5 minutes of reading to get the gist of what is going on.
http://www.businessinsider.com/whats-in-senate-trump-gop-tax-reform-bill-brackets-deductions-rates-2017-12
Standard deduction does double from 12,700 to 24,000 for married couples (families), but the personal exemption of 4,000 per person disappears.
So your taxes will go up if you are married and any children
Previous 12,700 + 3 X 4,050 = $24,850 deduction
Proposed = $24,000 deduction
The child tax credit will increase from 1,000 to 2,000 but its unclear if it is temporary (house version is)
The other big change will be how they will use the lower chained CPI to calculate the shift in tax brackets.
In the end (depending on the specifics that get passed) this will end up being the tax increase for nearly 1/2 the will end up increasing the taxes of 50% of the country in the lower and middle class.
So when your taxes do go, put the blame where it belongs. Who am i kidding
http://abcnews.go.com/Politics/senate-gop-tax-plan-hits-lower-incomes-hardest/story?id=51432325
The proposed Senate Republican tax bill would increase the nation's deficit by more than $1.4 trillion over the next decade and disproportionately hit lower-income taxpayers, according to a new Congressional Budget Office analysis.
People with incomes less than $30,000 would ostensibly pay more in taxes when compared to the benefits they receive under the bill, the CBO found, due in part to reduced government outlays to support health care for such low-income individuals.
Those earning less than $30,000 would be worse off under the plan by 2019, given the decrease in benefits versus their tax contributions, while those earning less than $40,000 would join the group of people who are worse off by 2021 and those earning less than $75,000 by 2027, the analysis estimates.
RE: Hawaii Public Schools & Teacher Salaries - EightFingers - 12-02-2017
Your link only shows rates for single filers.