My statement still stands. If you are a pilot for a union airline, single, make 157k-200k, live in a state with state income tax, and own a home, your taxes went up.

Anyone who fits that category is not taking the standard deduction. They are itemizing. So I apologize that the math is a little more complicated, but I'll show it below with some basic assumptions. Basically if you lost 12k or more worth of write-off's, you are paying more taxes under GOP tax reform.

Remember that the majority of pilots are based in higher than average cost of living areas (SEA, SFO, LAX, DEN, ORD, BOS, JFK, EWR, IAD, MIA). I'm going to make an average assumption of a 5% state income tax rate and a 400k home with a 1.25% property tax rate. This is very low for some people in those areas!


Lets use 200k since it makes the math easy.

-Union expense write off assuming 1.9%, that's $3,800. That write-off is gone.

-Per Diem (varies widely, but lets assume $2,000 difference between United per diem and actual). That write-off is gone.

-State income tax (assuming average is 5%, but could be more), that's $10,000.

-Property tax (assuming 400k home and 1.25%, but could be way more), that's $5,000. Those write-offs are now capped at 10k, so that's $5,000 write-off gone.

-Mortgage Interest (assuming 400k home, 20% down, 4.5% interest rate), that's $14,400

-Use an accountant for taxes?
-Have moving expenses?
-Pay for car registration?
-Other out of pocket expenses for work?
-Other itemized expenses?

All those write-off's are gone too. Add in a few thousand dollars for that.

For the record, I made 200k and my taxes will go up about $1,500 in 2018. I lost about 10k of SALT deduction and another 7k of misc deductions (union dues, per diem, car registration, accountant fees, etc...).

Meh, my house is paid off..my property and state taxes total less than the new standard deduction of $24,000. Further, my top tax rate goes down in 2018 from 33% to 24%. My federal taxes are going down, not up.

Everyones situation is different. I have done my rough calculations and mine will go up slightly.

It doesn't matter what the truth/facts are for some people ... They are going to repeat what they are told like cheerleaders. If later they do In fact write out a check larger than otherwise you will never know because they will still be out in their little skirts with their Pom poms with the same old cheer.

Same here. I’m done subsidizing single people from high tax states and with big mortgages. I paid off my house, there is no reason I should pay increased taxes so someone else can have a big mortgage.

... billionaires can cut theirs and we can run up the deficit. My tax guy says best case I'm basically a wash next year (married, one income, captains pay, relatively low tax state). I don't want to take this any further into the political realm, so I'll try to put it into economic terms. I don't mind paying more in taxes than the median family takes home in income. It's a nice problem to have and I figuratively (and obviously literally) owe a lot to this country. However, when my taxes and share of our debt go up to finance the wealthiest Americans' tax cuts, I take issue with it.

Bingo!

I would offer an award but the reality is that we are ALL going to lose.

I hope you enjoyed your mortgage interest tax break for all the years you had a mortgage. Maybe you’d volunteer to pay that back??

You probably don’t care about the extra $1.5 Trillion in debt this will add too. Seems like your attitude is “I got mine, screw the next generation.”

Also, it is a fact that higher income states (CA, NY, NJ, IL, MD, etc...) subsidize the lower income tax states. Just look at the deficit from taxes collected to government spending in those states.

If you make $200,000 a year you made more than 97.3% of the population in 2017 per the Department of Labor income calculator. Not only that, but you probably had more money put in your 401k last year, than most people have in savings (less than 25% of the population have more than $10,000 in a savings account). Nobody feels sorry for you, even though you invoke the word “Billionaire” because 97.3% of the people would trade incomes with you, even if it meant paying more taxes. The people that made less than $157k, (95%) their taxes went down. So you are now paying your “fair share”. I can imagine you telling them they you want the old tax plan, where they pay more and you pay less. They’d laugh in your face. You’d say “but those Billionaires”. I know, you worked hard to get your job, yada, yada, well the billionaires did too.

When the average person says “the wealthy” they are talking about you, not Warren Buffet. You have a life they can only imagine.

I do believe the next generation is skrewed.
With the tariff crap and other bravado programs I can see us ALL hit with a serious round of inflation ... Hope it's not like the 70s.

And of course, all in time for my retirement. :(

What a bunch of horse sheet. Are you forgetting it was 'Slick Willy' who watched the AAL flight attendants go out on strike in '93 just before Thanksgiving? He didn't stop that. And what about the Northwest pilot's strike? They shut down their airline for 15 days in '98. Slick didn't stop that either. And the Northwest pilot strike was 18 months AFTER the AAL pilot strike. So much for the big four 'losing the ability to strike.' Lol. Maybe ol' slick did exactly what APA leadership wanted him to do. In any case, the APA pilots became the highest paid pilots in the industry a few months after that stopped strike. Heck, we all got PAID during Slick's Santa Claus for labor administration. Record breaking contracts as I recall. Kinda like during Obama's administration.