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The Taxpayer Party (formerly the Tomorrow Party) is founded on the principle that the United States of America was founded upon: "No taxation without Representation." Anyone of any age required to pay any tax in our country is eligible to vote.
According to the IRS's Taxpayer Bill of Rights, "each and every taxpayer has the right to pay no more than the correct amount of tax." Taxpayers have to pay ONLY the amount of tax legally due and to have the IRS apply all tax payments properly.
The new tax code recently passed by Congress is the broadest overhaul of the tax code in one and a half generations. According to Governor Jerry Brown, the new tax plan will devastate our state and put a stranglehold on our citizens. The new tax code will reach into every corner of California's economy and affect every taxpayer in our state. The Governor calls it "evil in the extreme" and a targeted assault on California.
Every economist at the non-partisan Joint Committee on Taxation, the Treasury Department's Office of Tax Analysis and the Council of Economic Advisors all agree: In a mature economy such as the United States, tax cuts have negligible effect on economic growth. Tax changes are always primarily about redistribution.
Given that fact, members of Congress' first and most important item to consider is whose welfare is most worth improving--Californians or their own constituents? And the majority have decided to declare economic welfare on California.
So what do we do? The good news is once passed the tax code is law and it typically takes 1 1/2 generations for any revisions. And any tax bill has legal loop-holes--especially this one.
Trump purportedly wanted to simplify the tax code. The good news for us Californians is it actually--according to Forbes Magazine--makes it much more complex. And intricacies of the charitable contribution deduction create the optimal opportunity for gamesmanship.
The best new tax strategy for Californians: live large and make large charitable contributions. The tax math works. Californians who make large charitable donations will get more benefit.
You have three choices: file, fight, or flight. We recommend file. The Taxpayer Party will supply you--free of charge--online tools showing you step-by-step how to file for your charitable contributions--making it a simple and easy and tax code compliant process. We will supply you with Excel formulas that will allow you to make exact comparisons--all free of charge.
Because state and local taxes (deductions) fund schools, hospitals, libraries, fire, police, etc. that all Californians depend on for our quality of life, this shortfall can be made up for by using your charitable windfall to make up the difference, keep for yourself, or whatever else you choose.