Louisiana Legislature Considering Tax on Sick People

From the (New Orleans) Times Picayune:

Specifically, it wants to reduce a state tax deduction for people who itemize on their federal returns – a change that would typically raise income taxes for higher-income residents.

While that statement regarding “higher-income residents” may or may not be accurate, it is a gold-plated fact that sick people will be among those hardest hit.

Itemized deductions over and above the standard deductions generally are in two categories: mortgage interest and medical deductions.

People who have a large mortgage can use IRS Schedule A (long form) to reduced their tax bill. Older, sicker people with lots of hospital/doctor bills can do the same.

In Louisiana, the amount over and above the standard deduction is now deductible. A bill now pending in the legislature would kill that deduction.

The old and sick would have to pay more.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: