Conscious Uncoupling To Save Us All (With Video!)

Why You Might Want To Read This: ***911 ALERT***! It’s time for states to decouple from federal tax law to save billions of dollars that will be sucked away from states because of the insane tax bill passed this year. Even more fun: we’ve got video about this, and a bit about a wealth tax proposal, with the nation’s organizational leader on taxes, Amy Hanauer, executive director of the Institute on Taxation and Economic Policy. And what you can do about it.

I know what you thought but…I’m not a relationship counselor. Somewhere, in the back of my grey matter, I had stored the phrase “conscious uncoupling”. I knew it was from some dumb popular culture fad but I could not remember from where. So, I did look it up—and, boy, am I sorry I lost that time in life.

So, here’s the story: Out of pure convenience, states typically adopt automatically federal tax law provisions. Basically, it goes like this, as my friends from the Institute on Taxation and Economic Policy explain: states calculat…