Tiffany Bond  🦞 🇺🇸Verified account

So the only thing I would take from Gould is that alimony is treated how tax code says it is, because that's what tax code does...not that alimony should be treated this way, because it's retro and whatnot. TAX CODE IS NOT HIPSTER. I digress. #mepolitics #TaxReform

Once we move past the idiocy that is "we do it this way because we can pretend we read a decision we didn't read (#lexisfail, should have Shepardized) from 100 years ago so we sound like we are paying attention and banking on no one else reading this"... #mepolitics #TaxReform

Why aren't former spouses like children? So many reasons... 1. Children are dependents. They are a tax deduction. You cannot count a former spouse as a dependent, but when you were married, you *could*. #mepolitics #TaxReform

2. Former spouses usually can work, and in many cases modern alimony is designed to be transitional "income". These funds are generally to recognize their partnership contribution, they should share the tax burden since the $ are spent in their household. #mepolitics #TaxReform

3. It begs the question of are we taxing where money is taken in? Or are we taxing where it is consumed as discretionary profits? Taxing it when it comes in treats businesses better than people because businesses get to deduct things they have to spend. #mepolitics #TaxReform

4. Many states, like Maine, have no statutory framework for alimony - it's judicial discretion. You may hear things like "it is usually 40-50% of the collective income to the less monied party after attributing child support and tax effect." #mepolitics #TaxReform

4 in english - not every state alimonies with clear rules or well, and statutes may or may not consider tax. #mepolitics #TaxReform

5. Um...there isn't a nice way to say this, so Judges/Magistrates, turn away. The bench doesn't always math well. They don't always have access to software to help them and we are all human. Unlike federal law that shouldn't be rushed, family often is. #mepolitics #TaxReform

So why would anyone do this? It's a sneaky way to eek a few more $ out of families that can "afford" it. In Maine, you could start having to pay alimony at less than $30k/year. Sounds rich, huh? #mepolitics #TaxReform

The better question is...if we are living in a world where businesses are people, then why do we have a congress that treats non-human people better with taxation than humans? If businesses have to be people, we should apply the same "fair" code to all. #mepolitics #TaxReform

If a business sells or separates, requiring ongoing payments - those can be written off and not taxed. But not humans apparently. Huh. #mepolitics #TaxReform

Before I switch topics...we should decide BEFORE we rewrite our tax code if businesses are people or not and act accordingly. We should also decide who, what, when, why, and how we tax BEFORE we rewrite our tax code. #mepolitics #TaxReform

This really limits mobility for people. What do you do if there are no jobs in your town? Or the biggest employer shuts down and you have to choose move or lose your job? #mepolitics #TaxReform

Sidenote - pro-tip: If you are reading this beast and want to save paper, print out starting on page 524. #mepolitics #TaxReform

HELOC (Home Equity Line of Credit) deduction is gone. I've covered this before, but to recap, HELOCS are widely used by the middle class to facilitate a lot of life events. #mepolitics #TaxReform

Common HELOC uses... 1. At purchase between 2 loans to save PMI 2. Emergency repairs 3. College tuition 4. Job loss 5. Buy out after a break up 6. Start businesses 7. Medical bills These are frequently used for hardships or entrepreneurial risk. #mepolitics #TaxReform

Can't take taxes past 10...more later.