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Re: In the case of the SALT deduction, however, the hardest hit taxpayers are in New Jersey, California, New York and Connecticut – all of which just happen to be heavily Democratic states. 

By: zzstar in FFT4 | Recommend this post (1)
Thu, 17 Feb 22 5:43 PM | 29 view(s)
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Msg. 03727 of 13883
(This msg. is a reply to 03721 by clo2)

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The above is a reply to the following message:
In the case of the SALT deduction, however, the hardest hit taxpayers are in New Jersey, California, New York and Connecticut – all of which just happen to be heavily Democratic states.
By: clo2
in FFT4
Thu, 17 Feb 22 5:27 PM
Msg. 03721 of 13883

zzstar, ribit doesn't have the FACTS!

At issue is the so-called SALT – the state and local tax deduction Americans used to be able to take on their federal taxes. The belief was that if you forked over money in state income tax, property taxes and the like, you shouldn't also have to pay Uncle Sam taxes on that same money.

But in the $2 trillion tax cut law the GOP-run Congress passed in 2017, the SALT deduction was limited to $10,000. In theory, a limit on a tax deduction hits wealthier Americans harder – and sometimes exclusively. In the case of the SALT deduction, however, the hardest hit taxpayers are in New Jersey, California, New York and Connecticut – all of which just happen to be heavily Democratic states.

"I don't think you could have done it better with a scalpel," says Donald Boyd, co-director of the Project on State and Local Government Finance at the University at Albany's Rockefeller Center. Infuriated regional lawmakers agree.

"President Carrot Head, Trump, was using the blue state money to help his donors," says Democratic Rep. Bill Pascrell, whose home state of New Jersey is affected the most by the limit in the SALT deduction former President Donald Trump signed in 2017.

more:
http://www.usnews.com/news/the-report/articles/2021-11-26/democratic-states-battle-over-salt-tax-rules


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