SALT Deduction will benefit rich in high tax states

[Born2vette]

Tax Deduction That Benefits the Rich Divides Democrats Before Vote (Published 2021)

House Democrats are poised to lift a cap on the state and local tax deduction, a gift to wealthy homeowners in some blue states.

www.nytimes.com

https://www.washingtonpost.com/business/2021/11/16/second-biggest-program-democrats-budget-gives-billions-rich/

Pelosi defends SALT deduction in Dems' spending bill, insists it won't benefit the rich

House Speaker Nancy Pelosi on Thursday defended the inclusion of changes to the state and local tax deduction in President Biden's signature spending plan, even though economists across the political spectrum agree the policy would serve as a windfall to wealthy Americans.

www.foxbusiness.com

Second largest expense in spending bill will benefit rich demo donors.

 

[BugI02]

I read that it will benefit the top 10% almost exclusively and in the majority of cases more than offset any tax increases elsewhere. They want to go from a limit of $10000 to no limit on deductibility at all. The dems are feeling the pain of the people in Basking Ridge and Chevy Chase

 

[BigRed]

Taxation of income is nothing but slavery.

All these mother ******* ******** can go to ****.

 

[actaeon277]

Well duh.

 

[KellyinAvon]

Strategic Arms Limitation Treaty? Oh the other one.

 

[Born2vette]

I read that it will benefit the top 10% almost exclusively and in the majority of cases more than offset any tax increases elsewhere. They want to go from a limit of $10000 to no limit on deductibility at all. The dems are feeling the pain of the people in Basking Ridge and Chevy Chase

But they ‘just want everyone to pay their fair share’

 

[5.56'aholic]

But they ‘just want everyone to pay their fair share’

Our fair share of their state taxes they voted for you mean? Because thats what this is, making the rest of the US pay for the entitlements they voted for in their states. No taxation without representation comes to mind.....

 

[BugI02]

Strategic Arms Limitation Treaty? Oh the other one.

 

[xwing]

The Dems write a bill to specifically benefit their donors? What a shock! Next thing you know, we'll find out that they all make money by pushing eco-Nazi "green" new laws. Oh wait, they do?!

 

[Born2vette]

The Dems write a bill to specifically benefit their donors? What a shock! Next thing you know, we'll find out that they all make money by pushing eco-Nazi "green" new laws. Oh wait, they do?!

You are not suppose to know, don’t read it until it’s passed.