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Why do DEMS want to repeal the SALT tax? John Kerry doesn’t need a tax break
Posted on 3/30/21 at 1:36 pm
Posted on 3/30/21 at 1:36 pm
Or maybe they are just for of poop 
4
Posted on 3/30/21 at 1:37 pm to jb4
YOU SALTY
Posted on 3/30/21 at 1:38 pm to jb4
Because high tax democratic states would benefit from it's repeal the most (eg New York).
Posted on 3/30/21 at 1:38 pm to jb4
More tax for thee,
Less for me.
Less for me.
Posted on 3/30/21 at 1:42 pm to BigJim
Bingo.
NY, NJ, CT, and other high tax states are pissed that the elimination of this deduction exposes exactly how much they are costing the people living or working there.
Having SALT lets those states get the tax revenue while the taxpayer offsets it against their federal tax bill.
NY, NJ, CT, and other high tax states are pissed that the elimination of this deduction exposes exactly how much they are costing the people living or working there.
Having SALT lets those states get the tax revenue while the taxpayer offsets it against their federal tax bill.
Posted on 3/30/21 at 2:03 pm to jb4
The elimination of the SALT deductions was the biggest structural change in the tax code in a generation. It actually penalized states with high state and local taxes and began to raise awareness of what a crap deal most taxpayers are/were getting from their local institutions. The left would love nothing more than to sweep that back under the carpet.
Posted on 3/30/21 at 2:17 pm to coolpapaboze
quote:
penalized states with high state and local taxes
Be careful here. This is the language that the Democrats use to spread propaganda that the Republicans used the SALT cap to “punish” the blue states. Rather, it reduced an intergovernmental subsidy that disproportionately (and senselessly) benefitted blue states.
quote:
The left would love nothing more than to sweep that back under the carpet.
Truth. If the Democrats really care about easing the burden of state and local taxation, why not convert the SALT deduction into a refundable tax credit that helps poor people??? That proposal would put Democrats in a real bind.
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