Democrats Want to Restore Tax Break for the Wealthy

Dec 2018
816
23
Tempe, AZ
#1
:mad::mad::mad: They are scalawags!!!

A key provision of the 2017 Tax Cuts and Jobs Act was a new cap on the so-called State and Local Tax (“SALT”) Deduction, which allows taxpayers to deduct state and local taxes on their federal tax return.

For years, blue-state Democrats have been able to raise state income and property taxes far higher than voters might normally tolerate. That’s because the SALT deduction softened the impact for taxpayers in those states, particularly for the rich campaign-donor class. Since the SALT deduction only applies to taxpayers who itemize their returns, its benefits naturally accrue to those in the highest income bracket.

The Dems want to roll back the new tax system so they restore/increase the subsidy of the RICH!!! :mad:

Democrats Want to Restore Tax Break for the Wealthy | RealClearPolitics
 

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