I read Forbes and so should you. The State And Local Tax (SALT) deduction DIRECTLY contributes to Democrat political power.
“More than the numbers is the SALT’s effect on the size of government. When a New Jersey or a California is getting ready to raise taxes, they know that their citizens will get back 30 or 40 percent of the tax hike on their federal income tax returns thanks to this deduction. The SALT makes it easier for blue states to stay blue and get even bluer.”
The globalists at Forbes are a bunch of Free Traitors and ride the Cheap Labor Express.
FORBES is an anti-TRUMP rag and run by GOPEers; kid.
The worst part of the SALT subsidy going to these parasite states is giving it to the businesses there.
Many businesses would expand or move to low tax states, spreading jobs.
It’s just an awful policy.
Did Forbes tell you the deductions are taken by taxpayers in every state? Did they tell you they are taken in every Congressional district in America?
Perhaps they even neglected to tell you that over 40 million Americans take those deductions.
Maybe even Forbes neglected to inform you that the blue states that most use it are also the states with the highest per capita incomes and that their Federal taxes subsidize the other states.
Of course they didn’t. The Forbes editors are only interested in the corporate tax cuts. Like the Republicans they think the sop they throw to those under $75k/yr...and the welfare class...will be enough for them to dodge the accusation that this is a tax cut “for the rich”.
After all, 80% of the cuts go to Corporations and only 20% to individuals.
The rest of us are picking up the tab to make it “revenue neutral”.