“1) SALT has not yet gone into effect.
2) The people in blue states will not see a tax raise on their federal income tax. Instead they will see their whopping state and local taxes.
3) What will hopefully turn into an angry argument about state and local taxes will soon turn to benefits for illegal aliens.”
1. Most professionals in these affluent suburban districts are smart enough to figure out the cost to them, personally, when their deductions are reduced.
2. People in these Districts will most certainly see an increase in their net tax obligation to the Federal government. In fact, man, like myself, know how much it will be. ($3,800 annual for me if my income and deductions remain constant). Others will see an increase over $10k. Of course, their “the rich” and everyone knows Republicans LOVE to punish “the rich”.
3. These people already are angry over state and local taxes. But they live in districts where they have very little influence over that part of their overall tax obligation. It seems they decided to punish those they COULD reach.
Republicans can continue to deny the reality if they wish. But it will not serve their political aspirations to do so.
Pinging Larry to my #65 on this thread.