[House Atreides]

“You don’t support the reduction of federal taxes who those who took an increase in the last round?

Perhaps you would like to eliminate all exemptions?

I know I would. Then you could pay at the same rate as me.”
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Two things.

First, you don’t have the slightest idea of the rate or the amount of federal taxes that I pay.

Second, if the 10K SALT cap is lifted, anyone using it should figure their taxes under the tax rates and brackets that existed BEFORE the Trump tax reforms.

And third, yeah I’ll go with the elimination of all exemptions as long as ALL itemized deductions are eliminated. And that would, of course, include elimination of both ALL SALT deductions and ALL mortgage interest deductions. Then we’ll all swim and compete in THAT pond.

[Mariner]

“First, you don’t have the slightest idea of the rate or the amount of federal taxes that I pay.”

I’ve got a pretty good idea that you didn’t end up paying more after the last round of cuts.

[Mariner]

“Second, if the 10K SALT cap is lifted, anyone using it should figure their taxes under the tax rates and brackets that existed BEFORE the Trump tax reforms.”

And pay less tax? I’m in.

But I give you respect for being a flat taxer.

Eliminate all deductions and exemptions for everything and everybody. While we’re at it, eliminate progressive rates.

[Alberta's Child]

Remember that the prior tax structure also had the alternative minimum tax (AMT) in place. So Pelosi wants to eliminate the SALT caps but also keep the AMT eliminated.

Funny how a viral outbreak that has turned these Democrat strongholds into Mad Max scenes suddenly makes Pelosi realize how destructive Democrat tax policies have been for decades.