[Tolerance Sucks Rocks]

They should’ve done half-SALT rather than a $10,000 cap. A typical wealthy city dweller would still be able to itemize then, although they couldn’t count the whole thing. They could still be able to deduct $30K to $40K easy.

1/2 * (income + sales + property), baby!

$10,000 cap is torture for good, productive conservatives trapped in these blue gulags.

[SkyPilot]

Congressman Darrell Issa proposed an indexed SALT deduction based on income.

His proposal was shot down by Ryan and McCarthy.

Issa's district gets murdered by the tax law, and I believe that Issa is retiring in part because of his frustration in dealing with Ryan on this issue.

The Republican leadership can continue to whistle through the graveyard and pretend that everything is hunky dory vis a vis the tax law, but sooner or later they will get a big slap in the face of reality.

Even Mark Levin said this is NOT what they ran on (raising that taxes of millions in the middle class).

[SkyPilot]

$10,000 cap is torture for good, productive conservatives trapped in these blue gulags

The cap is useless to most, because they won't have enough deductions to itemize. Nonpartisan tax foundations and even Steven Mnuchin have estimated that 95% of families won't be able to itemize any longer. Couple with the loss of the personal exemption, and many families are royally screwed.

But hey, we can take comfort in the fact that companies that hate conservatives (Facebook, Google, and Apple) just got a huge tax cut at the expense of some individuals whose taxing are going up to "pay for it."

[Rome2000]

One mitigating factor is that the tax increases will not be applicable to the tax returns prepared April through October of this year for FY 2017.

The mieskeits from Goldman Sachs are crafty, they figured they could slip one over on the goyim this year and not get burned too bad in the midterms.

We’ll see how this plays out, but retaining control of the House is CRITICAL.