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To: rb22982

.
You do realize that you are full of $hit, don’t you!
.


61 posted on 10/28/2017 4:22:20 PM PDT by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)
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To: editor-surveyor
You do realize that you are full of $hit, don’t you!

No, I can't simply do math.

First of all, only 3 in 10 households even itemize, period. That eliminates virtually all but the upper middle class and the upper class seeing any real benefit from SALT.

Then per the article above,

"The Joint Committee on Taxation calculates that for those earning more than $200,000, the SALT deduction cuts their federal tax bill by an average $6,295."

Given that the marginal rate on incomes over $200k starts at 28% and goes as high as 44% (with ACA surtax)

, a blended rate of 35% is not unreasonable to assume. So $6,295 tax savings / .35% rate = $18,000 in extra itemized deduction being stand TODAY. $6,350 * 2 = $12,700 increase in standard deduction covers more than 2/3 even for married couples over $200k (which is top 5% of households).

64 posted on 10/28/2017 4:27:38 PM PDT by rb22982
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