Posted on 01/17/2021 6:47:42 AM PST by knighthawk
Democrats are again considering legislation to provide their wealthy blue state donors with billions by ending the cap on a tax deduction.
As President-elect Joe Biden has released his $1.9 trillion Chinese coronavirus relief package that offers $1,400 stimulus checks to working and middle class Americans, rather than the $2,000 checks that President Trump had requested, Democrats are resurrecting their goal of providing tax breaks to the wealthiest of Americans, mostly concentrated in coastal blue states.
The plan once again being considered by Democrats on the House Ways and Means Committee would end the cap on the SALT tax deduction that was strictly limited by Trump in 2017. Ending the cap over the next two years would give millionaires and billionaires a massive windfall while costing about $136 billion.
(Excerpt) Read more at breitbart.com ...
Here I thought that the Democrats were always accusing Republicans of giving
“tax cuts to the rich”.
I will never criticize tax reductions.
Blue states will increase taxes even more if SALT deductions come back.
People like AOC are going to be mighty disappointed with something like this. And that is when the fun is going to begin. Yes, I know the negative trolls will come and try to spin something like this differently.
I guess Bela Pelosi can’t wait to demand her private jumbo jet again.
Look at the population figures for New York. The place was hemorrhaging population long before COVID-19. New York City alone lost something like 200,000 people just in 2018 or 2019 alone.
“I will never criticize tax reductions.”
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Then let’s allow an individual’s SALT payments to be MULTIPLIED BY THREE and THEN TAKEN AS A FEDERAL ITEMIZED DEDUCTION. Surely you won’t criticize that tax reduction.
MULTIPLIED BY THREE and THEN HAVE THE RESULT TAKEN AS A FEDERAL ITEMIZED DEDUCTION
Nah, she won’t care, she is just an actress playing the role she was hired to do.
Of course they are going to do this, but it won’t stop the hemorrhage of populace from blue to red. It’s more than money. The Dems caught lightening in a bottle this cycle. Just like they did in 2018 with bite harvesting in California. We got those seats back in 2020. We play the game like them and get votes by mail in we at least get house back in 2022.
Won’t matter unless we take control of the leadership. That starts with Cheney. That was a dumb unprincipled vote by her. Has to lose. A third party is attractive but won’t work. To each their own but I think that’s a mistake.
Lol. It don’t matter the administration. The rich gets the tax cuts and gets richer. They all say they are going to do something. I think biden said he was gonna make them pay there fair share and that’s how he is gonna make things happen in this economy.
LOL! Make no mistake, the left will indeed steal real money from the red States to hand over to the failing corrupt blue States. No doubt about that.
This is not a reduction. It is a transfer from high tax states to all states.
Why multiplied by 3?
Had to cut the amount to citizens while they ponder adding illegals to the line.
It’s not a tax reduction. It’s a tax write off.
L
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