Most Freepers don’t care if this is a bad bill, or if they have to pay more in the out years.
Just ask them.
The ONLY thing they care about is ending their “subsidy for blue states”.
Something that isn’t even happening.
I have challenged multiple parties to identify a single money flow from a taxpayer in ANY state to the state of CA (as an example), and none has done so.
Because there is not a single taxpayer in the US outside CA that is paying a single penny to the CA treasury.
There is no subsidy.
Fools.
“There is no subsidy.”
A deduction that has the same net result as a subsidy is therefore indistinguishable from a subsidy.
As I pointed out to you, the mortgage interest rate deduction subsidizes the real estate and banking industry and the basis of local property tax indices. Remove that deduction/subsidy and home prices, loan origination fees, service fees, mortgage balances, and property taxes will all decline.
Remove the SALT deduction/subsidy and either your state will lower taxes or else they’ll watch as people and industry flee to other states.
Will my family lose something because the SALT is gone? Sure we will.
But I suspect that you’ll lose even more.
I don’t mind at all when rich people keep more of their own money.
I just wish everyone was keeping more of their own money.
A deduction is not a “subsidy” - it simply allows a tax payer to keep more of their OWN money that they EARNED.
Unlike the EITC - a legitimate “subsidy”