[Alberta's Child]

The subsidy is still there. It's just that it's now given to corporations instead of individuals.

1. My state income taxes and local property taxes are only deductible up to a $10,000 limit.

2. There is no limit to this deductibility for corporations.

Think about #2 for a second. So now you have people in states like New Jersey and Connecticut working with their accountants to figure out how to set up a corporation to own their home and live there as tenants. So they can deduct not only their full property taxes, but also every penny in utility expenses, maintenance, and even property depreciation.

[deadrock]

I have already declared that corporations should have their deductions scrapped.