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Keyword: salttaxbreak

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  • This Is Rich: Democrats Fight To Protect A $1.8 Trillion Tax Break That Benefits The Top 1%

    10/24/2017 8:43:48 AM PDT · by george76 · 59 replies
    Tax Reform: What do you call a tax break that delivers 88% of the benefits to upper-income families and subsidizes rich states at the expense of poor ones? If you're a Democrat, you call it a sacred cow. One provision of the Republican's tax-cutting plan that has drawn intense opposition from Democrats is the elimination of state and local tax deductions for those who itemize. ... Fewer than 22% of tax filers even claim the state and local tax deduction, and the vast majority of these are higher-income families. While 78% of those with incomes above $200,000 claim the deduction,...