Re:I.R.S. Warns States Not to Circumvent State and Local Tax...
by joejerryronnie on Wednesday May 23, 2018 @11:28PM
(#17140862)
The SALT cap clearly impacts lower-middle class and middle class home owning residents of California and New York (in addition to higher income earners). This had zero to do with tax reform and was 100% punishment for states that did not vote for Trump.
88% of the SALT deductions were going to households earning over $100,000. 1% were going to households earning $50,000 or less. The tilt is obvious: this was a tax benefit for better off persons, a way for higher income earners to avoid paying the full high tax rates in states like New York and California.
This is an extremely ugly hypocrisy as it pertains to what their platform is supposedly all about. I've yet to see very many prominent people on the left, either politicians or media, call it out. It also defangs the left's ability to pursue Republicans for their favoritism toward high income brackets regarding taxes: they're plainly arguing & working to preserve a tax cut for higher income earners.