Taxes

Dems' Plan To 'Tax the Rich' Might Include a Huge Tax Break for the Rich

Repealing the cap on the SALT deduction would overwhelmingly benefit the wealthiest households in America.

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Before Democrats in Congress can pass a massive spending plan that comes with huge tax increases aimed largely at wealthier Americans, they might have to approve a huge tax break that would almost exclusively benefit the wealthiest Americans.

One of the major stumbling blocks for Democrats as they try to push President Joe Biden's $3.5 trillion reconciliation bill through Congress is the state and local tax (SALT) deduction, which was capped at $10,000 as part of the 2017 tax reforms. Lifting that cap, or repealing it entirely, has been a major priority for members of Congress who represent wealthy districts in high-tax states, and some Democrats are threatening to withhold their support for Biden's Build Back Better plan unless it addresses the so-called "SALT cap."

The rhetoric being used to justify repealing the SALT cap is some of the most disingenuous that you'll hear from lawmakers debating tax policy—and that's saying something.

"No SALT, no deal," Rep. Tom Suozzi (D–N.Y) said in a statement earlier this month. "I simply cannot stand by while the hardworking people across all of New York are hurting because of the SALT cap."

"These are folks that are struggling to get by," is how Rep. Josh Gottheimer (D–N.J.) described his constituents during an interview with CNN's Jake Tapper earlier this week. Families making $200,000 annually—more than three times the median household income in the United States, by the way—are apparently struggling to make ends meet, or at least that's what he told Tapper.

Even Rep. Alexandria Ocasio-Cortez (D–N.Y.), who recently made headlines for wearing a dress with "tax the rich" printed on it to the Met Gala—an event which, ironically, serves as a way for wealthy people to avoid taxeshas signaled a willingness to consider the SALT cap repeal. (In fairness, she's also correctly called a full repeal of the SALT cap "a gift to billionaires.")

While Democratic lawmakers are divided, there is little debate among left-leaning wonks about who actually benefits from the repeal of the SALT cap.

"There is no state where this is a primarily middle-class issue," the Institute for Taxation and Economic Policy, a left-of-center think tank, declared in February.

Richard V. Reeves and 

Meanwhile, the top 5 percent of households would reap 80 percent of the benefits, and the bottom 80 percent will get just 4 percent of the overall tax breaks, according to an analysis by the Center on Budget and Policy Priorities, a progressive think tank.

To put it another way, the tax break would amount to an average of $250 for American households earning between $50,000 and $75,000 annually, according to the Tax Policy Center, a left-of-center think tank. Households earning over $1 million will get a tax break of $47,000 on average.

To be sure, it's fine to advocate for letting wealthy Americans keep a larger share of their income. They are almost certainly going to make better decisions about how to spend that money than the federal government will. If that's what some Democrats believe would be in the best interests of the country, then they should say so—please!—and they should work to incorporate that same philosophy into their other tax policies.

But, of course, the SALT cap repeal isn't about principles. It's about making sure wealthy people in high-tax states—the types of people who just so happen to donate to lots of political causes, natch—get a big tax break. All the talk about the SALT cap repeal helping struggling middle-class families is just a ham-handed, obviously false attempt to marry this policy to the Democrats' broader policy goals.

In a letter to President Joe Biden earlier this year, seven Democratic governors urged a repeal of the SALT cap because "middle-class Americans are struggling under this federal tax burden."

That might very well be true, but it's worth noting that the seven governors who signed the letter oversee states—California, Connecticut, Hawaii, Illinois, New Jersey, New York, and Oregon—with above-average state tax burdens. If middle-class families in those places are struggling, those governors could probably do something more effective than writing letters to encourage the adoption of a policy that mostly doesn't benefit middle-class families.

And if members of Congress like Suozzi and Gottheimer think their constituents are struggling to get by, here's an idea: don't support a bill that raises taxes.

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  1. Slightly OT:

    Trump Called to Insist His Penis Didn’t Look Like a Toadstool, Press Sec Says

    On another occasion, after Stormy Daniels said in an interview that Trump’s penis looked like a “toadstool,” Grisham says Trump called her to assure her that his penis was, in fact, not shaped like a toadstool or small. “Uh, yes sir,” Grisham says she replied.

    Grisham also wrote that she was a target of Trump’s harassment and said he once asked her if her boyfriend—another Trump aide—was good in bed. The ex-boyfriend, current congressional candidate Max Miller, was also given the moniker “The Music Man” and told to play show tunes from musicals including “Cats” to try to calm Trump down, Grisham wrote.

    https://www.vice.com/en/article/g5ga7w/trump-called-to-defend-penis-shape-press-secretary

    wow, the White house Press Secretary telling it all.

    1. You and Trump actually have a lot in common apparently. You’re both very interested in what his dick looks like.

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    2. You know, Mr. Buttplug, I’ve been praising you lately for your life-saving intelligence briefings.

      But I don’t give you enough credit for your sophisticated toilet- and genitalia-based sense of humor. Whether you’re referencing lower torso anatomical features (“Buttplug,” “tiny mushroom dick”) or their associated fluids (“moneyshot,” “SLOPPY PULLOUT”), your jokes really add a lot to this comment section. Indeed, they help refute the stereotype that libertarians tend to be socially and emotionally stunted middle-aged men.

      1. @openboarders…. ^thread winner

    3. Trump’s getting his SALT deductions back. Happy now?

      1. The tax on the wealthy, the cap on SALT, was part of the TCJA which Trump passed to put a higher tax on the wealthy which the left claimed he lowered the tax for the wealthy but the left has been attempting to lower the tax on the wealthy instead with every Democrat in the Senate voting to repeal it in 2019 and every chance they get they try to add it to a bill. That means all the claims Trump lowered the tax for the wealthy was just propaganda and it is the left trying to lower the tax while pretending to raise it. The truth is always stranger then propaganda.

    4. THIS ARTICLE IS NOT ABOUT TRUMP.

      Your obsession with the guy has reached the point of pathos. Find a counselor, msn. There are many nicer things to think about than Trump.

      1. It literally is about Trump.

        1. No it isn’t you autist

        2. This explains so much about you.

    5. TDS so bad you’re focusing scumbag vice fake news now?

      You really must need attention leftie shitbag.

    6. So Stormy was saying he’s got a big head?

      1. I always found it a measure of Trump’s stupidity that he paid who knows how much to bang a chick that he later referred to as “horse face”. And we can rest assured that was no $200 BJ he got.

        And personally, I don’t find her attractive at all; she is not my type, but if I ever paid to have sex I wouldn’t be doing it with a woman I would later call horse face…that really says more about how effing stupid he is than anything else.

        At least he ruined Hillary’s aspirations, I’ll always have to give him that.

        1. Yeah, the SCOTUS nominations, the tax cut, Betsy De Vos, none of that means anything to TDS-addles shits.

    7. turd lies; it’s what turd does. turd is a pathological liar entirely too stupid to understand that his fantasies are not aligned with reality.
      turd is only vaguely conscious of the truth.
      turd lies. It’s all turd does.

    8. So many things wrong here…

      The SALT cap was a Trump Era device designed to punish Blue States in the first place. So it makes perfect sense that Dems oppose it.

      I never thought I would see the say when Reason was shilling for higher, inequitable taxes.

      1. It doesnt PUNISH anybody, it restores basic fairness. It keeps rich and upper middle class people in CA and the Northeast from dodging their Gederal tax obligations and paying lower taxes than rich and upper middle class people in TX, FL, and TN.

        Just because you live in a failing 1 party state that cant pay its pensions and taxes and spends profligately with the assent of its voters, that gives you no right to be sibsidized by wiser residents of awesome states

        1. ^this

    9. Cool story bro. Now tell us about how you rape children

  2. Dems making 200K in San Francisco and Boston and NYC consider themselves middle class though. And those cities are so expensive they’re not far from the truth.

    But it’s cool to see the blatant hypocrisy.

    1. Didn’t Barack Obama say that single people making $200,000 a year qualified as “rich people” Who should have their income taxes raised? Now they are middle class? Talk about inflation…

      1. Yeah, and Biden is trying to jack up taxes on those making over 400K, then kicking off inflation so bad anyone with a job will be making over 400K.

      2. Sanders used to rant about mullionaires and bullionaires. Now he only bangs on about bullionaires. I wonder what’s changed?

        1. He realized that he’s a millionaire?

          1. He owns a mansion and a yacht!

    2. Dems making 200k in SF are aspiring to break into the local “middle class”, unless they’ve owned their current homes for 20+ years.

      It was amazing when the SALT limit was put into place though. All the far-left papers in NorCal starting publishing pieces about the hardships that such a limit would impose on all the people in Marin/Napa who had grown accustomed to their $40-50k state tax deduction on their 1040A, never once acknowledging that anyone in that category was by definition comfortably within the category of “the 1%” who those same papers had spent years crusading should be compelled to finally pay their “fair share” come tax time.

      Even in CA, nobody making under $400k/year is paying that much state tax (unless they happen to have an 8-figure real estate portfolio and enough savings to cover the upkeep on such holdings)

  3. Dems’ Plan To ‘Tax the Rich’ Might Include a Huge Tax Break for the Rich

    So it’s all good?

    Odd headline. I thought this was a libertarian site!

    1. It’s called irony.

    2. Eric Boehm ain’t too bright on this one. A break of $250 for someone making $50000 is the SAME percentage savings (250/50000 = 0.005) as someone paying $47000 while making $100000 (47000/1000000 = 0.047)…….

      1. oops… I guess the “rich” are actually paying more : 4.7% vs 0.5%

  4. I dislike the SALT cap, and disagree with the notion that getting rid of it is a “Tax Break”. The cap is taxing me for money that I did not actually take home. For the $10,000 I take home (above the cap), I don’t even see $1,200 of it because the state of California had it withheld. And then I need to save another $450 from what is left over to pay taxes on the $1,000 I never received.

    That said, I get that I am fortunate with how much I earn, and I love watching Pelosi twist and turn on that broomstick up her ass as she tries to justify this, while claiming the Rich don’t pay their fair share.

    And if they do pass it, it will personally make this shitty bill a bit easier for me to stomach, anyway.

    1. It’s a convoluted mess, but somehow lost in all of it was that the counter to the salt cap was a much higher standard deductible. Which made more deductions and much easier taxes for those who do not itemize — i.e. lower earners, renters, etc.

      For the wealth tax advocates, this is exactly what a wealth tax looks like. It mostly hits people with high value property, like a house on which they’re carrying a jumbo mortgage, or sole proprietors doing well, or high earners while making things easier for the lower rungs.

      So, of COURSE the Ds want to get rid of it. Because… reasons. You know.

      There’s no fucking way repealing the salt cap is anything but hypocracy amongst the Warren/Sanders/AOC sect.

    2. The SALT cap is a tax break because it insulates you from the consequences of the disastrous tax policy of the state you live in. Rather than whining for a handout, why don’t you do what the rest of us do and keep your local parasites in check.

      That said, the right answer is to eliminate the SALT deduction entirely. The cap is an overly-complicated way to return a smidgen of accountability. Outright elimination would be simpler.

      1. I didn’t whine about it. And it is not a “handout” to keep money you earned. Since the beginning of the Income Tax, it has been generally assumed that you don’t tax money that a person never received. That’s why you aren’t taxed on income that was withheld for FICA (Medicare/Social Security). It is why you aren’t taxed for costs required for working (such as a home office). It is why corporations don’t pay taxes on their cost of goods sold. It has been a general convention that if you didn’t take home that money, you don’t have to pay taxes on it.

        And yes, I agree, that as a consequence of this basic fact, parasites have had cover for their leaching. Which is why I said I dislike it, but appreciate how uncomfortable it is making the usual suspects.

        1. But that isn’t what is going on here. The feds are just limiting a tax deduction. They do that a lot. They do it with depreciation/depletion, with how much you can deduct for leasing cars, how much loss you can deduct, etc. The rich start abusing a loophole, and Congress then closes it.

          In this case, really rich people in high tax states and cities were effectively not paying their fair share of income taxes, because their federal taxable income was reduced by the entire amount that they paid in state and local taxes. And, no, this isn’t a tax on wealth, but on income. If someone is asset rich, but income poor, they wouldn’t have benefitted from the SALT tax deduction in the first place. It mostly affected high earners, because it effectively reduced the marginal rates they paid, because the last dollar of income, taxed at the highest rate, was what is reduced by the SALT deduction.

    3. That’s what you get when you have high taxes.

      CA voting for high taxes they don’t actually pay is bullshit.

    4. Sorry, but it very much is a tax cut. I do not see why it should be my responsibility to cover the excessive taxation your state charges.

      If I have zero say in it, I should have zero dollars used to cover it.

      1. Note that in states without income tax, the state budgets often come from sources that consumers still pay but that can not be deducted from the federal income tax.

    5. You don’t “take home” money you pay on other essentials, on government fees, on sales tax, etc.

      Double/triple/quadruple taxation is a fact. Why exempt it in some cases and not others?

    6. In other words you have no idea what the cap on SALT is. The cap on SALT only allows you to deduct upto 10,000 of the state tax you pay. I don’t know how much you are making but if you are paying over 10,000 in state taxes either California has incredibly high taxes or you are making enough you really shouldn’t miss the loss.

  5. “Dems’ Plan To ‘Tax the Rich’ Might Include a Huge Tax Break for the Rich”

    Anyone familiar with OpenBordersLiberal-tarian’s First Law shouldn’t be surprised by this.

    Democrats use leftist economic rhetoric to trick low-info poor voters into thinking they’re still fundamentally the same working-class party of decades past. Once in power, however, modern Democrats know they exist to serve movie stars, rock stars, Wall Street, Silicon Valley, and billionaires.

    #VoteDemocratToHelpThe1%

    1. Notice that each time they’re caught ignoring their own Covid mandates, it’s not the proletariat they’re partying with.

  6. OBL’s 1st rule.

  7. “Don’t listen to what they say, watch what they do.”

    One of my grandma’s favorite sayings.

    1. Did you notice the 50,000.00 a year subsidy for journalist in the Build Back Better bill? That should open some eyes. It was called a conspiracy theory when people claimed the left owned the MSM but I guess if they are now raising their pay at tax payers expense it is more of a fact then theory.

  8. I have no problem with tax cuts for the rich. I amn not a socialist, and I don’t begrudge anyone keeping their own money. I want to keep my money, too. So, I’m glad to hear the rich are getting a tax break.

    So, there is one thing to like about this bill. Why don’t you tell us all the things libertarians capitalists should hate about this bill–rather than complain about the things we should like? This isn’t even close to being the worst thing about the bill.

    Did you know that this bill is the biggest socialist bill in 50 years? They’re not only expanding the socialist programs we already have but also creating new ones! Are you aware of this?

    Why in the world would complaining about the bill being insufficiently rigorous in its ability to redistribute the wealth of the rich rank as a concern from a libertarian capitalist perspective? Is this still a libertarian capitalist website?

    If you want to complain that this Congress is insufficiently socialist because it doesn’t soak the rich, go be a socialist! Wear the badge properly. That’s what being a socialist (to the left of this Democratic congress, the most radically socialist Congress in 50 years) is all about.

    1. “Why don’t you tell us all the things libertarians capitalists should hate about this bill…”

      There are three Reason blog posts about the reconciliation bill this week, plus a lot of discussion of the bill on this week’s Roundtable podcast.

      1. It would be easier to tell what they should like. I like the 50,000.00 yearly subsidy for journalist in it. That puts the left owning the MSM more in the light instead of lying about it. Federalizing elections and repealing all state election laws which should be un-Constitutional to gain politically is really bad as well as the abortion law repealing all state laws, allowing government funding of abortion up to birth. It is hard to read 2500 pages and the constant changes but so far there is nothing to like.

    2. Mostly because the $3.5T pork bill is a moving target. This is one of those things that wasn’t in the bill, but we expected it to be, since so many Dem office holders were heavily subsidized by people who ended up paying higher taxes due to the SALT limit. It wasn’t officially in the legislation until the last week or so. But then, the $3.5T was essentially a place holder until the bill could be fleshed out with the actual provisions, as usual, at the last minute, before it could be voted in.

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  10. In practice, this is somewhere in between a tax break for the rich and a tax break for progressive states. The SALT deduction amounts to a subsidy for progressive states in that it provides relief to high earners in those states when they impose high state and local taxes. Some of the consequences of the cap are undoubtedly borne by the high earners. But, to the extent that the cap removes the cushion for the disincentives those states’ policies create, the incentives push high earners to abandon those states.

    As a blue state refugee, I’m strongly in favor of keeping the cap in place. There’s no reason federal tax policy should have to compensate for the fact that states like NY, CA, IL, CT or NJ want high state and local taxes. And any compensation ultimately is borne at the national level and socialized to states with more rational budgets.

    1. If this is a subsidy then allowing companies to deduct their cost of good sold is a “Subsidy”.

      I am not terribly animated by the SALT cap- I dislike it, but I won’t fight for its removal.

      That said, whenever fiscal conservatives start making leftist perversions of words, it is a Very Bad Thing ™. Calling tax deductions a handout or a subsidy is always a bad idea, because it normalizes that redefinition for future attacks on policy.

    2. The appropriate way to attack big budget states is to tax THEM for their revenues.

        1. Yeah, fairly sure the feds cannot do that.

          Best they can do it tax YOU and make YOU force your state to change.

          Or leave.

  11. Hey, how about that photo up top? AOC and her “tax the rich” dress, in red (communist?) letters?

    “Tax the rich” is HATE SPEECH against the rich!!! It sure isn’t “love speech”, now, is it?

  12. I’m ok if anyone gets a tax break. No new taxes, cutting all federal spending in half (at least) and then lower taxes for all.

    1. I think we’re all agreed on that, the point here is that Democrats constantly complain about “tax cuts for the rich” (which, coincidentally, seem to have been any tax cut ever instituted) then turn around and bald-facedly tell us that removing the SALT cap is a middle-class tax cut when the numbers plainly make any such statement a lie.

      In other words, the irony it burns.

  13. shocked Pikachu face

  14. Any reduction in a non-regressive tax benefits the rich. That’s not rocket surgery.

    1. So if you want the rich to pay more taxes don’t reduce their taxes.

      Also not rocket surgery.

  15. The fact of the matter is that Washington’s tax laws are controlled by Lobbyist, who are controlled by people with money. Worse, the law makers themselves either owe and don’t pay and or create ways to avoid paying taxes. It’s the fox guarding the Henhouse.
    Our founders noted that without honest ethical leadership, our government would not last and no one really wants to address that and rather instead attack those who push for ethics in society.

  16. When democrats say “tax the rich” what they really mean is “tax the upper-middle class” because most of them are rich, and ALL their major donors are also rich.

    I know, it’s a shock – democrats lie just like republicans.

    Fuck ’em all.

    1. Yeah, the simplistic “both sides” whine of TDS-addled shits.

    2. Except that the SALT deduction limitation really did mostly hurt very high earners with high taxable income.

    3. Need to primary out the RINO trash. Or just purge the government of all leftists.

  17. It’s “Tax the Rich” in public, but “I’ve got your back” in private. Also, people that aren’t paying tax (or worse negative tax with refundable credits) shouldn’t complain about people that pay taxes.

    1. The Tax Policy Center:

      “It’s no surprise that refundable income tax credits fully cover payroll taxes for some households—one of the rationales for the EITC when it was created in 1975 was to offset payroll taxes. Since then, the size of the EITC has increased much faster than payroll taxes and Congress has created two new refundable credits—the CTC and the American Opportunity tax credit. Combined with lower income tax rates and higher standard deductions, the larger credits have made many households non-payers of income plus payroll taxes. Refundable credits make it possible for some low-income households with workers to avoid paying income and payroll taxes.

      Of course, those payroll taxes that they’re increasingly not paying are supposed to be their “contribution” into Social Security. The fact that so many people are being excused from paying INTO Social Security without any negative impact on their ability to take money OUT of Social Security later simply highlights fact that SS is a largely a welfare program (I know there are no SS accounts to pay into or take out of, but the notion that there is is pervasive).

  18. Democrats scolded Trump for cutting taxes on the rich. Now Republicans are scolding Biden for canceling the very previous tax reform, saying it will reduce the taxes on the rich. Isn’t it a paradox?
    In my opinion, SALT is already a part of the ecosystem that allows the middle class to buy houses and deduct most of their expenses from taxes. It is very difficult without SALT with the current property rates.

  19. Politicians: “Don’t worry. We’ll use the coercive power you gave us to steal from others, not you.”
    Me: “I give you no power, I don’t vote, and if I did, I would deserve to suffer for forfeiting my sovereignty.”
    Voters: “I want better leaders (rulers). I keep getting betrayed. No one keeps their promises.”
    Me: “Then stop voting, i.e., supporting the idea that you are too politically immature to run you life. Or, shut up and accept slavery.”

    1. Less people voting doesn’t mean no one gets elected. You’re really not helping.

  20. But for those who are comfortably well-off, but not getting free tickets to the Met Gala, the taxes will go up for real.

  21. Canadians deal with similar doublespeak-BS from our own two mainstream federal political parties.

    The (neo)Liberal party are not truly liberal. They, like the Conservatives, pander to corporate objectives and the rich, albeit the former maintain their traditional liberal social policies, notably those involving race, gender and sexuality.

    The Conservative party, meanwhile, are not truly conservative but rather a money-first party with little or no stances on the major social issues for which they once stood. Thus they’re closer to being libertarian than conservative, seeming to stand for little other than big business, finance and maybe a balanced budget.
    (And the neo-liberals and conservatives remain preoccupied with vocally criticizing one another for their relatively trivial politics and diverting attention away from some of the planet’s greatest polluters, where it should and needs to be sharply focused.)

    Apparently, politically potent big business interests get catered-to regardless of which of these two parties rules. This, of course, is made possible by our First Past The Post electoral-system dinosaur, which barely qualifies as democratic rule within the democracy spectrum (though it seems to well-serve corporate interests).

    1. Catering to large businesses isn’t libertarian. Your understanding of the word is probably skewed.

  22. “Even Rep. Alexandria Ocasio-Cortez (D–N.Y.)… has signaled a willingness to consider the SALT cap repeal.”

    This is really my favorite part of the whole article. Between this and her “present” vote on the Iron Dome, she’s officially a sell out now. Rumor is, she’s angling for Schumer’s job and her rabid commie schtick doesn’t play well with rich, liberal Jews.

    It only took her a couple of years to trade her principles for power. I love it.

    1. Who do they think is funding her candidacies? She supports it, because the people who want the SALT deduction limitation gone are precise the same people who are funding her campaigns.

    2. I’m still waiting for some smartphone videos of her giving blowjobs to surface. They’re definitely out there.

  23. “To be sure, it’s fine to advocate for letting wealthy Americans keep a larger share of their income.”

    Strong words. I might mistake this for a libertarian magazine or something.

    Dems are bad for wanting to raise taxes and bad for lowering them because of the hypocrisy.

    The only way you can please me is by disappointing me, said someone’s terrifying mother.

    1. When dems are honest, libertarians hate them. When dems are hypocrites, libertarians hate them. You just can’t win with libertarians. Don’t even try.

      1. The problem is that democrats are parasitic slaver pieces of shit.

    2. We take no pleasure in Democratic machinations.

      “In any compromise between food and poison, it is only death that can win. In any compromise between good and evil, it is only evil that can profit.” – Ayn Rand.

      1. A compromise between food and poison is called a martini.

        1. You should go straight to drain cleaner.

    3. Dems are bad for wanting to raise taxes and bad for lowering them because of the hypocrisy massive spending and for using taxes to punish political adversaries.

      There, FTFY. Maybe that helps resolve your evident confusion.

    1. I like to think of it as an accounting mechanism.

      There’s too many dollars in this account for proper social order; better put a tax on it.

      1. And who better to determine proper social order than the most successful politicians in the United States.

        1. Who better indeed. Some tinpot assclown perhaps?

          Free people get to decide for themselves how their society is ordered.

  24. SALT should be $0
    Mortgage interest deduction should be $0
    Tuition & Fees: $0
    All the other distortions: $0

    axe them all then raise the standard deduction even more and/or lower the rates.

  25. Dems plan to *steal* from the productive but might end up subsidizing the useless???? Well, what’s new?

  26. The libertarian in me wins out on this one. People keeping more of their money is what we should all want.

    But fuck these hypocrites with a rusty chainsaw for having the audacity to demand that “the rich pay their fair share” while complaining about SALT caps.

  27. Picking one part of a tax code rewrite is stupidity – not reason. SALT was targeted because it was a way to hit CA and NY. Other cuts more than offset this part for the rich, so the net effect was great for the truly wealthy and bad for people who were “college grads in coastal states, in expensive homes with mortgages”. Who did they vote for?

    Anyhow, the tax changes can include restoration of SALT and still raise revenue, still find the wealthiest paying higher taxes. To say that the SALT restoration is a discreet thing is disingenuous and pandering.

    Roll back the direct gift to rich real estate developers before you talk about other stuff being a reward for the wealthy. Accelerated depreciation on USED property acquired with taxpayer backed loans? Look at Kushners deal that made it into the COVID relief heist.

    1. The SALT limit was a way to hit very high earners in high tax states.

    2. An analysis by NBC News of Small Business Administration (SBA) data released Tuesday night found that millions of dollars were given to businesses located at Trump Organization and Kushner Companies properties that pay rent to the two companies. These were PPP loans for businesses renting property from Kushner and Trump. I am sure indirectly they benefited from it when the companies didn’t go belly up but “Kushner’s deal that made into Covid relief heist” doesn’t sound like a very accurate discription.
      On another subject, I have some stickers and signs you may be interested in. They say, “Don’t blame me, I didn’t vote for Biden.” They are being used by Biden voters to cover up Biden stickers and signs they used during the election. They are going fast so don’t wait long.

  28. I don’t think there should be any kind of deduction for state and local taxes. It just makes the levying of taxes into a silly shell game.

    1. It is a direct subsidy by the low tax states to high tax states. Allowing people to deduct high state taxes from federal taxes is just another way for Democrats to pass the cost onto low tax states. Then they proudly proclaim “look how much tax we pay” while people don’t realize they are getting a lot of it back. If you pay 10,000.00 in state taxes and can deduct it from federal taxes you pay less taxes then someone making the same wage that pays no states taxes because they have nothing to deduct. Democrats want to make it even more lopsided.

  29. In my experience, if you assume that any measure -rooted by the Progressive establishment will actually do pretty much the opposite of what the establishment claims it will, you won’t be wrong often enough to matter.

  30. Downloading any Telugu Movie is a Very Easy Task just click on Telugu mp4 Movies Download

  31. Gandhi Jayanti is an event held in India to celebrate the anniversary of Mahatma Gandhi.

  32. Democrats are math deniers.

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