The Senate Finance Committee won’t be revisiting the #SALT deduction reforms made in the Tax Cuts and Jobs Act under Chairman @ChuckGrassley’s leadership. #TaxReform
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It’s ironic that the same Democrats who criticized the Tax Cuts and Jobs Act for supposedly benefiting only the wealthy are now advocating for a change to the law that would primarily benefit the wealthy.
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The SALT deduction is a federal subsidy for states to raise taxes on their residents without political consequence. The answer to the problem is for states to lower their taxes instead of insisting that taxpayers from lower-tax states subsidize their profligate spending.
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No, lower tax states don't subsidize higher tax states. The higher tax states still provide the Fed more than they get back. The people in those higher tax states just don't have corn or soybean subsidies to lean on when things don't go well.
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And don't worry, once Don's supporters start to complain, he'll start to complain and suddenly you'll be reviewing SALT again.
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You are 100% correct - the liberal caterwauling and hypocrisy is stunning. They are bleating about the rich not paying their “fair share” and yet want to roll back deductibility and effectively lower taxes on the rich! Apparently they like taxing the rich, just not their rich!pic.twitter.com/xpewwlxz4m
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A cap on the SALT deduction is double taxation. Double taxation is socialism
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Oh look, as soon as TCJA passed, home sales began to revert a huge trend and began to sank. ITS ALMOST LIKE YOURE SABOTAGING THE HOUSING MARKET.pic.twitter.com/DuOh7kh1SN
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No surprise there’s more hypocrisy here. Throw as much money as you can at millionaires and big corporations but whine when states want to provide more than subsistence level benefits to their residents. Aren’t you supposed to be for states rights?
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