Any limitation on SALT (State And Local Tax) deductions is wrong in principle and should be opposed no matter who benefits from its removal. If we want to increase tax progressivity, and we should want to, we should do so directly and explicitly.https://www.nytimes.com/2020/09/07/opinion/salt-tax-deduction-cut.html …
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I thought the problems with SALT were that it penalized high cost states and states that used taxes for such public services like education and Medicaid.
.@iragersh Yes, a cap on SALT has that effect. However, excluding the SALT deduction is bad in principle since it means that you're taxed on income that isn't yours. Imagine if Federal and State tax rates were both 50%. Combined, they would sum to 100%. That isn't equitable.
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Thanks. I have to roll that one around.
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