The House Ways and Means Committee voted nearly along party lines to repeal a part of the 2017 Republican tax cut. But it wasn’t the corporate-rate cut Democrats were targeting. It wasn’t some imagined tax cut for corporate jets. Rather, Democrats passed a bill to scrap the cap on very-high-income individuals’ ability to deduct their state and local taxes on their federal tax returns....Free up a little cash-flow so the Big Money can send more to Democrat campaigns.
...Democrats call their bill the Restoring Tax Fairness for States and Localities Act, but it should be titled, “Expanding Tax Breaks for Wealthy White Suburban Democratic Voters Act.” Expanding the deduction won’t help most taxpayers in New York, California, or New Jersey. It will help only those whose incomes or property values are very high....
Sunday, December 15, 2019
Democrats: "Cut Taxes on the Rich"
This was as predictable as sunrises.