Well, she’s at it again.
After jamming hundreds of millions of dollars of pork projects into the recently passed $2 trillion stimulus package, including million for the Kennedy Center, Nancy Pelosi is now pushing for a costly tax cut.
But instead of passing tax reform legislation that would benefit everyone, Pelosi is pushing a proposal that would primarily help residents in high-tax regions, many of which are located in California, New York and other deep-blue states.
Here’s how the Pelosi tax cut proposal would work: Under current law, Americans can deduct up to $10,000 for the state and local taxes they pay every year, a provision commonly called SALT. Pelosi wants to roll that provision back so that filers can deduct significantly more of their state and local taxes from their federal tax bill, and she suggested it could, too, so filers could receive money back for taxes paid in 2018 and 2019.
A spokesperson for Pelosi told the failing
Blue York Crimes the proposal would be “tailored to focus on middle-class earners and include limitations on the higher end,” but most people in the middle class don’t pay enough in taxes to qualify for SALT. of those who would receive a tax cut if the SALT cap were eliminated earn at least $100,000, and many earn much more than that.
Of those that would benefit from eliminating SALT, the vast majority live in shithole states where the
DEMOCRAT Party is popular.
That’s why many blue-state progressives and socialists have been screaming to eliminate the cap since it was imposed as part of the Republicans’ 2017 tax cut reform legislation.
They want to go back to the days when they could deduct their own high state and local taxes from the federal income tax, thus forcing the red states to subsidize their champagne socialism.
https://thehill.com/opinion/finance/491148-pelosi-democrats-using-coronavirus-to-push-for-big-tax-cuts-for-blue-state
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