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re: Expiration of “Trump” tax cuts
Posted on 5/7/24 at 4:40 pm to Teddy Ruxpin
Posted on 5/7/24 at 4:40 pm to Teddy Ruxpin
quote:
This is why Democrats would probably not support it. SALT deductions are big in high tax states, so for their voter interests it's their calculation that letting taxes go up by letting those sunset, BUT also getting the SALT back is a net win for them.
Republicans should be pushing for SALT to be 100% non deductible and call the deduction what it is, a massive tax break for the 1%.
1
Posted on 5/7/24 at 8:12 pm to BlackAdam
quote:
Republicans should be pushing for SALT to be 100% non deductible and call the deduction what it is, a massive tax break for the 1%.
Yep. It’s a cap that mainly affects the rich and it’s a subsidy for states that have higher taxes.
Of course a lot of states have already started the workaround on this limitation
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