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If you're poor in a blue state, the local tax cap isn't going to affect you. It's just another form of progressive taxation. It may be that more rich people li
by rgbrenner 8y ago
If you're poor in a blue state, the local tax cap isn't going to affect you. It's just another form of progressive taxation.
It may be that more rich people live in blue states, but that doesn't necessarily mean it's a political punishment for blue states... at least not anymore so than the income tax brackets are a punishment.
Here are some states that are particularly hit by this change: Iowa (5th highest state income taxes), Minnesota (4th), Wisconsin (10th). Illinois has the 4th highest total local taxes. Are those the blue states you're referring to?
I think it could have been structured in a better/different way.. but there's no need to turn this into some kind of political witchhunt. The US tax system has been a system of progressive taxation for a very long time.
- akhilcacharya 8y agoThis is silly, it’s been well established even by voters that this is punitive. https://www.nytimes.com/interactive/2017/12/05/us/politics/tax-bill-salt.html https://www.nytimes.com/interactive/2017/12/05/us/politics/t... Unsurprisingly, democrats flipped all but 1 seat in NJ by aggressively messaging the tax bill. The voters see it for what it is.
- rgbrenner 8y agoThe 3rd chart on that page clearly shows this is a progressive tax increase, nearly entirely falling on those households making over $200k per year. Again, it may be that more rich people live in blue states, but that does not make it punitive. You could get the same graphic shown at the top for ANY tax increase. This article amounts to a general argument against any form of progressive taxation.
- akhilcacharya 8y agoIs that why they decided to end a deduction instead of just doing an across the board percentage hike (or even both)? Again, even if you don't think so the people affected have gotten the message.
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