3 ms·
Because high earners are rich people but not rich enough to be capitalists. So they get screwed and somehow capital gains isn’t blamed or tax loopholes but poor
by skinnymuch 4y ago
Because high earners are rich people but not rich enough to be capitalists. So they get screwed and somehow capital gains isn’t blamed or tax loopholes but poor people.
Edit: my context was about taxes in general not specific enough to SALT
- dragonwriter 4y ago> Because high earners are rich people but not rich enough to be capitalists “High earners” includes capitalists; one of the reasons the SALT cap hits hard in California is that California not only has the highest high-end income tax rate, it (unlike many states and the federal government) taxes capital gains as normal income, not at a reduced rate. Both parts of this policy are things that the SALT cap is designed to put pressure against. The SALT cap, not the state and local taxes it targets, is pro-capitalist and anti-worker.
- skinnymuch 4y agoAh thank you. You corrected my misconceptions in a few lines. Welp I hate it now! Thanks for solidifying my view.