NY Democrats Demand State and Local Tax Breaks for Billionaires be Reinstated! (You KNEW this was coming...)
(www.bloomberg.com)
🛑 Corrupt Commies 🛑
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It’s not for billionaires it’s for people who itemize their deductions to write off state and local taxes. So if you make 80k and own a house you would use it. But yeah the state should just lower taxes instead of doing this
these are federal tax deductions
IOW what you pay in states taxes would be deducted from your federal taxes
but only of you are a billionaire in a blue state
That’s what I’m saying if your state/local tax burden is >10k you are not necessarily a billionaire. That’s how much property taxes cost alone for most houses that are not in the boonies. It’s ridiculous but I agree to keep the salt deductions capped, because they are subsidizing the high cost of ny by reducing federal tax revenue from there. Without it ny would have to lower taxes or become definct. Problem is i hate the state and federal governemnt and dont think either of them should get any taxes