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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They arent' Its always bullshit way to appeal to the low minded economically ignorant.
Trump tax cuts made it so all wealhty people finally had to pay their federal taxes in full.
Got details on that? I'd like to use it in debates later.
Within the Trump tax cuts that lowered the top rate , was a limit on how much state and local taxes could be subtracted from federals taxes. This exemption for instance, allowed someone paying 50 k in state and local taxes to exempt that amount owed from their federal taxes. The rich weren't paying their fair share in federal taxes , ever.
Trump put a 10k limit on how much SALT a person could exempt to their federal taxrs, forcing the wealthy to actually pay their federal taxes in full. Since 10k in personal state and local taxes is never exceeded by a poor or middle class person , it didnt effect them. The super wealthy hated Trump BECAUSE he forced them to pay up personally .
Ooohhh shit, I remember salt. I wish we still mined that.