Good day all. One of President Trump’s major accomplishments was a tax reform bill that actually helped the middle class and actually taxed the rich. One of these was the limiting of the SALT deductions.
The SALT deduction, (SALT standing for State And Local Tax), permits taxpayers who itemize when filing federal taxes to deduct certain taxes paid to state and local governments. The Tax Cuts and Jobs Act capped it at $10,000 per year, consisting of property taxes plus state income or sales taxes, but not both. (From the Tax Foundation)
This hit the wealthy people in high tax states such as New York, Kalifornistan, Connecticut, etc, hard. It also had little effect on the actual middle class since they were generally still able to take and benefit from the full deduction. Since the rich were getting slammed by the blue states they lived and worked in, they took their money and their taxes to states that didn’t consider them piggy banks to be looted by the tax fattened progressive legislatures.
For places like New York, this was devastating economically. Add to that the tendency for the progressive totalitarian liberal govnos to turn their states into giant prisons and lock everyone up, their budgets imploded. They have been demanding that the Red State taxpayers bail them out of the fiscal holes they’ve dug for themselves. Repealing the SALT limits is at the top of their list of things to do. Here are the details on their plans from Fox Business:
House Speaker Nancy Pelosi signaled support this week for including a repeal of the $10,000 cap on state and local deductions in President Biden‘s sweeping spending proposal.
“Hopefully we can get it into the bill,” Pelosi said during a Thursday news conference. “I never give up hope for something like that.”
Considering that her family was hit by the tax reform package signed into law by the Greatest President of the 21st Century, Donald Trump, I would suggest that she might possibly have a small conflict of interest here.
Several Democrats from New York and New Jersey this week threatened to withdraw support for the $2.25 trillion infrastructure measure, dubbed the American Jobs Plan, unless the Trump-era deduction limit is lifted.
Now why would they be so opposed to something that actually, “Taxed the rich” I wonder? I think we know the answer. The Progressive Liberal Democratic CommuNazis have never been for the “Working people,” they have always supported the Progressive rich elite.
Pelosi called the deduction cap, which was imposed by Republicans with the passage of the 2017 tax overhaul, “devastating” to taxpayers in her home state of California and said she is “sympathetic” to rank-and-file members’ push to roll back the deduction limit.
Perhaps if the Central Executive Committee of the Congress of Soviets in the People’s Democratik Republik of Kalifornistan didn’t consider looting and pillaging the working class in the state, they wouldn’t be in so much trouble economically. Also, the regulatory nightmare out there has driven housing costs into geosynchronous orbit. That hasn’t helped matters one bit. Still, people are beginning to look at the bill that San Fran Nan wants to shove through and people are noticing the incredible stench coming from it.
But the hard-line from the group of moderate Democrats could put the bill’s passage at risk: Unless 10 Republicans break with Senate Minority Leader Mitch McConnell, who slammed the plan as a “Trojan horse” for major tax hikes, or the White House significantly changes its offer, Democrats will almost certainly have to pass the measure via budget reconciliation, the obscure Senate rule the party used last month to approve Biden’s $1.9 trillion American Rescue Plan without a single GOP vote.
The Democratic CommuNazis are acting just like Communists and Nazis. (Hence the nickname) They have no interest in governing and working to make America better. They are only taking care of themselves and their rich benefactors. For them it’s all about absolute power, gaining and maintaining it. Normally, they would be blown out massively in the midterm elections, but it remains to be seen if those elections would be honest, or even held. (Paranoid much?)
Eliminating the SALT deduction cap would require Democrats to vote for a policy that disproportionately benefits wealthy Americans living in blue states. Households earning at least seven figures a year would receive the majority of the benefits, according to the Joint Committee on Taxation.
And that is not the majority of Americans. It is, however, the majority of guilty rich white Progressives. They are all for “Helping the poor and downtrodden” as long as it doesn’t cost them anything personally. The moment that it’s their bank accounts that are getting raided, they do two things. Call their minions in Washington to “Fix this” and if they fail to do so, they move themselves, and their money to a place that respects their superiors.
In the last 10 weeks, we have seen just how much damage the Democratic CommuNazis have done, and we can extrapolate what they will do over the next year. At the rate they’re moving, along with the utter contempt they have for the Constitution, the Rule of Law, the Nation and most especially, for the average American, there is a fair chance that the United States might actually collapse.
I don’t care to imagine what will happen then. I read plenty of novels that go into detail on the collapse of the United States, and those writers understand that such a collapse would have global ramifications. (Thank you, but I would like to not have a global thermonuclear war, or any kind of war for that matter) Someone needs to get into Pelosi’s face and loudly explain to her what she is doing will lead to the crushing at the polls of the Democrat party. (Again, provided we actually have elections and they are honest)
Thatisall
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