Good day all. When the Greatest president of the 21st Century, Donald Trump, put forward a new tax bill, one of the things it did was cut taxes on businesses so they could hire more people and expand production. He also removed the tax break on state taxes and home mortgages above a certain level.
This hit the rich right in their wallets, especially in very high tax states like New York, Kalifornistan, Connecticut and New Jersey, to name a few. The problem was the high tax states relied on the SALT deduction to allow them to tax the rich at high levels. The idea was that the deductions would pretty much zero out the state taxes. When the deductions went away, so did the Rich. Now the Progressive Liberal Democratic Communazis are trying to restore the SALT deductions. Here are the details from the Washington Examiner:
Democratic leadership outlined plans Monday to bypass GOP filibusters to alter the cap on deductions for state and local taxes paid, a tax break largely for the wealthy opposed by most Republicans and some Democrats.
The fiscal 2022 Senate Democratic budget proposal released on Monday calls for “SALT cap relief” among its sweeping measures. While the budget is not legislation and is not binding, approving it would unlock a legislative process that would allow for Democrats to enact legislation with a simple majority in the Senate, meaning that Republicans could not block it using the filibuster.
The proposal comes after vocal advocates in the self-described “SALT caucus” pushed for changes to the tax code. A $10,000 cap on the SALT deduction, which largely benefits high-income households, was imposed by Republicans as part of the 2017 Tax Cuts and Jobs Act, which was signed by then-President Donald Trump.
Gee, isn’t the “Democrat” Party supposed to be for the regular taxpayer and always looking to “Soak the Rich” and make them pay “Their fair share?” I mean we have Fauxahontas Warren who wants to institute a “Wealth Tax” that will take a minimum of 2% annually of whatever you are worth. Interestingly, the level that the tax would kick in is above what Warren herself is worth.
Members of the SALT caucus, which include both Republicans and Democrats, hail from high-tax states and argue that the cap doesn’t just affect wealthy people because of the cost of living in their districts, although the Tax Policy Center found that only 3% of middle-income households would pay less in taxes if the cap is removed.
“This group is going to work together to educate people about how the middle class in my district or in many of the districts here is very different from the middle class in other districts in the country,” said Rep. Tom Suozzi, a New York Democrat and co-chairman of the SALT caucus, in April.
Very few people in the middle class have property taxes that run over $10K per year. It’s generally the rich Progressives who have the high value mansions and estates.
Raising the SALT deduction cap has faced opposition among some lawmakers. GOP Sen. Pat Toomey of Pennsylvania and other lawmakers have argued that the change would force low- and middle-income people to subsidize wealthy individuals in high-tax states and municipalities.
That’s the whole idea. To quote Leona Helmsley, “We don’t pay taxes; only the little people pay taxes.” The Rich, who these days are very progressive, (As in they want to progressively put anyone not a part of their class into slavery), and if they have to pay more in taxes, they won’t be able to donate to all the progressive causes, like reelecting Communazis. Not all Communazis are on board with helping the rich progressives pay less in taxes. Some are opposed.
Meanwhile, socialist Rep. Alexandria Ocasio-Cortez said that removing the cap would be a “gift to billionaires.” She was not among the vast majority of House Democrats from New York who have been lobbying to remove the GOP-imposed ceiling.
“There’s a conversation to be had, I think, about the cap itself and at what level it is appropriate and where we can help families that are really deeply impacted,” she said earlier this year. “We can have a conversation on the policy, but it’s a bit of an extreme position, to be frank.”
There is a reason that the New York Communazi party wants to drop Alexandria Occasional-Cortex into the Hudson river. She doesn’t fully understand that the “Special Progressive Elites” of New York deserve to keep all their money. Since she fails to understand, they are going to invites her to take a flight on Pinochet Airways, so to speak.
Democrats last tried to repeal the cap in 2019, when they held a hearty 34-member majority in the House. Sixteen Democratic lawmakers joined Republicans in voting against it, and it passed 218-206, although it languished in the Republican-held Senate. The 34-vote majority Democrats once had has shrunk to just eight.
It is unclear from the directive in the budget as to what exactly the “relief” for the SALT cap would be, although the Tax Foundation, a nonpartisan think tank that generally prefers lower taxes, estimates that repealing the deduction would cost the United States $380 billion in revenue.
Don’t you just love how so called “Tax Foundations” refer to taxes as revenue? It isn’t, it’s taxes. The Tax Foundation has the usual Big Government, Globalist, Uniparty mindset that all money belongs to the government. However, that is for another day. If their numbers are correct, (Which is questionable), where would the tax fattened hyena’s on Congress get the money to replace the give away to their wealthy masters benefactors? That’s easy. Take a look in the mirror.
The Trump Tax law was, generally, quite beneficial for most people. The ones who were hurt by it were the ultra wealthy in high tax states. When they started getting hit, they did two things. First, the moved and took their tax money with them. This caused massive holes in the budgets of the states run by Progressives. They haven’t been able to replace those losses and actually cutting spending is right out for them. (They need the money to buy votes to keep their useless butts in office)
Second, for those rich progressives, they started screaming to the high heavens, demanding that they, the “Special people” get their tax breaks back. They have made it clear that they aren’t going to be handing any campaign donations to their minions in office until they repeal the tax law. Since the campaign donations are drying up, the minions are worried about losing their phony baloney jobs.
Undoing one of the things that President Trump put into place that actually helped people at the expense of the rich allies of the Communazi Party has been one of the top priorities for the Communazis. Never mind how it looks. As far as people like Pelosi, Schumer and the others are concerned, the sheep will do what they’re told to and pay through the nose until there is nothing left. And they wonder why more people have started thinking the unthinkable.
As it stands, it’s unlikely they will achieve their goal of “Soaking the middle class to benefit the Rich.” This doesn’t mean they aren’t going to try, and as usual, it will play right into the hands of the Republican Party. The ads on the Communazis hypocrisy write themselves.
Thatisall
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