Who knew that Democrats love tax cuts for the rich?
They’d never put it that way, but that’s what
Joe Biden, Nancy Pelosi, Chuck Schumer, and virtually everyone on the left are demanding with
their calls to repeal a key part of the 2017 tax reform law.
Democrats are promising to roll back one of the most important provisions of
the 2017 reforms. The Republican law eliminated the open-ended deduction for state
and local taxes. This move raised taxes on high earners in the most liberal
states, which allowed for larger tax cuts on job creators and working families.
Even liberal groups have praised this policy, yet Democrat leaders are
dead-set on repealing it, giving mostly wealthy Americans a $137 billion tax break.
The reason is simple: The state and local tax deduction lets liberal states hide the costs of their own massive tax hikes.
Rich liberals in California, New York, New Jersey, Connecticut, and Illinois
are finally feeling the full sting of their states’ high tax rates. Those
states should be cutting their own taxes and spending, not pushing Joe Biden
and the Democrats to give them a handout.
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