I Have Understated SALT's Effects on the Blue Wall

[william the wie]

In addition to migration of tax paying people there are tax shelters that can be and apparently are being used sparingly now but accountants and lawyers are pushing a wide range of products to reduce or even remove SALT liabilities. Or so it is claimed.

Case law from the tax courts and particularly the tax preparation chains that push the envelope should start sorting out duds and deals in terms of deductions about June 15. That will lead to further tax court decisions as the smoke clears.

SALT is going to hurt Blue states a lot more than expected. One of the unexpected big problems is that banks and other financial intermediaries have and will continue to create financial services to make a profit out of getting people out of high SALT states. Reverse mortgages, home equity loans, partial equity sales and no doubt other financial instruments existing or soon to be created will speed up the decline of the Blue Wall.

 

[sparky]

In addition to migration of tax paying people there are tax shelters that can be and apparently are being used sparingly now but accountants and lawyers are pushing a wide range of products to reduce or even remove SALT liabilities. Or so it is claimed.

Case law from the tax courts and particularly the tax preparation chains that push the envelope should start sorting out duds and deals in terms of deductions about June 15. That will lead to further tax court decisions as the smoke clears.

SALT is going to hurt Blue states a lot more than expected. One of the unexpected big problems is that banks and other financial intermediaries have and will continue to create financial services to make a profit out of getting people out of high SALT states. Reverse mortgages, home equity loans, partial equity sales and no doubt other financial instruments existing or soon to be created will speed up the decline of the Blue Wall.

is this what you're referring to Will?>>

State and local tax deduction repeal is another blow for blue-state wealth

~S~

 

[BlackFlag]

Trying to steal more money from blue states to give to low economy, welfare queen red states is a good short term strategy politically, but terrible in the long run and bad for the country in the short and long term.

 

[Disir]

well, when it's not their wealthy.
Democrats Want to Restore Tax Break for the Wealthy | RealClearPolitics

 

[william the wie]

While that source too is true if the Ds can win both houses of congress by promising to raise taxes on their donor base they will attempt to repeal the SALT cap and see their tax base and voter base vanish. With the growing Clown Car giving Trump the best opposition research in US History no matter who is nominated the WH is secure.

 

[william the wie]

well, when it's not their wealthy.
Democrats Want to Restore Tax Break for the Wealthy | RealClearPolitics

The warring sources agree on just one thing: lawyers, bankers, accountant and Tax services are getting really rich destroying the Blue Wall tax base prior to the 2020 election year. That in turn is destroying the D donor base.