Mikeoxenormous
Diamond Member
In Greenwich and Manhattan, Tax-Hike Fears Fuel Talk of Exodus
You always hear from the left that the RICH should pay more. Here it is. No longer will rich states, which tax the shit out of the rich in the first place, get a tax break so the federal income tax gets short changed. Are you happy that the rich no longer get this tax loophole?By eliminating the deduction for most state and local taxes, an individual making a yearly salary of $1,000,000 -- a figure not uncommon in the financial industry -- would owe the Internal Revenue Service an additional $21,000, according to a preliminary analysis by accounting firm Marcum LLP.