Well, I guess Democrats really don't want the rich to pay their fair share after all. New York, Connecticut, Maryland, and New Jersey are suing the federal government over the cap on state and local taxes (SALT) imposed by the Tax Cuts and Jobs Act (i.e., the Trump tax cuts), even though the cap only affects people who are in the top 10% of income earners! Why are these states suing to protect tax breaks for the top 10%? Because the Democratic politicians in these states do not want to lower their sky-high income tax rates and property tax rates. They could easily do so tomorrow, but they don't want to.
The Trump tax cuts cap SALT deductions at $10K. I have never paid more than $10K in state income taxes and property taxes, and I am (just barely) in the top 10% of income earners, and I live in an affluent county in Northern Virginia, which is in the top 20 among states for high property tax rates. Generally speaking, in most parts of the country, to pay more than $10K in SALT, you would need to make at least $180K and own a house worth at least $450K. To pay more than $10K in SALT in Northern Virginia, you would need to earn around $150K and own a house worth at least $350K, or earn $120K and own a house worth $450K. You get the idea. We're talking about the top 10% of income earners, people whom the liberals have always said are not paying their "fair share." If you earn $114K per year, that puts you in the top 10% of income earners.
Rather than cut their sky-high income tax rates and property tax rates, these four blue states are wasting everyone's time with a frivolous lawsuit that even the Tax Foundation says has zero chance of succeeding. Memo to Governor Cuomo of New York: Stop your sniveling demagoguery. You and your fellow Democrats control the state government of New York. In about 48 hours, you could pass and sign bills to cut your income tax rates and your property tax rates.
Blue States Sue to Preserve State Tax Deduction: Frivolous Arguments | National Review
Blue states file suit against the US over tax deduction limits
The Trump tax cuts cap SALT deductions at $10K. I have never paid more than $10K in state income taxes and property taxes, and I am (just barely) in the top 10% of income earners, and I live in an affluent county in Northern Virginia, which is in the top 20 among states for high property tax rates. Generally speaking, in most parts of the country, to pay more than $10K in SALT, you would need to make at least $180K and own a house worth at least $450K. To pay more than $10K in SALT in Northern Virginia, you would need to earn around $150K and own a house worth at least $350K, or earn $120K and own a house worth $450K. You get the idea. We're talking about the top 10% of income earners, people whom the liberals have always said are not paying their "fair share." If you earn $114K per year, that puts you in the top 10% of income earners.
Rather than cut their sky-high income tax rates and property tax rates, these four blue states are wasting everyone's time with a frivolous lawsuit that even the Tax Foundation says has zero chance of succeeding. Memo to Governor Cuomo of New York: Stop your sniveling demagoguery. You and your fellow Democrats control the state government of New York. In about 48 hours, you could pass and sign bills to cut your income tax rates and your property tax rates.
Blue States Sue to Preserve State Tax Deduction: Frivolous Arguments | National Review
Blue states file suit against the US over tax deduction limits
Last edited: