In Coronavirus Spending Bill, Democrats Push Massive Tax Cut For The Rich

JustAGuy1

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Aug 18, 2019
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As the White House and House and Senate leaders continue trying to decide how to distribute more deficit spending on items tagged “coronavirus,” Democrats have come under fire for pushing a $137 billion tax break for the wealthy. The proposal, which was also part of a 1,800-page bill the Democrat-led House passed in May, would remove the current $10,000 limit on state and local tax deductions from federal taxes through 2021.

The richest Americans use this tax break, which effectively subsidizes high-tax states by lowering their fiscal burdens to high-income taxpayers. The Tax Policy Center, an affiliate of the Brookings Institution, estimated the proposal would give an average tax cut of $33,000 to the top 1 percent of income earners. Over half of the benefits of the proposal would go to that top 1 percent.


The tax break was spearheaded by Democrat Rep. Tom Suozzi of New York, who insists it’s necessary to keep wealthy New Yorkers from fleeing his state over it fleecing of them for huge social welfare programs.


There are those of us who keep trying to tell you they are all the same.........but NNOOOOOOOOOOOOOOOOOOOO you won't believe us.
 
As the White House and House and Senate leaders continue trying to decide how to distribute more deficit spending on items tagged “coronavirus,” Democrats have come under fire for pushing a $137 billion tax break for the wealthy. The proposal, which was also part of a 1,800-page bill the Democrat-led House passed in May, would remove the current $10,000 limit on state and local tax deductions from federal taxes through 2021.

The richest Americans use this tax break, which effectively subsidizes high-tax states by lowering their fiscal burdens to high-income taxpayers. The Tax Policy Center, an affiliate of the Brookings Institution, estimated the proposal would give an average tax cut of $33,000 to the top 1 percent of income earners. Over half of the benefits of the proposal would go to that top 1 percent.


The tax break was spearheaded by Democrat Rep. Tom Suozzi of New York, who insists it’s necessary to keep wealthy New Yorkers from fleeing his state over it fleecing of them for huge social welfare programs.


There are those of us who keep trying to tell you they are all the same.........but NNOOOOOOOOOOOOOOOOOOOO you won't believe us.


"Blue-State Tax Break Becomes a Flashpoint in Coronavirus-Relief Bill
Democrats say $10,000 limit on state and local deductions hurts states’ ability to fund services; Republicans mock effort to repeal the cap."

the Great Douche 2017 tax fraud scam put the limit at 10k.
One, it needs to go back and take the tax break away from the top 10%, FFS!
When the Great Orange Douche is out of office, so goes the BS 2017 Tax scam it got passed.
And every last dollar (hundreds of billion say Apple) held outside USA to dodge paying taxes. Get all taxed at double the rate in 2016. Plus fines.
 
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The left needs to be held down and reality hammered into their heads with a sledgehammer.

The more taxes paid the bigger the tax cut. The poor will never benefit from a tax cut. They don't pay taxes. They want a subsidy, a gift for doing nothing.
 
The left needs to be held down and reality hammered into their heads with a sledgehammer.

The more taxes paid the bigger the tax cut. The poor will never benefit from a tax cut. They don't pay taxes. They want a subsidy, a gift for doing nothing.

Yeah, screw that 27 trillion dollar debt.
 
The left needs to be held down and reality hammered into their heads with a sledgehammer.

The more taxes paid the bigger the tax cut. The poor will never benefit from a tax cut. They don't pay taxes. They want a subsidy, a gift for doing nothing.

Yeah, screw that 27 trillion dollar debt.
Why not. The poor are never going to pay it. They don't pay taxes.
 
The left needs to be held down and reality hammered into their heads with a sledgehammer.

The more taxes paid the bigger the tax cut. The poor will never benefit from a tax cut. They don't pay taxes. They want a subsidy, a gift for doing nothing.

Yeah, screw that 27 trillion dollar debt.
Why not. The poor are never going to pay it. They don't pay taxes.
Bring back the 75% death taxes on the top 32%
 
The left needs to be held down and reality hammered into their heads with a sledgehammer.

The more taxes paid the bigger the tax cut. The poor will never benefit from a tax cut. They don't pay taxes. They want a subsidy, a gift for doing nothing.

Yeah, screw that 27 trillion dollar debt.
Why not. The poor are never going to pay it. They don't pay taxes.

The poor isn't. Individually they do not benefit the most from the debt either.
 
Well, Tim Scott and the gop want to put back in the tax cut for business lunches. It's stimulus. I mean it's not like the dems are saying they want to cut Medicaid to red states that expanded under Obamacare.
 
So...now tax cuts are bad?
Jeez it's hard to keep up!
 
The simple truth is that the democrats hate rich guys except for the ones that live in their states. Fuck the ones that live somewhere else. The alternative is to spend less money when you get less revenue, but oh no, we can't do that.

Another way to put it is like this: should a rich person in a state that has higher state and local taxes (mostly property) pay less in federal taxes than another rich person who has basically the same income and other deductions but lives in a lower-taxed state? That's what the democrats want to do, give the rich guys in their states a tax break by allowing them to deduct more on their federal taxes. Everything else being equal, the rich person in say New York would pay less federal taxes if there was no SALT deduction limit than a guy in say Texas. So the guy in New York should get a break on his federal taxes cuz he lives in New York? I don't think so.

Besides, they're leaving NY anyway and it ain't due to the SALT deduction.
 
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