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If the Democrats get their way the bottom 80% will get just 4% of the tax savings* from ending the SALT cap and yet Chuck "1984" Schumer claims that this is about helping the middle class.
*Per the liberal Brookings Institute
Where is the logic there ?
It's not the middle class paying high state and local property taxes that will benefit.
The majority of people are stupid enough to believe him.
If the Democrats get their way the bottom 80% will get just 4% of the tax savings* from ending the SALT cap and yet Chuck "1984" Schumer claims that this is about helping the middle class.
*Per the liberal Brookings Institute
Well in all fairness to Chuck, the bottom 61% pay no federal income taxes anyway. It's that 19% in the top of the 80% that will benefit the most.
Well in all fairness to Chuck, the bottom 61% pay no federal income taxes anyway. It's that 19% in the top of the 80% that will benefit the most.
Nope. The top 1% benefits the most. From the left-wing Tax Policy Center...
The top 1% would receive most of the tax cut of the SALT tax deduction limit repeal: 56%.
The top 5%: 80% (Top1%-5% gets 24% of the tax cut - compare that to what the top 1% gets).
The top 20%-5% gets 16% of the tax cut.
The bottom 80% gets 4% of the tax cut.
Repealing the SALT tax deduction limit is the exact opposite of what Biden and the Congressional Democrats "claim" they stand for (taxing the richest of us the most). So WHY are they doing it?
Nope. The top 1% benefits the most. From the left-wing Tax Policy Center...
The top 1% would receive most of the tax cut of the SALT tax deduction limit repeal: 56%.
The top 5%: 80% (Top1%-5% gets 24% of the tax cut - compare that to what the top 1% gets).
The top 20%-5% gets 16% of the tax cut.
The bottom 80% gets 4% of the tax cut.
Repealing the SALT tax deduction limit is the exact opposite of what Biden and the Congressional Democrats "claim" they stand for (taxing the richest of us the most). So WHY are they doing it?
That's BS. I lived in Texas which has high property taxes. I'm no 1%er but was paying $10K a year in property taxes alone. And I lived semi rural...outside the city limits with no additional taxes.
That's BS. I lived in Texas which has high property taxes. I'm no 1%er but was paying $10K a year in property taxes alone. And I lived semi rural...outside the city limits with no additional taxes.
It's not BS. Those percentages are accurate. The Tax Policy Center has the data to prove it. They have a lot more info, as well.
Nope. The top 1% benefits the most. From the left-wing Tax Policy Center...
The top 1% would receive most of the tax cut of the SALT tax deduction limit repeal: 56%.
The top 5%: 80% (Top1%-5% gets 24% of the tax cut - compare that to what the top 1% gets).
The top 20%-5% gets 16% of the tax cut.
The bottom 80% gets 4% of the tax cut.
Repealing the SALT tax deduction limit is the exact opposite of what Biden and the Congressional Democrats "claim" they stand for (taxing the richest of us the most). So WHY are they doing it?
Hey you're preaching to the choir here, IS. And BTW, I am a 1%er and just left a blue state so it would have benefitted me but I think it's wrong. I want the middle class to succeed in this country.
Hey you're preaching to the choir here, IS. And BTW, I am a 1%er and just left a blue state so it would have benefitted me but I think it's wrong. I want the middle class to succeed in this country.
lol. Another one...you're in over your head in this thread.
Nah, but I'm smart enough not to waste my time with people that don't think in a rational manner and can't refute a comment. That's what happens when you let a cut/paste job do your talking and you're unable to think beyond it (eh sport?).
Nah, but I'm smart enough not to waste my time with people that don't think in a rational manner and can't refute a comment. That's what happens when you let a cut/paste job do your talking and you're unable to think beyond it (eh sport?).
Too bad a meta analysis of all the statistics collected and examined by various left-wing think tanks on this topic proves you wrong. The point that Grlzrl was making is that you don't have the cognitive capacity to realize it. Seems to be true from what I've seen.
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