Many Republicans also decried the reduction in SALT tax deductions, simply out of "less tax is better". I get that. But I also get that offering a 10-37% reduction in your confiscatory high state and local taxes is shielding you from the true cost of your local government - while passing that burden (which must be borne by somebody) to the rest of the nation. (Those numbers depend on your federal marginal rate, and let's be real: this deduction is taken by those who itemize - mainly those at the top end) And the majority of us (70%) who just take the standard deduction pay the full freight of SALT without deduction. So capping SALT deductions at a much lower level exposes more "influential" people to the true cost of their local policies. I'm all for that. And if they don't like that, they should leave - rather than asking the rest of us to subsidize their state and local profligacy.
I favored the SALT cap, as a matter of broader policy, even though it hurt me. When I crunched the numbers back then, the change in rates and upward shift in brackets offset the loss of deduction in my case, and by extension, in the case of those who had similar income and tax profiles.
So, even many who were impacted by the SALT cap weren't "net-harmed." The squawkers who complained about not taxing the rich enough but also argue against the SALT cap are, as I figured back then, pissed off that their favorite blue-state geese might be incentivized to move.
They do have an alternative: vote for people who will rein in the state and local spending and cut taxes locally. Yeah, I know, Pollyanna call your office!
“The intrusiveness is as bad as the certitude. Especially if you're the sort who doesn't like to be told "you must do this my way," which is a very common American trait (we are very open to suggestions, we are very resistant to demands). There is a wealth of observations from conservative and libertarian quarters about how bad an idea it is to give power to people who desperately want to be in charge, and a collectivist caterwaul from the Left that the only way society can get better is to give them total control and follow it up with silence and submission.”
The left can't afford to let people leave rather than run the whole. If they restrict themselves to the puritanical residents of the blue areas they govern, they'll quickly run out of OPM.
Many Republicans also decried the reduction in SALT tax deductions, simply out of "less tax is better". I get that. But I also get that offering a 10-37% reduction in your confiscatory high state and local taxes is shielding you from the true cost of your local government - while passing that burden (which must be borne by somebody) to the rest of the nation. (Those numbers depend on your federal marginal rate, and let's be real: this deduction is taken by those who itemize - mainly those at the top end) And the majority of us (70%) who just take the standard deduction pay the full freight of SALT without deduction. So capping SALT deductions at a much lower level exposes more "influential" people to the true cost of their local policies. I'm all for that. And if they don't like that, they should leave - rather than asking the rest of us to subsidize their state and local profligacy.
I favored the SALT cap, as a matter of broader policy, even though it hurt me. When I crunched the numbers back then, the change in rates and upward shift in brackets offset the loss of deduction in my case, and by extension, in the case of those who had similar income and tax profiles.
So, even many who were impacted by the SALT cap weren't "net-harmed." The squawkers who complained about not taxing the rich enough but also argue against the SALT cap are, as I figured back then, pissed off that their favorite blue-state geese might be incentivized to move.
They do have an alternative: vote for people who will rein in the state and local spending and cut taxes locally. Yeah, I know, Pollyanna call your office!
AMEN, AMEN, AMEN!!!
“The intrusiveness is as bad as the certitude. Especially if you're the sort who doesn't like to be told "you must do this my way," which is a very common American trait (we are very open to suggestions, we are very resistant to demands). There is a wealth of observations from conservative and libertarian quarters about how bad an idea it is to give power to people who desperately want to be in charge, and a collectivist caterwaul from the Left that the only way society can get better is to give them total control and follow it up with silence and submission.”
The left can't afford to let people leave rather than run the whole. If they restrict themselves to the puritanical residents of the blue areas they govern, they'll quickly run out of OPM.