posted July 23, 2018 11:55 PM
July 23, 2018
Dem governors sue the federal government to save tax breaks for the rich
Rick MoranDemocratic governors in New York, New Jersey, Connecticut, and Maryland (while Maryland's Larry Hogan is a nominal Republican, he may as well be a Dem) are suing the federal government because they don't believe that Congress has the right to make tax policy. 
(Note, the Supreme Court disagrees with these democrat Governors)
The Republican tax cut caps the deduction for state taxes at $10,000. About 70% of taxpayers in most high-tax states are not affected because they pay less than the cap in state and local taxes. But the top 30% of earners are going to be forced to pony up, leading to substantially less revenue for states.
The irony is delicious. Democrats, who are always complaining that the rich don't pay their "fair share" of taxes, are suing to stop the rich from paying a fair share of taxes.
The state and local tax deduction for wealthier residents allowed these governors to jack up tax rates because those paying the most knew they could write off the excess on their federal tax returns. No more.....
http://www.americanthinker.com/blog/2018/07/dem_governors_sue_the_federal_government_to_save_tax_breaks_for_the_rich.html
Lindaland
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posted July 23, 2018 11:55 PM
posted July 24, 2018 04:39 PM