Friday, January 08, 2021

That Time Trump and the GOP "Soaked The Rich"

I'm surprised the SALT deduction cap didn't get more attention than it did. It's presumably partially responsible for the increased exodus rate from high-tax states.

With a Democratic president, a Democratic House, and a Senate that's tied (with a Democratic vice-president as tie-breaker and a handful of "moderate Republicans" who are likely to go with the Democratic flow), my guess is that the next tax bill will talk a lot about "making the rich pay their fair share" while quietly undoing the cap.

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