Tuesday, April 13, 2021

Man Bites Dog (or, Democrats Oppose Soaking the Rich)

Back in 2018, I pointed out that Donald Trump's tax policy included the only "soak the rich" scheme that Democrats don't like: Capping the State And Local Tax (SALT) deduction.

Democrats don't want Washington soaking the rich in ways that might cause the rich to flee second soakings in their home states , e.g. moving out of New York and California to lower-tax states.

Interestingly, Joe Biden's tax proposal apparently doesn't do away with the Trump SALT cap, and now he's got a rebellion in the US House over it.

Cue world's smallest string section.

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