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October 29, 2021
Democrats Play Favorites, Plan to Cut Taxes for Rich People in Liberal Blue States
Dems have been deriding tax cuts for years now. They are greedy bastards, after all. Their favorite wallets to target are those of the rich. The ultra-wealthy, as Bernie and AOC might say. We've all heard the same tired line: "They need to pay their fair share!" But it's all bullsh*t.
The problem isn't billionaires and millionaires not paying their fair share. If it was about fair shares, congress would pass a flat tax, and everyone would be happy, especially the wealthy. But that would be fair, and yelling about the rich paying their fair share is about anything other than being fair. As is evidenced by a move by Democrats to raise a previously placed cap on SALT deductions.
SALT, or state and local tax, deductions allow tax filers to deduct a portion of the taxes paid on the state and local level from the amount paid on the federal level. Previously, this amount was capped by the Trump administration at $10,000, but now, Democratic representatives seek to change the cap, raising it to allow for more deductions in states where citizens pay incredibly high taxes. Democrats have been up in arms about giving the Trump tax cuts to these wealthy residents, but it would seem the Dems want more.
Former Republican senator and fellow at the Manhattan institute Brian Riedl points out, "the combination of keeping the low tax rate and being able to fully deduct state and local taxes gives these families an even bigger benefit than even the 2017 tax writers intended."
This move would only really benefit the wealthy living in states with high taxes, usually blue states, so there's no reason to wonder why Democrats would like to see this change passed.
They don't actually despise the rich; they only despise certain rich people. They'd never admit it. But seeing as how even the die-hard communists among them have amassed a great amount of wealth, it would be difficult for them to argue otherwise.
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