“Democrats say wealthier Americans deserve a state and local tax break”
According to the Washington Times “…analysts say repealing the state and local tax limit is worth just dollars to the average middle-class taxpayer. For the wealthy, though, the proposal could lower tax bills by tens of thousands of dollars. The Tax Policy Center recently found that more than 96 percent of the tax cuts that would come from repealing the cap would go to the top 20 percent of households in terms of income.”
(bold, underline emphasis added)
The Democrats haven’t even been sworn in, and they’re already signaling big ideas and payback for the wealthiest among us, exposing themselves as the Party of the Rich.