Democrat governors vow to sue federal government to kep tax breaks for...the RICH!
On Feb. 1, Maryland’s attorney general signaled his state will join Democrat-run New York, Connecticut and New Jersey in spending scarce taxpayer dollars to sue the federal government over a provision in the Trump tax-cut bill.
You're probably thinking, "Wait, I thought the bill cut federal taxes for the average taxpayer. How can politicians be screamin'-mad about that? And I thought Democrat pols have always claimed to be "for the working man and woman." So how could Democrats object to that?"
But remember that these are Democrats we're dealing with, and as Nancy Pelosi wrote to all Dems a couple of weeks ago, "We must oppose anything and everything Trump and the Republicans try to do!" So yes, the treasonous sons of bitches ARE opposing part of the tax-cut bill.
They issue that has their knickers in a twist is a provision that limits the amount all taxpayers--nationwide--can deduct on their FEDERAL tax return for taxes they pay to states and local governments. Before the change it was an unlimited amount. The new law cut that to $10,000.
You should know that the only folks who benefit from unlimited deductions for state taxes are those who "itemize" deductions.
And who itemizes? Almost exclusively high-income taxpayers whose state and local tax amounts exceed the value of the standard deduction.
So for example, a wealthy resident of New York City pulling down a cool $1.5 million bucks a year might be paying almost $110,000 a year to the state, and probably another $50,000 in ad-valorem taxes. So limiting the amount of this that he can deduct on his federal tax will cost him quite a bit. But the average guy earning $150K a year won't see much difference.
"Wait...let me get this straight. You're saying the Democrats are filing a lawsuit to preserve a tax break for the RICH? That's a hoot, cuz every single time the Republicans propose a tax cut, Dems have screamed that the Repub proposal will mainly benefit "the rich." But now they're suing the federal government for...making the rich pay more taxes?? Is this a joke?
Nope. It's just the way the lying Democrat pols roll. They'll reverse positions completely in a week if it lets them complain about some Republican effort--and then use their media cover to claim that their new position isn't a reversal at all.
As many Constitutional experts have noted, the odds of success for such a lawsuit are incredibly low, since the Constitution gives congress the power to write any kind of federal tax bill it can pass, as long as the taxes are levied uniformly on all residents. But the Dems may not actually care about winning, but simply want yet another way light a fire under their base by opposing Republican legislation, even if that legislation will greatly benefit the majority of Americans.
You're probably thinking, "Wait, I thought the bill cut federal taxes for the average taxpayer. How can politicians be screamin'-mad about that? And I thought Democrat pols have always claimed to be "for the working man and woman." So how could Democrats object to that?"
But remember that these are Democrats we're dealing with, and as Nancy Pelosi wrote to all Dems a couple of weeks ago, "We must oppose anything and everything Trump and the Republicans try to do!" So yes, the treasonous sons of bitches ARE opposing part of the tax-cut bill.
They issue that has their knickers in a twist is a provision that limits the amount all taxpayers--nationwide--can deduct on their FEDERAL tax return for taxes they pay to states and local governments. Before the change it was an unlimited amount. The new law cut that to $10,000.
You should know that the only folks who benefit from unlimited deductions for state taxes are those who "itemize" deductions.
And who itemizes? Almost exclusively high-income taxpayers whose state and local tax amounts exceed the value of the standard deduction.
So for example, a wealthy resident of New York City pulling down a cool $1.5 million bucks a year might be paying almost $110,000 a year to the state, and probably another $50,000 in ad-valorem taxes. So limiting the amount of this that he can deduct on his federal tax will cost him quite a bit. But the average guy earning $150K a year won't see much difference.
"Wait...let me get this straight. You're saying the Democrats are filing a lawsuit to preserve a tax break for the RICH? That's a hoot, cuz every single time the Republicans propose a tax cut, Dems have screamed that the Repub proposal will mainly benefit "the rich." But now they're suing the federal government for...making the rich pay more taxes?? Is this a joke?
Nope. It's just the way the lying Democrat pols roll. They'll reverse positions completely in a week if it lets them complain about some Republican effort--and then use their media cover to claim that their new position isn't a reversal at all.
As many Constitutional experts have noted, the odds of success for such a lawsuit are incredibly low, since the Constitution gives congress the power to write any kind of federal tax bill it can pass, as long as the taxes are levied uniformly on all residents. But the Dems may not actually care about winning, but simply want yet another way light a fire under their base by opposing Republican legislation, even if that legislation will greatly benefit the majority of Americans.
posted by SF at
6:14 PM
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