Tax the Rich! But not my rich!
https://www.foxnews.com/politics/pel...-salt-rollback
Pelosi wants to roll back and put the SALT exemption back in the federal code, so they can deduct their high state and local taxes.
It only impacts people who itemize, so it's basically a tax break for the more wealthy. Now, in those high tax areas usually $100K is nothing, so many of those aren't "rich", but a whole lot of them are, and on a national level they're still better off than most.
Just think it's funny they want to raise revenue by taxing people but want to let state and local governments run rampant with taxation in wealthy areas and then get a break on it with the feds.
Not sure how that's fair to states that keep their taxes lower, like Florida and Texas, etc.
BTW, Pelosi and her husband own a winery, 2 homes in San Fran area, etc. They ARE the rich people they complain about, as are the rest of the leaders who promise they care about us.
I don't blame her for lobbying for things that help her district, but I do blame her for being hypocritical about wanting to not use tax breaks as stimulus unless that tax break is directly beneficial to a very few districts that happens to include hers.
Re: Tax the Rich! But not my rich!
There should not be any tax increase for a family that makes less than $500,000.
More than $500,000 I am in favor of potentially* increasing their taxes.
I need to understand how businesses are taxed as I am concerned about the tax level that Amazon does (Not?) pay.
But you are correct 100,000 doesn't go very far in some areas.
Re: Tax the Rich! But not my rich!
Quote:
Originally Posted by
CitizenBBN
https://www.foxnews.com/politics/pel...-salt-rollback
Pelosi wants to roll back and put the SALT exemption back in the federal code, so they can deduct their high state and local taxes.
It only impacts people who itemize, so it's basically a tax break for the more wealthy. Now, in those high tax areas usually $100K is nothing, so many of those aren't "rich", but a whole lot of them are, and on a national level they're still better off than most.
Just think it's funny they want to raise revenue by taxing people but want to let state and local governments run rampant with taxation in wealthy areas and then get a break on it with the feds.
Not sure how that's fair to states that keep their taxes lower, like Florida and Texas, etc.
BTW, Pelosi and her husband own a winery, 2 homes in San Fran area, etc. They ARE the rich people they complain about, as are the rest of the leaders who promise they care about us.
I don't blame her for lobbying for things that help her district, but I do blame her for being hypocritical about wanting to not use tax breaks as stimulus unless that tax break is directly beneficial to a very few districts that happens to include hers.
It is not a matter of "fairness". We are "subsidizing" the people living in those states. It is the equivalent of many of us paying taxes in those states.
