If there’s one topic that never fails to make Congressional Republicans smile, their mouths water, and gives them an instant stiffy, it’s tax cuts for the super rich. Oh, how they love to cut taxes on millionaires and billionaires while giving the rest of us a couple of hundred bucks a year to keep us content!
Now, in their latest effort to give a gigantic tax break to their wealthy contributors (and their treasonous president), the GOP has come up with a way to not only make sure the rich get richer, but also guarantee people in Democratic states pay lots more in return.
How, you might ask, can they pull that one off? Easy peasy lemon squeezy, my dear Watson: The current tax plan being written by Republicans would totally eliminate the federal deduction for state and local taxes. That raises taxes on all states, you might say. True, but it would still have a bigger impact on states where taxes are already higher. Specifically, the following states: Connecticut, New York, New Jersey, and California.
Martin Sullivan, chief economist for Tax Analysts, had this to say about the GOP plan:
“Although Republicans usually recoil at any type of tax increase, cutting this tax break would almost be fun for them. It provides massively disproportionate deductions to high-tax states controlled by Democrats.”
Attempting to defend the plan, Rep. Kevin Brady (R-TX) said raising taxes on some will help lower taxes for all:
“We’re proposing a much simpler code with lower rates where everyone gets help whether they are paying their state and local taxes or they are putting their kids in college.”
He forgot to add, And we get to stick it to Democrats; that makes it even better!
Yes, leave it to Republicans to screw over their opponents by hook or by crook for their own political gain. Kinda like their POTUS did in the election.
Featured Image Via NBC News