‘Evil’ Tax Cuts? Nope, It’s Blue-State Panic.

HEATHER WILHELM:


 ‘Evil’ Tax Cuts? Nope, It’s Blue-State Panic.

Thank goodness for people like Nancy Pelosi, Jerry Brown, the New York Times editorial board, and other blue-state stalwarts, whose No. 1 concern is to fight this pernicious money grab by a sinister, well-organized, and garishly wealthy elite! But hark, New York Times: What have we here? Why, it’s an analysis from your own news pages, dated December 5, with a doozy of a headline: “Among the Tax Bill’s Biggest Losers: High-Income, Blue State Taxpayers.”
Well, this is certainly awkward.

Let’s read on: “While the Republican tax overhaul would add up to an overall tax cut for individual taxpayers, at least through 2025, millions could still immediately receive a tax increase,” notes the report. Interesting! Who might those people be? “For many, particularly those in Democratic areas who earn $200,000 or more, the increase would come from the repeal of the state and local tax deduction, known as SALT.”

If you know anything about California, you likely now know why good old Governor Moonbeam is freaking out. California may be filled with natural wonders, but it’s also a Democratic area chock full of people who earn $200,000 or more — and it’s also known for high state-level income taxes, with a top marginal rate of 13.3 percent. In the bad old days, Californians could count on simply deducting this highway robbery from their federal taxable income, masking the state’s shenanigans and blunting the financial pain. The GOP tax bill yanks what is essentially a federal subsidy away, forcing blue-state residents to face the reality of their local high-tax, high-spending regimes.

They’re only being asked to pay their fair share.

118Posted at 12:25 pm by Stephen Green   

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