Hypocrat of the Day
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Title : Hypocrat of the Day
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Title : Hypocrat of the Day
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New York Governor Andrew Cuomo told CNN’s New Day on Thursday morning that President Donald Trump’s new tax reforms are “a dagger in the heart of New York and California” because they cap the state and local tax (SALT) deduction.
Cuomo told CNN that Republicans had said: “Let’s pillage the blue [states] to give to the red.”
Currently, the SALT deduction allows federal taxpayers to deduct the taxes they pay to state and local authorities from their federally taxable income. That has insulated wealthy taxpayers in high-tax states (typically governed by Democrats) from the profligacy of their state and local governments, because they have been able to share the burden of paying for those high taxes with everyone else in the country, to the tune of nearly $100 billion in 2015.
That has led Cuomo and California’s Governor Jerry Brown to attack the new tax law.
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Cuomo told CNN that Republicans had said: “Let’s pillage the blue [states] to give to the red.”
Currently, the SALT deduction allows federal taxpayers to deduct the taxes they pay to state and local authorities from their federally taxable income. That has insulated wealthy taxpayers in high-tax states (typically governed by Democrats) from the profligacy of their state and local governments, because they have been able to share the burden of paying for those high taxes with everyone else in the country, to the tune of nearly $100 billion in 2015.
That has led Cuomo and California’s Governor Jerry Brown to attack the new tax law.
More here
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You are now reading the article Hypocrat of the Day With link address https://newstoday-ok.blogspot.com/2017/12/hypocrat-of-day_30.html