Court rejects bid to hear Salt Tax case!

Sacramento CA

Description

How often have we heard from Joe Biden, Bernie Sanders and others preach their mantra that the rich must pay their fair share of taxes? New York led a group of states including Connecticut, Maryland and New Jersey in seeking to strike down the law that limits people to deducting $10,000 of state and local tax from their federal tax bill. The cap was enacted as part of the 2017 Trump tax bill as a way to offset other cuts. The states had argued that the cap improperly encroached on their taxing ability. However, the reality here, these states will be giving the rich a $70,000.00 tax break, by raising the deduction to $80,000.00. Can you please explain how that raise encroaches on their taxing ability? CAN YOU SAY HYPOCRISY?