Saturday, July 18, 2020

Replace it with the Fed tax?

Memo to Mitch: Repeal the Republican tax increase
It is often forgotten that the big Republican tax “cut” in 2017 actually raised taxes on about 10 percent of Americans. Some people weren’t rich enough to get much of an income tax rate reduction but they still lost the ability to deduct all of their state and local taxes (known as “SALT”). The law capped SALT deductions at $10,000 per year.

Note. The author does not realize we be taxed in any event.

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