Joe Biden might have failed to get his radical tax and spending plan passed. But Democrats are still trying to find ways to push some of its measures through.
The left dreams of turning America into a socialist dictatorship. But to do that, they need to drain our bank accounts as much as possible. All the while, protecting their rich buddies in blue states.
That means eliminating rules that forced rich Democrats to escape federal income tax. But the Supreme Court just shut it down.
From Fox News:
The Supreme Court Monday rejected an appeal from several states challenging Congress’s cap on state and local taxes that can be deducted from federal taxable income…
The Supreme Court did not provide any explanation for declining to hear the case.
The SALT cap was passed by Congress during former President Donald Trump’s administration, and the Biden administration continued to defend it as this case went on.
The Supreme Court refused to hear a case challenging the Trump-era SALT deduction cap. For Democrats in D.C. to dramatically raise federal taxes—and keep their rich buddies happy—they wanted to remove the cap.
The SALT deduction allows rich Americans to reduce their federal tax based on how much state tax they pay. In high-tax blue states, rich folks pay plenty in state and local taxes.
This SALT deduction was a loophole, so they could end up paying fewer taxes to the federal government. It was a way Democrats could help out their rich buddies, who often fundraise for them during election years.
Trump set the deduction to $10,000. Democrats want to lift that deduction all the way to $80,000. Some Democrats, like Bernie Sanders, want it even higher.
But… I thought Democrats wanted the rich to pay their fair share? Why create a deduction that reduces how much they pay in taxes?
Because Democrats are full of hot air. They always find ways to help out their rich buddies (including themselves). So, the only people who end up paying more than their fair share are conservatives and the working classes.
Thankfully, the Supreme Court wasn’t buying this scheme.
- The Supreme Court refused to hear a case challenging the SALT deduction cap.
- Blue states want to raise the deduction, helping rich liberals.
- Trump had previously capped the deduction at $10,000.
Source: Fox News