Why do all these liberals have longer faces than Secretariat? The Trump tax plan was ingeniously designed to cut taxes on many Americans — but raise them on liberals. These people are always begging to pay more taxes. They finally got their wish!
With the state and local taxes no longer deductible, it means people in states and cities that impose high state or local taxes. will end up paying more taxes. These are people living in blue states. Serves them right. Be careful what you wish for. You might get it.All of those I’ve quoted presumably voted for Barack Obama, who once said (actually, he was pretty much always saying something like this), “At a time when the tax burden on the wealthy is at its lowest level in half a century, the most fortunate among us can afford to pay a little more.”
Excerpt from link:
Universities (mostly run by leftists) also get to contribute more too - isn't that wonderful?Look at the end of federal deductions for state and local tax (SALT). That won’t affect most Americans much. But in the high-tax places where liberals cluster — places like Chicago, Beverly Hills and New York City (which gave Hillary Clinton 74, 72 and 79 percent of their votes), this means you get to fork over more taxes to the feds, your city and your state to pay for all those wonderful government services you can’t get enough of. Putting a cap on the deductibility of property taxes means people who live in mansions, or who live in the most expensive coastal areas, will get hit. Surely that’s good news for Democrats who believe in taxing the rich.
Excerpt from link:
Universities with staggering amounts of wealth — Stanford has a $22 billion endowment, Yale $25 billion, Harvard $35 billion — are going to find themselves “asked to give a little something back to their communities,” as liberals usually phrase it.
It’s only a teensy 1.4 percent tax on the annual investment income of some of the most mind-bogglingly wealthy institutions on the planet. So what’s not to like, libs?
The non-rich universities (those with less than $250,000 worth of endowment per student in the House bill, $500,000 in the Senate bill) would be exempt. What, you don’t consider Yale, Stanford and Harvard to be “the most fortunate among us?”