GOP Should Put Tax-loving Dems on a no-SALT Diet

As the GOP's tax-cut bill advances through Congress, Republicans completely should scrap the federal deduction on state and local taxes (SALT).While this reform is not yet enacted, it already is having a positive effect: Liberal Democrats are holstering their magic wands and focusing on the consequences of their lust for high taxes."We've got to hit the pause button right now," Democrat Steve Sweeney, president of New Jersey's State Senate, told Fox News Channel's Neil Cavuto on Nov. 21. "After I had got elected, I had said, 'First thing on the agenda is the millionaires' tax. We gotta get it for school funding.' And then this happened, and it's like, 'Wait a minute, I gotta take a step back and be more pragmatic and think about what's best for the state of New Jersey.' You know, 1 percent of people in the state of New Jersey pay about 42 percent of its tax base. And you know, they can leave."Sweeney seemed chastened, refreshingly cautious, and suddenly aware that hiking levies on those who already pay more than their fair share of taxes is a perfect way to "force people to look to another place" to live and work. And if paying 42 percent of income taxes is not beyond "fair" for the top 1 percent, then what is?  Continue reading...

Read More

Copyright The Dallas Morning News
Contact Us