Wall Street Journal
Democrats’ SALT Sleight-of-Hand
“…Democrats want to front load a tax cut on the wealthy that they don’t know how to pay for, so they’re playing games with the 10-year window Congress uses for scoring policy changes. The Tax Foundation found the biggest benefit from the unlimited deduction went to households with incomes above $1 million.
“Democrats may hope that in a few years they can eliminate the SALT deduction cap permanently when they have a majority to support even bigger offsetting tax increases. Yet the deduction remains regressive and does nothing for growth or fairness. It also shrinks the tax base and thus raises pressure for higher tax rates on everyone, including the middle class.”
Read the full article here.