Lies, lies and more lies. In November, 2017, the House Republicans proposed a tax reduction plan that was touted (by the Republicans) as a big boon to the middle class. If passed, it maybe gives the average middle class taxpayer another $25 a week in spending money. What will that taxpayer do with the extra money? Buy more food? Maybe some new clothes at Walmart? Yes, the tax reduction is a nice little middle class income booster. But not if you live in New York or California!
Why do I say that? The tax plan, as proposed, does away with the state and local tax deduction. In California, state and local taxes can amount to over 13%. Doing away with state and local tax deductions means that millions of taxpaying Californians will get a HUGE TAX INCREASE! Up to 13%. And New York City taxpayers will get a 12% tax increase!
Hey, Republicans, How is that a tax reduction? Ask any third grader, it's a tax INCREASE. Two of the most populous states in the U.S. will not get a tax reduction, they will get a big fat tax increase!
Do not tout this plan as a tax deduction. For millions of taxpayers, on both coasts, it's a huge tax increase.
Yes, I live in California. So do 39 million other people. And Washington, D.C. politicians want to RAISE our taxes an additional 13%??? Conversely, seven states have no income tax: Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming. Hmm. Which one shall I, and 39 million other people, move to?
