We’ve all heard the braggadocious complaints from blue state progressives about being net contributors to the federal coffers. These so-called elites resent all those ingrates in flyover country who take more from Washington D.C. then they give. Well, we’re finding out this is just another big lie perpetuated by a band of thumb suckers. We can thank the Trump administration for exposing this liberal myth. Here is an excerpt from USA Today:
Trump’s new tax plan would hit blue states hardest, by eliminating the federal deductibility of state income and property taxes. That’s going to make it harder for blue states to maintain the high tax rates they’ve traditionally levied.
Right now, if you pay state property or income taxes, you can deduct them against your federal income taxes. In effect, it means that if you’re in a high federal bracket, your state taxes may be offset by that federal deduction to the tune of 40% or more.
End the federal deduction, though, and high state taxes come straight out of taxpayers’ pockets with no offset. As economist Nicole Kaeding told The Hill, by allowing deductions for state taxes, “the federal government is essentially subsidizing high tax rates in states like California and New York.”
Whoa! Did I read that correctly? If I’m not mistaken, Americans are subsidizing states like California and New York to a tune of about 40% or more. I believe it’s time for these self-proclaimed elites to get off of their high horses and forgo all of those “loopholes” they level at everyone else. What’s that saying, “Paying taxes is the highest form of patriotism”? Time to pay up, libtards.