NEWS: Sanders Opposes Rumored SALT Tax Breaks for the Rich

[Donkees]

[RealityBasedNewYorkr]

1. Yeah, well, I ain't rich

…and the Trump Blue State Tax really clobbered us here in NYC. So repealing the SALT cap makes sense for a TON of middle income folks in the major urban centers.

[mn9driver]

2. I'm not rich, but I live in a high tax city in a high tax state.

People with regular incomes and regular houses in these places ended up with a hefty tax increase in 2017 with the Trump tax bill’s elimination of the SALT deduction above $10,000. Working folks also lost the ability to deduct their tools, uniforms, travel expenses and union dues. For a lot of us, that added up to a lot every year.

Of course, rich people lost those deductions as well, but it wasn’t just limited to them.

[questionseverything]

4. The tools,uniforms,travel expenses ect really needs to be addressed

[uponit7771]

8. +1, right !!! I think the "rich people" hammer is being used to crush flys

[MichMan]

3. 84% of the tax cuts go to the top 5%

Deja Vu all over again

[George II]

5. He isn't affected by the SALT cap as much as tens of millions of middle class Americans.....

Why penalize them for the sake of relatively few "rich" people.

My parents were far from rich, neither had college educations and were truly working class, certainly not earning $174,000 per year. The last few years they owned the house in which I grew up, the real estate tax alone was more than $12,000, not to mention city and state income taxes.

The SALT cap is WAY lower than their entire tax liability each year, it would have cost them thousands if they were still around.

[BlueIdaho]

6. Here we go again... nt.

[uponit7771]

7. This is a mistake, it should be by asset value and needed income for the area. Salts SHOULD come bac