Wednesday, September 9, 2020

Try Not to Go Into Shock: N.Y. Times Op-Ed Piece Calling Out Democrats on Their Support for Rich People

 9/7/20 New York Times:

The election is a referendum not only on the moral failings of President Trump, Democrats argue, but on the economic fissures of the new economy. It is a fight, Mr. Biden says, on behalf of “the young people who have known only an America of rising inequity and shrinking opportunity.”

Why on earth, then, are Democrats fighting — and fighting hard — for a $137 billion tax cut for the richest Americans? Mr. Biden, Nancy Pelosi and Charles Schumer don’t agree on everything, but on this specific issue they speak with one voice: the $10,000 cap on deductions for state and local tax (better known as the SALT deduction) must go.

I cannot think of a better example of how Democrats claim to favor the poor, while actually favoring the rich, than this absurdity.  The article goes onto the skewer the rest of the tax cut bill, but here is an area where this change hurt people who are paying $25,000 a year in property taxes (what do you think the property taxes are like on those $100 million houses in the Hollywood Hills and Malibu Beach are like?), and because the standard deduction increased, the vast majority of Americans came out ahead.  The next time one of your wealthy liberal friends (but I repeat myself) complains about economic inequity, ask them why Democrats are trying to make Bezos, Bill Gates, and the Google billionaires better off.

1 comment:

tkc said...

The same can be said for electric car subsidies. Poor college kids aren't the ones driving these around (unless mom and dad bought one for them). Electric cars are usually the toys of the rich.

In my poor college days I drove around in a passed down Datsun 210.