Morris also said many of his wealthy customers paid the alternative minimum tax “and the value of their SALT deductions were frequently already limited. Some impacts are minimal. And high-net-worth people know, even when they don’t admit, that in a progressive tax system the wealthy pay more.”
All Levels Of Upper Wealth Feeling Acute SALT Cap Pain
February 25, 2019
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Comments
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The attack on relatively higher tax states is unfair since they all send more funds to the federal government than they receive. Simple tax rule is needed - no state receives more in federal funds than they send - this would eliminate subsidizing states. It would also show how absurd the comments are saying high tax states are subsidized.
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It's about time the rest of the country doesn't have to subsidize the reckless spending of the liberals in the high tax states. Every one of them are bloated government states. That's the problem with socialism. It gets painful when you run out of other people's money. If we adopt these tax (steal from) the rich policies nationwide, don't you think the rich will find a safer place to park their wealth?