Posted on 07/18/2018 7:12:24 AM PDT by Hojczyk
To be fair, its not just New York that thinks their wealthiest taxpayers have a constitutional right to get reimbursed for the states high tax rates. Connecticut, New Jersey, and Maryland have joined the lawsuit filed by Andrew Cuomo and AG Barbara Underwood, announced yesterday morning. They want to undo the $10,000 cap on deductions for state and local taxes passed as part of the tax-reform bill in December, claiming that limiting such reimbursements violates the Constitution.
New Yorks sovereignty is precisely the solution for this issue. Cuomo and the New York legislature can simply change their tax code to save their citizens the extra cost, which originates from the state of New York and not from Congress. They want the money without the political headache, and they want the federal judiciary to rescue them from the consequences of their high-tax policies.
This is just a threadbare attempt to shift the blame for those tax policies, and its doomed to failure. But it does raise the question, as Twitchy notes: Why are Democrats trying to get a tax cut for the rich?
(Excerpt) Read more at hotair.com ...
Is manufacturing Aircraft Carriers pork?
Yes, I am sure there was more too it than I could say in one sentence. It does not change the thrust of my post
You make another good point- why aren’t we allowed to deduct Fed from State too.
But as I said, whenever I've made this point lots of people will come and say its not pork, their state needs it, whatever. All the pork is always somewhere else and all that extra infusion of FedGov cash is going to national defense.
Where in the Constitution is the right to deduct State income taxes on your federal tax? I would like to see it?
Everybody is probably only getting back 50 cents on the dollar after the DC crooks and government workers take there cut..
I think the only road money is for the interstates..
For an entertaining look at the problem from the finance side, see "The Big Short". It's a work of fiction based on real events and nicely explains what happened in 2007/2008.
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