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comment by kleinbl00
kleinbl00  ·  2527 days ago  ·  link  ·    ·  parent  ·  post: White House Proposes Slashing Tax Rates for Individuals and Businesses

It's like the estate tax: it impacts only super-rich people but ZOMG you guise I'ma strike it rich any day now and when I do the gummint ain't gonna take my success away from my young'uns!

Here's the awesome one:

    "There is no doubt that if you are a New York or California resident, your largest deduction, by a factor that could be as high as 10, is the state and local income tax," said tax expert Robert Willens, of New York-based Robert Willens LLC. "Historically a high-state tax was mitigated by the fact that you were able to deduct it, so it was really costing you 60 percent or 65 percent of what you were paying to the state."

It's almost as if they were looking for a way to punish Democrats.