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house Bill H.R. 1142

Should the SALT Deduction Be Restored & Paid for By Raising the Top Income Tax Bracket?

Argument in favor

The state and local tax (SALT) deduction is an important source of tax relief for residents of high-tax states, such as New Jersey. The SALT deduction cap hurts the middle class in high-tax states, and should be restored to ensure that families living in high-tax states aren’t punished for where they live.

FredM's Opinion
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10/12/2019
Restore a true progressive tax rate table. The trickle down tax policies started by Reagan and double downed on by Dubya and now Trump have only lead to huge budget deficits and the growth in income inequality.
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jimK's Opinion
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10/13/2019
First of all, different areas collect taxes on their population in different ways. For example, I moved from a state that had higher state Income tax as well as a higher regional sales tax rate. I moved to another state with lower state taxes and no locally augmented sales tax rates thinking it would be better. So, I thought; I didn’t count on a county income tax assessment and car-value based licensure fee- which pretty much eliminated the difference. The point is that a one size-fits-all SALT caps cannot be fair because taxes are raised in different ways in different places: by a combination of income taxes, consumption taxes (sales taxes on store bought items, gasoline, rent surcharges etc), and personal property taxes- all of which is fairly difficult to sort out and fully account for. Also, some places have higher state and local taxes overall. So, simply based on fair and equal treatment of federal taxpayers, the SALT tax deduction credit cap is basically unfair. The best thing is to eliminate it altogether since the job of trying to make it adjustably equitable does not seem worth the effort. And yes, the federal tax rates on higher incomes should at least be restored at lest to what they were before the Republican roll-back on wealthiest taxes. The income gap between average earners and the wealthiest earners has grown rapidly due principally to the large reduction in wealthiest tax rates enacted by the Republicans and initially paid for by a trillion dollar increase in the deficit- and which will have to be paid for by increased taxes on the non-permanent tax rate cuts that everyone except the wealthiest (whose rate cuts were enacted to be permanent) will be required to pay.
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Dawn's Opinion
···
10/12/2019
Restore a true progressive tax rate table. The trickle down tax policies started by Reagan and double downed on by Dubya and now Trump have only lead to huge budget deficits and the growth in income inequality.
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Argument opposed

The SALT deduction primarily benefits those who are upper middle class or better and isn’t a major factor for most middle class families, most of whom don’t itemize their tax returns (and therefore can’t claim the SALT deduction). Eliminating the SALT deduction cap increases the deficit to help the rich.

JTJ's Opinion
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10/13/2019
Don’t look to the rest of the country to subsidize you, stop voting for democrats who are taxing the crap out of you. And stop blaming the rich, you are all brainwashed marxists.
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Caren's Opinion
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10/12/2019
No because it means the middle class will get saddled with this. Democrats want to financially devastate the American people.
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Sean's Opinion
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10/13/2019
No! Why punish someone for being rich? It’s not the governments job to tell us how much we’re limited to. You work hard, over come life challenges and hurdles and stick towards your goal you’ll be successful. This is unfair to those who tried. Stop with the excuses for those who didn’t. These places suffering from the change in SALT are the same liberal places that have gone to shit. Vote responsibly!
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    Restore a true progressive tax rate table. The trickle down tax policies started by Reagan and double downed on by Dubya and now Trump have only lead to huge budget deficits and the growth in income inequality.
    Like (152)
    Follow
    Share
    Don’t look to the rest of the country to subsidize you, stop voting for democrats who are taxing the crap out of you. And stop blaming the rich, you are all brainwashed marxists.
    Like (38)
    Follow
    Share
    First of all, different areas collect taxes on their population in different ways. For example, I moved from a state that had higher state Income tax as well as a higher regional sales tax rate. I moved to another state with lower state taxes and no locally augmented sales tax rates thinking it would be better. So, I thought; I didn’t count on a county income tax assessment and car-value based licensure fee- which pretty much eliminated the difference. The point is that a one size-fits-all SALT caps cannot be fair because taxes are raised in different ways in different places: by a combination of income taxes, consumption taxes (sales taxes on store bought items, gasoline, rent surcharges etc), and personal property taxes- all of which is fairly difficult to sort out and fully account for. Also, some places have higher state and local taxes overall. So, simply based on fair and equal treatment of federal taxpayers, the SALT tax deduction credit cap is basically unfair. The best thing is to eliminate it altogether since the job of trying to make it adjustably equitable does not seem worth the effort. And yes, the federal tax rates on higher incomes should at least be restored at lest to what they were before the Republican roll-back on wealthiest taxes. The income gap between average earners and the wealthiest earners has grown rapidly due principally to the large reduction in wealthiest tax rates enacted by the Republicans and initially paid for by a trillion dollar increase in the deficit- and which will have to be paid for by increased taxes on the non-permanent tax rate cuts that everyone except the wealthiest (whose rate cuts were enacted to be permanent) will be required to pay.
    Like (73)
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    Restore a true progressive tax rate table. The trickle down tax policies started by Reagan and double downed on by Dubya and now Trump have only lead to huge budget deficits and the growth in income inequality.
    Like (45)
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    No because it means the middle class will get saddled with this. Democrats want to financially devastate the American people.
    Like (31)
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    Restore fair taxing and remove regressive tax brackets!
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    The trickle down is a farce. Rich people getting richer. Poor people getting poorer. The middle class is being killed by his tax policy.The only thing that trickles down is 💩 because 💩 won’t run uphill. Tax the rich. They can afford it. Trump has created a Ponzi scheme.
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    A middle class is a good thing.
    Like (23)
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    No! Why punish someone for being rich? It’s not the governments job to tell us how much we’re limited to. You work hard, over come life challenges and hurdles and stick towards your goal you’ll be successful. This is unfair to those who tried. Stop with the excuses for those who didn’t. These places suffering from the change in SALT are the same liberal places that have gone to shit. Vote responsibly!
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    Terry the genius talks about “perks for the few.” The removal of the SALT tax is killing me. A hard-working middle class man about to hit 40. Meanwhile, the new tax code lets billionaires keep more billions. What a moronic statement to let the world see.
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    What they are really asking is: should wealthy Americans support the overspending of CA and NY? Even if they live in one of the 48 other states.
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    It is time that those in the top tax bracket pay their share. Restore the SALT act.
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    Those in the top income bracket certainly need to be charged at a higher rate than the gift that the GOP gifted them!
    Like (14)
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    Yes, it’s a start, but not far enough.
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    SALT limit is finger in the eye to states that already send more $ to DC than they get.
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    We need a tax structure that helps the most people. The top earners should pay more and passive wealth should be aggressively taxed.
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    Without the SALT tax relief, living in a state with a high income tax (such as CA or NY or NJ) amounts to double taxation on some income. While a progressive tax is fine, a double income tax on the same income is criminal.
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    Yes, but there’s much more to improve as well as this. We need to tax the hell out of the rich to help the middle class. America is in deep debt, and the only places that the money should be coming from are taxes on the top 1% and cuts to the overblown military budget.
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    There’s is no valid argument to requiring the federal government to essentially pay state taxes. SALT is simply a tool democrats use to hide their high local tax rate from voters.
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    Not only restore the SALT deduction, let’s repeal the Tax Cut and Jobs Act completely, going back to the pre-Trump tax system, while making changes to it - things like closing loopholes (primarily benefits the richest Americans), increasing the tax rate that of the top earners and instituting a better child tax credit (like the one we have today). It was obvious the current tax cuts are mostly benefiting the richest Americans. Let’s have a tax system that benefits everyone - that taxes higher earners at higher rates and lower earners at lower rates, yet provides the treasury with enough $ to run government programs (including so called ‘entitlement’ programs like social security, which are an entitlement because we paid into it).
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