Did you know that last year, Americans paid more taxes to the federal government than ever before?
Two reasons: the robust economy meant workers were making more money. And the Trump tax reform law eliminated deductions for state and local taxes above $10,000. That means people like me have to fork over more federal income tax, because we can’t write off what we pay to the state, which, in liberal places like New York and California, is a lot.
So, it was shocking to see that the new Nancy Pelosi pandemic relief bill, which passed the House on Friday, calls for eliminating the $10,000 ceiling, thus putting more money in the pockets of the affluent.
Bernie Sanders, who pays property taxes on three homes, has not said a word.
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