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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: sandeep who wrote (19935)	8/18/2024 3:57:01 PM
From: Kirk ©	Read Replies (2) \| Respond to of 26455

No, I think they did it to raise revenue which is why tax collections WENT UP after the "tax cut" because for most in the high tax states, our tax rates and taxes collected at all income levels went UP because we lost SALT deductions and they put more limits on deductions for home mortgages which are very expensive in Blue states as we need high housing prices to generate high taxes for blue state programs. I was also against the federal govt not taking out state and local taxes + real estate taxes completely out of income before taxing federally. We need more ways of reducing the tax burden. Trump and republicans did it just to punish the coasts. Using your idea from earlier today, Democrats lie about what happened because the deficit went up because spending went up much faster under Biden than the taxes collected. You can't give hundreds of billions to people to not go to work or to forgive their loans and then blame federal income tax increases for the wealthy in blue states.