Wealthy blue-state foes of the Republican tax reform bill need to take a harsh look in the mirror.
California governor Jerry Brown has labeled the tax bill “evil in the extreme.”
According to socialist Bernie Sanders, the proposal is “one of the greatest robberies in American history,” and promotes “class warfare.”
House minority leader Nancy Pelosi likens the tax package to “Armageddon.”
Why the grim doomsday descriptions?
They aren’t surprising when you consider that California is bursting with people who earn $200,000 per year or more….and pay high state-level income taxes, with a top marginal rate of 13.3 percent.
In the “good old days,” Californians could count on deducting these obscene taxes from their federal taxable income, masking the state’s theft and blunting the financial pain.
The GOP tax bill takes away what is basically a federal subsidy, forcing blue-state taxpayers to face the reality of their high-tax, high-spending state legislatures.
California has been soaking its upper middle class for many years. The upcoming federal tax restructuring will make this reality painfully obvious.
Meanwhile, Andrew Cuomo, governor of New York, claims the GOP tax bill will “rape and pillage” his state. He actually said this!
Perhaps that may appear to be the case once New Yorkers realize that they are being pillaged by their own state income tax and move out of state in retaliation. After all, true tax pillaging begins at home…
Texas, which has no state income tax, has gained 1.3 million new residents from other states over the past 10 years.
During the same time period, Illinois and New York have lost more than 2 million residents.
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