Dems financing "infrastructure" bill with $500 billion tax break for the rich


Well-Known Member
Jan 2, 2018
I had no idea that $500 billion of the cost of Biden's bill was the repeal of the Trump limitations on the deduction of state and local taxes on federal income tax returns. A poster on another board with a Ph.d and good knowledge of statistics put it this way:

"What is the biggest cost to the US Treasury in the Democrat’s reconciliation package? Nation-wide pre-school? No. Endless green boondoggles? No. $3,600 cash payments per child to parents? No.
The biggest cost in the bill is that state and local tax deductions from Federal taxes are being 100% restored for people in high tax states (that is, no longer limited to $10,000). This will cost the Treasury $500 billion over 5 years, with over 60% of those costs benefiting the top 1% of all taxpayers. The benefit to the average middle class taxpayer? Near zero. The states that will reap most of the benefits: New York, New Jersey, California, Massachusetts and a handful of others… all states that reliably support Democrats. (Just coincidence for sure.)"

Further proof that the Dems are dominated by wealthy who are robbing the middle class to enrich themselves. Particularly disreputable when you consider that one of the proposals purportedly to reduce the cost of the programs was a rule that would have adopted Chinese communist tactics and required banks to report all bank accounts with more than $600 in them. How comforting to know that Dems want to give clerks and political big shots, the opportunity to spy on anyone, including their political opponents with a couple of clicks on a keyboard.
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