...and oh, look, here's Exhibit B:
The loss of SALT deductions hurt a huge amount of middle class and upper-class families in New Jersey and New York, not billionaires.
If you're a Democrat who thinks that the most important issue with our extremely regressive federal taxes is how it affects people who make well over six figures in any part of the country, you are a part of the problem described in this thread.
The median household in come in New York City is closer to $50k, and fewer than one third of residents are homeowners. Let's stop pretending that the concerns of people in the $150-$300k income bracket in any way resemble those of the average person, or even in the average voter.
It's a shame actually, because if Democrats would just stop saying they are going to restore the SALT to its former glory, they could make it easier for themselves in the future when passing high-cost policy like some sort of worthwhile healthcare reform (M4A, etc). Republicans have already taken the fall for that particular tax increase, and all Democrats have to do is leave it be.
It doesn't really make sense to campaign on high-cost policies while fashioning yourself as those willing to stick it to the rich, only to then campaign on returning favorable tax deductions to upper crust districts. No sense at all, and strategically moronic.
There in lies the issue though. Capping SALT didnt just hurt wealthy New Yorkers. It hurt middle class people living in high property tax areas.
