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Reply to "Trump flip flops on SALT Tax Deduction"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I see no logic to the SALT deduction. Why should some one get to pay less federal taxes because they elect to live in a high local tax jurisdiction? It encourages wasteful spending and high taxes at the local level. [/quote] If your state contributes more to the federal government than it receives—even after factoring in the SALT deduction—then why not allow the SALT deduction? But also, why stop at SALT? Should we also eliminate the mortgage interest deduction? Why should people who can’t afford to buy a home subsidize those who can? I believe this issue could be addressed by applying income limits to the SALT deduction.[/quote] Most people don't itemize and thus no longer get the mortgage interest deduction.[/quote] They are not itemizing because of the SALT reform done in 2017.[/quote]
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