alt Hacker News> punishes married couples filing jointly: a couple making about $300K each
The number of married couples where each partner is making $300K each is a very, very small percentage of the population. Not sure this is a big deal to be concerned about in the grand scheme of things. For instance, only a few %age of households have an income over 300K in the first place, much less coming from 2 earners of that amount.
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airstrike • today at 7:21 PM
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rexpop • today at 5:34 PM
But isn't that an undue burden on "job creators" with proportionately far-reaching downstream economic consequences?
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It might be a few people nationwide, but it's a whole lot of families in the Bay Area, New York, Los Angeles, and a few other major cities.
The law was specifically designed to punish these people. Remember, at first they wanted to drop the SALT deduction completely to punish blue states.
Edit: It seems that people are assuming I'm against removing the SALT deduction. Far from it. I am glad they got it done despite being a political third rail for a long time. And despite being a huge beneficiary of the SALT deductions myself.
I don't think people choosing to live in high tax states should get to save on their federal income taxes.