Bernie’s SALT in Biden’s wounds

May 18, 2021 | The Wall Street Journal

Op-ed by William McGurn, includes “A tax deduction for the rich puts the Vermont socialist on the side of the angels … Mr. Sanders rightly appreciates that the SALT deduction is a big fat tax break for rich people, even if the rich people in question happen to live mostly in blue states. … Republicans, meanwhile, oppose the SALT break.”

New York, New Jersey, California face long odds in scrapping SALT

May 18, 2021 | The Hill

By Alexander Bolton, includes “Senate Majority Leader Charles Schumer (D-N.Y.) and Speaker Nancy Pelosi (D-Calif.) face an uphill battle on one of their top tax priorities, repealing the cap President Trump put on deducting state and local taxes. ”

If we reinstate SALT, we can deliver real help to New Jersey and New York families

May 18, 2021 | North

Op-ed by U.S. Representative Josh Gottheimer (NJ), includes “The usual set of naysayers are trying to undermine our effort to reinstate the state and local tax deduction — known as SALT — by claiming it’s just a giveaway to the wealthiest Americans. But anyone who actually lives here in Jersey knows that the $10,000 SALT cap imposed by the Red States back in 2017 hit scores of middle class families hard — who are already struggling with high costs.”

Rich Democratic lawmakers stand to benefit from the SALT tax cuts

May 18, 2021 | Jacobin Magazine

By Emma Rindlisbacher, includes “Democrats are threatening to hold up President Joe Biden’s signature infrastructure plan, which relies heavily on tax increases, in the hopes that Biden will eliminate the cap on the state and local tax (SALT) deduction.”

Utah named state with best economic outlook for 14th year in a row

May 18, 2021 | Utah Business

Includes “Senate President J. Stuart Adams issued the following statement … ‘Utah’s strong economy is a result of smart, conservative economic tax policy. For the 14th year in a row, Utah secured the top ranking for economic outlook in ALEC’s Rich States, Poor States, validating the hard work and dedication of former and current lawmakers.”

Rich States, Poor States 14th Edition

May 18, 2021 | American Legislative Exchange Council

By Jonathan Williams, Arthur Laffer and Stephen Moore, includes “The new edition finds that even through the pandemic, states with policies such as low or no income taxes and worker freedom are more economically competitive and better positioned for wage growth, job creation and domestic in-migration compared to states with higher taxes and government spending.”

New Jersey residents will pay most in taxes over a lifetime

May 18, 2021 | Bloomberg

By Laura Davison, includes “Residents of New Jersey, Massachusetts and Connecticut will face the highest tax burdens over a lifetime, according to a new study.”

Life of tax: What Americans will pay in taxes over a lifetime

May 18, 2021 | Self

Includes “The US government collects over $5.3 trillion in taxes each year, but how much will the average American pay in taxes throughout their lifetime? … It’s a lot. We’ve analyzed this data specific to each state so you can see what you may be giving to your local government in taxes across your entire life..” 

Sanders vows tougher oversight of defense contractors as Budget Committee chairman

May 18, 2021 | The Hill

By Tal Axelrod, includes “At a budget hearing titled ‘Waste, Fraud, Cost Overruns, and Auditing at the Pentagon,’ the vocal progressive noted that the Department of Defense’s (DOD) budget of about $740 billion is the largest in the government and suggested those funds could hinder progress on an array of other issues. ”

Continued financing of government debt by the Bank of Canada poses significant economic risks

May 18, 2021 | Fraser Institute (Canada)

Includes “The idea that the Bank of Canada can continue to finance government debt by printing money without a clear commitment to repayment, known as Modern Monetary Theory (MMT), poses enormous risks to the Canadian economy, finds a new study released today by the Fraser Institute, an independent, non-partisan, Canadian public policy think-tank. ”

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