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by dragonwriter
3119 days ago
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> Say what you want about the tax bill on net, the elimination of the SALT deduction is very good for the country. No, it's very bad. > There is zero reason for the Feds to subsidize and distort incentivize to encourage states to increase their tax burdens. That seems like a reasonable position, but SALT doesn't do that; quite the opposite, it keeps federal taxation neutral in terms of incentives for state and local taxes. Not deducting state and local taxes distorts incentives by creating a federal tax disincentive to state/local tax-funded programs that produce a net economic gain. I've written up a simplified scenario illustrating this in a recent prior discussion on HN: https://news.ycombinator.com/item?id=15855955 |
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