Democrats are mulling even more tax breaks for the wealthy, including repealing the limits on state and local tax (SALT) deductions. Proponents claim this would help the “middle class.” In reality, because of the way this provision interacts with other parts of the tax code, households making $1 million or more a year would receive half the benefit, according to the Tax Policy Center; 70 percent of the benefit would go to households making $500,000 or more. Of course, those high-income households are disproportionately in Democratic states.

Source: Washington Post September 16, 2021 22:40 UTC