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| Bedlam — Once London’s Lunatic Asylum |
SALT — no, not Strategic Arms Limitation Treaty ... this time it is State And Local Taxes deductions on federal taxes. Nancy Pelosi, in her press conference, said that the House would pass today a repeal of Trump’s tax reform that puts a $10,000 limitation of state and local tax deductions on federal tax calculations. And the revenue that our treasury loses there from would be made up by increasing taxes on the wealthy.
Now, dear reader, do you see the lunacy of this proposal? The SALT deduction limitation on federal taxes ALREADY increases taxes on the wealthy because they are the ones who are now paying large state and local taxes ... the excess over $10k they lose as a federal deduction.
So, in essence, Pelosi is saying that her children, the House Dems, are going to be reducing taxes on the rich ... and pay for it by increasing taxes on the rich!
This lunacy seems typical of today’s House impeachment Bedlam ...
