WEBVTT - Rush Limbaugh July 20h 2018

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<v Speaker 1>Four liberal states, New York, Connecticut, New Jersey, and Maryland

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<v Speaker 1>are suing the Trump administration are demanding more tax cuts.

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<v Speaker 1>I kid you not. Now, in the old days, not

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<v Speaker 1>that long ago, people could deduct their high state and

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<v Speaker 1>local taxes on their federal tax forms, and it was

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<v Speaker 1>an unlimited deduction. But the new tax law from Trump

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<v Speaker 1>caps the deduction at ten thousand dollars. And many of

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<v Speaker 1>these states pay way more than ten thousand dollars in

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<v Speaker 1>local and state taxes. Now, these states, they are really

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<v Speaker 1>mad that the Feds will not subsidize their high taxes anymore.

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<v Speaker 1>The lawsuit claims that Trump's change will hurt property values

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<v Speaker 1>and hurt job creation. Worse, it'll hurt state budgets because

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<v Speaker 1>these taxpayers are gonna start paying attention to state spending,

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<v Speaker 1>which they can't have that. And they're really, really, really

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<v Speaker 1>mad because they say Republicans did all this on purpose

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<v Speaker 1>to hurt Democrat run high tax states. Now, legally, it's

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<v Speaker 1>hard to see how they expect to win this. The

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<v Speaker 1>Feds make federal law except for immigration, well, they make it,

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<v Speaker 1>but everybody breaks it. So until they cut their own taxes,

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<v Speaker 1>these liberals are going to be singing a blue state

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<v Speaker 1>blues for a long time to come. I guess it's

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<v Speaker 1>what happens when the Russians medal in the elections.