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Speaker 1: dot Com. Four liberal states, New York, Connecticut, New Jersey,
Speaker 1: and Maryland are suing the Trump administration are demanding more
Speaker 1: tax cuts. I kid you not. Now, in the old days,
Speaker 1: not that long ago, people could deduct their high state
Speaker 1: and local taxes on their federal tax forms, and it
Speaker 1: was an unlimited deduction. But the new tax law from
Speaker 1: Trump caps the deduction at ten thousand dollars. And many
Speaker 1: of these states pay way more than ten thousand dollars
Speaker 1: in local and state taxes. Now, these states, they are
Speaker 1: really mad that the Feds will not subsidize their high
Speaker 1: taxes anymore. The lawsuit claims that Trump's change will hurt
Speaker 1: property values and hurt job creation. Worse, it'll hurt state
Speaker 1: budgets because these taxpayers are gonna start paying attention to
Speaker 1: state spending, which they can't have that. And they're really
Speaker 1: really really mad because they say Republicans did all this
Speaker 1: on purpose to hurt Democrat run high tax states. Now legally,
Speaker 1: it's hard to see how they expect to win this one.
Speaker 1: The Feds make federal law except for immigration, well they
Speaker 1: make it, but everybody breaks it. So until they cut
Speaker 1: their own taxes, these liberals are going to be singing
Speaker 1: a blue state Blues for a long time to come.
Speaker 1: I guess it's what happens when the Russians medal in
Speaker 1: the elections.