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Speaker 1: Last Friday, the Washington Post ran an ominous headline of
Speaker 1: Republicans are gonna be raising taxes on some Americans and
Speaker 1: that there will be a backlash. Now, first of all,
Speaker 1: the Post tax bill isn't the final version, a lot's
Speaker 1: gonna inevitably change. But what really bugs the Washington Post
Speaker 1: is the proposal to eliminate deductions for state income taxes.
Speaker 1: If you live in an expensive blue city like New York,
Speaker 1: San Francisco, Los Angeles, and your state has super high
Speaker 1: income taxes like New York and California, do well, this
Speaker 1: could impact you. The Washington Post gives some examples. Take
Speaker 1: a California resident who makes a hundred thousand dollars a year,
Speaker 1: Their state tax alone would come in at sixth grand
Speaker 1: and it would no longer be deductible. Somebody who makes
Speaker 1: a hundred fifty thousand lives in San Francisco or Los
Speaker 1: Angeles can expect to pay over ten thousand dollars a
Speaker 1: year in state taxes no longer deductible. Yes, so some
Speaker 1: people be upset, But the Washington Post never raises some
Speaker 1: important questions. One, why are your state taxes so high?
Speaker 1: And too, why do you keep voting for people who
Speaker 1: keep raising your taxes? Finally, why should people in low
Speaker 1: tax states or with no state tax deductions subsidize people
Speaker 1: in high tech states? As for backlash, California, New York
Speaker 1: don't vote Republican anyway, so the supposed anti Republican backlash
Speaker 1: might not be as ominous as the Washington Post hopes.
Speaker 1: In fact, it probably be some applause for it. Yes,