October 15, 2017
Tax Amnesia and How to Fix It
By Gary Gindler
Trump's tax plan was enthusiastically accepted by the Republicans and got rejected by the Democrats. No surprises; the tug of the tax rope is a favorite public activity in Washington.
Trump's plan is a financial knockdown for states such as California, New York, and New Jersey. These states have a traditional Democrat majority, and consequently, these states have the highest tax rates in the U.S. According to Trump's plan, the payment of these taxes will not be considered when calculating federal taxes. Americans will have to pay taxes to the states in addition to, not instead of, the federal tax. This will hit hardest, of course, in the states with the highest taxes.
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http://www.americanthinker.com/articles/2017/10/tax_amnesia_and_how_to_fix_it.html
