“Tax the RICH!  Make them PAY!  The RICH don’t pay for enough!  Wealth redistribution!”  The cries of the PUSSY-NATION.  They are also screaming, “Keep the tax breaks for the wealthy!”  Whaaaat?

There is one part of the proposed tax plan that WACKY-LIBS and Republicans, who represent those who live in the deep blue states, are all upset over. This is the deduction of state and local taxes or SALT as some call it.  Which group of citizens does this deduction benefit the most?  Why the wealthiest of course.

Why does President Trump want this in the tax plan?  Because he says, and he is correct, that it is the FAIR thing to do.  President Trump has a mantra of “Everyone should pay their fair share“.  Look what he demanded of the United Nations.  And some of the free-loader countries listened and started paying their share.

Eliminating the SALT deduction from income used to calculate federal income tax  is getting the most push back from the Democrat controlled People’s Republik of Kalifornia, New York, New Jersey, and Massachusetts, where taxes are stifling because of all the expensive real estate and taxes to fund all of the massive freebie give-away programs. Who pays the most taxes in these most liberal of liberal states? That would be the uber rich liberals in their giant expensive mansion, the tech billionaires, and especially the real estate moguls. You know people like Donald Trump.  If you are a liberal and against the tax plan, you are for keeping the tax break in Donald Trump’s personal fortune.  Awesome.

Let’s take a look at  what the SALT deduction means to the “AVERAGE” American and how FAIR it is.

The marginal income tax in the PRK can be as high as 13.3%. In Wyoming there is no state income tax but local taxes can be up to 1%. Property tax in the PRK is 1% of assessed value. Wyoming it’s 0.62%. The median home price in the PRK is $400,000 so the property tax is $4000. The median home price in Wyoming is $200,000 and that resident pays $1240 in property tax. For comparison, let’s say each makes person earns $100,000 in income. The PRK guy pays over $6000 in state income tax. The Wyoming cowboy has NO state income tax at that level of earning.  Totaling the property and state income taxes for each person is as follows:

Mr. PRK,  $6000 state income tax + $4000 property tax = $10,000 deduction

Cowboy,  $0.00 state income tax + $1240 property tax = $1240 deduction

What do these numbers mean to the IRS?

The PRK liberal adjusts his FEDERAL taxable income DOWN by $10,000. The Wyoming cowboy only get to reduce his tax liability down by $1240. The wealthy PRK resident’s taxable income is $8760 LESS than the cowboy as far as the IRS is concerned. If we look up his federal taxes, Mr. PRK owes $15,547 at a tax rate of 17.27%. The schmuck cowboy on the other hand pays $18,047 at the higher income bracket of 18.05% (remember because he only can deduct $1240 that puts him into a higher tax bracket), all because his state is fiscally more conservative and housing is less expensive.

The Mr. Liberal PRK guy contributes $2500  LESS to the pool of money required to run the FEDERAL government than the cowboy up North even though they both make IDENTICAL SALARIES! Does that sound fair to you?  Seems pretty fair to me.

Libtards helping out the wealthier folks.  Woohoo!!!

The pushback is because of personal greed.  No one seems to care about fairness in taxation.  Republican Peter King of wealthy Long Island, New York and all the other congressmen from his state have been screaming that New Yorkers are only getting back 69% of what they pay in to the Federal government.  Wait a sec, there congressmen.  We pay federal taxes to run the COUNTRY.  It doesn’t work that you give money to federal government and then they just give it right back. WE pay federal taxes to collectively do things such as fund the military, build infrastructure, do the big things that benefit the COUNTRY.  We are all in this together.  It’s not every man for himself.  The left and blue state Republicans should think about what John F. Kennedy said in his inaugural address, “Ask not what your country can do for you, ask what you can do for your country”.

Now as a landed individual, here behind enemy lines in the PRK, I have been benefiting from the deduction. I want to thank my liberal friends for defending my tax breaks! Thank you , thank you.