Rush Limbaugh July 20h 2018 - podcast episode cover

Rush Limbaugh July 20h 2018

Jul 20, 20181 min
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Episode description

Four states are suing the Trump administration because of the new tax law that puts a $10,000.00 cap on local and state tax deductions. The states claim that the cap hurts job creation and property values.

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Transcript

Speaker 1

Four liberal states, New York, Connecticut, New Jersey, and Maryland are suing the Trump administration are demanding more tax cuts. I kid you not. Now, in the old days, not that long ago, people could deduct their high state and local taxes on their federal tax forms, and it was an unlimited deduction. But the new tax law from Trump caps the deduction at ten thousand dollars. And many of these states pay way more than ten thousand dollars in

local and state taxes. Now, these states, they are really mad that the Feds will not subsidize their high taxes anymore. The lawsuit claims that Trump's change will hurt property values and hurt job creation. Worse, it'll hurt state budgets because these taxpayers are gonna start paying attention to state spending, which they can't have that. And they're really, really, really mad because they say Republicans did all this on purpose to hurt Democrat run high tax states. Now, legally, it's

hard to see how they expect to win this. The Feds make federal law except for immigration, well, they make it, but everybody breaks it. So until they cut their own taxes, these liberals are going to be singing a blue state blues for a long time to come. I guess it's what happens when the Russians medal in the elections.

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