Because of the deductablity of state and local taxes, when itemizing (which people of means generally do as they can almost always find more than the standard deduction in write offs) tax increases in state taxes and local taxes while annoying were not prohibitive for people living in high tax states. … …they knew they could mitigate the effects for the rich who would be getting the biggest hit because that 2% tax which would became 9% along with those high property taxes they were already paying, would come right off their federal taxes. | Keep Reading at DaTechGuyBlog
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