Every once in a while, long-hold views of the Democrats and Republicans genuinely shift. So it is with which party represents the rich. It used to be the Rs. It’s increasingly becoming the Ds, as shown by the D attempt to restore the SALT deduction.
wsj.com/articles/the-l…
wsj.com/articles/the-l…
Ds want rich people to get an unlimited deduction for all their state and local taxes paid, in addition to raising how much they can deduct for mortgages on expensive homes. Rs capped it at $10k in 2017.
Lower-income, blue-collar Americans are increasingly becoming Rs. Wealthy, college-educated people are increasingly becoming Ds.
Another way to look at it: People who can easily work from home amidst Covid can afford closing the country. People who must go to a job can not afford closing the country.
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