Why should low-tax states subsidize high-tax havens through the tax code?
Just got done reading the recent letter by Stanley Cohen defending the federal tax deduction for state and local taxes. His skewed logic is a wonder to behold.
Mr. Cohen began by crying over those in states with local and state income taxes claiming that under the change they would be taxed on money they don’t see in their paychecks. The reason they don’t get that money is that they live in a city or state that is so fiscally irresponsible that they overtax so they can overspend.
Why in the world should the people in low-tax states be penalized by being forced to subsidize these tax-and-spend states? The logic would be the same if I bought the most expensive car on the market and claimed it would only be fair if someone in another state who drives a 5-year-old mini SUV helped pay for it.
If the people from the states with income taxes have a problem, it should be with their state and local politicians. They are the ones taking and spending without regard to the budgets of their citizens. Just like most politicians, they talk only about getting more money and never consider cutting taxes or spending.
I will not support another state’s financial idiocy.