07 September 20
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FOCUS: The Tax Cut for the Rich That Democrats Love
Richard V. Reeves and Christopher Pulliam, The New York Times
Excerpt: "Why are party leaders fighting to get rid of one surprisingly progressive element of the 2017 tax bill?"
oe Biden tells us he is intent on winning in November “for the workers who keep this country going, not just the privileged few at the top.”
The election is a referendum not only on the moral failings of President Trump, Democrats argue, but on the economic fissures of the new economy. It is a fight, Mr. Biden says, on behalf of “the young people who have known only an America of rising inequity and shrinking opportunity.”
Why on earth, then, are Democrats fighting — and fighting hard — for a $137 billion tax cut for the richest Americans? Mr. Biden, Nancy Pelosi and Charles Schumer don’t agree on everything, but on this specific issue they speak with one voice: the $10,000 cap on deductions for state and local tax (better known as the SALT deduction) must go.
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