Analysis: Federal tax overhaul increased taxes on wealthy in many blue states
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Analysis: Federal tax overhaul increased taxes on wealthy in many blue states, cut for most in middle class
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Federal tax overhaul increased taxes on wealthy in many blue states: Analysis by Cole Lauterbach, The Center Square | December 30, 2020 09:30 AM Print this article
The 2017 Tax Cuts and Jobs Act, harpooned by progressive Democrats as a handout to wealthy corporations, turned out to be more progressive in practice, new data from the federal government revealed.
The federal tax reform measure supported by President Donald Trump increased taxes on some wealthy property owners in high-tax jurisdictions such as Illinois and New Jersey and decreased tax burdens on the middle class.
Internal Revenue Service data released in December, analyzed by the National Taxpayers Union Foundation and Wirepoints, show the federal tax overhaul that took effect in 2018 didn’t necessarily become the tax break for the wealthy as it was criticized as.
Massachusetts Taxes New Hampshire Residents; New Hampshire Goes to Supreme Court
Backed by 14 other states, New Hampshire is suing Massachusetts because the Bay State is taxing New Hampshire residents who work remotely in their home state for employers located in Massachusetts, a practice that New Hampshire says is unlawful.
“Massachusetts’ current position is a far cry from our country’s rallying call of ‘no taxation without representation,’ which they seem to have forgotten originated in their state,” Gov. Chris Sununu, a Republican, said in a statement Dec. 23.
“We remain confident that the Supreme Court of the United States will take up this case of national importance and that the State of New Hampshire will prevail.”