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Suddenly, Democrats Don’t Like Taxing the Rich

Posted by V the K at 9:11 am - December 18, 2017.
Filed under: Pork-Barrel Politics

There’s a reason Republicans have been able to move forward on taxes, but not Obamacare or border security. The Donor Class *wants* a tax cut, and have given permission for their pet senators to vote ‘Yes.’ Even “man of mighty principle” Sen. Bob Corker has gone from No to Yes… now that the new tax plan has a carve-out that will make him millions.

Democrats are not happy. Democrats are never happy, but ever since the election of PDT, they’ve been absolutely deranged; some of them are even starting to sound like Bill Kristol. 160-year-old California Senator Dianne Feinstein (net worth $80 Million dollars) complains that the Republican budget is too hard on the rich because of the mortgage interest deduction cap.

The Republican tax bill caps the mortgage interest deduction at $750,000 for new mortgages. In California, seven counties have average home prices that are more than $750,000: Alameda, Marin, Orange, San Francisco, San Mateo, Santa Clara and Santa Cruz counties. #GOPTaxScam

I have news for you honey… all of those counties vote solid Democrat. They *want* their taxes increased.

The Democrats are very angry that the tax plan caps the deduction for state and local taxes at a level that only benefits the middle class. In fact, the states with the highest state and local tax burdens are California, Connecticut, Illinois, Maryland, Massachusetts, Minnesota, New Jersey, New York, Oregon, Rhode Island, Vermont, and Wisconsin. Between them, these twelve states send exactly one Republican senator to Washington, all but one have gone Democrat in every presidential election since 1992. According to the Google machine, all of these states but Maryland and Wisconsin have recently raised taxes, and/or are planning on tax increases in the coming year.

What that tells me is, the people who live in these states want higher taxes. And the top income earners… Hollywood people, Silicon valley techies, New York hedge fund managers who live in Connecticut… give huge amounts of money to the Democrat party. They should be celebrating that their taxes are going up. Instead, some of these wealthy Democrats are apparently thinking of leaving. Lousy traitors.

Mine, personally, will be going down by about $3,200 according to this calculator. That’s enough to buy a new gimp suit for Thong, my Cambodian houseboy.



  1. Cambodian house boy? What, you mean the Brazilian boy from the favela didn’t work out?

    Sorry, couldn’t resist. 😉

    Peter H.

    Comment by Peter Hughes — December 18, 2017 @ 10:02 am - December 18, 2017

  2. Thanks for the handy calculator! i’ll be saving about $4k even in MA!! I don’t even want to hear from all the liberals that I know about paying more. The hypocrisy is getting old.

    Comment by Leslie — December 18, 2017 @ 2:34 pm - December 18, 2017

  3. So, does the mortgage interest cap apply to the principle amount of the mortgage? Or to annual interest costs?

    A house with a mortgage costing $750K/yr is one helluva house – even in Atherton CA. That would be a monthly payment north of $62K (lots more if you figure in principle, insurance, and property taxes).

    Apparently, left-coast lefties want *other* people to be more virtuous, tax wise.

    Comment by KCRob — December 18, 2017 @ 6:19 pm - December 18, 2017

  4. According to the calculator, I should be getting a $300 cut. Not bad for living in MN and being on a graduate student stipend!

    Comment by Belong — December 18, 2017 @ 8:18 pm - December 18, 2017

  5. That’s enough to buy a new gimp suit for Thong, my Cambodian houseboy.

    And they say trickle down economics never does…

    Comment by RSG — December 19, 2017 @ 12:02 am - December 19, 2017

  6. Did someone say, “…trickle?” Bwahhahhahhahhhah!

    Comment by Ted B. (Charging Rhino) — December 19, 2017 @ 2:34 am - December 19, 2017

  7. We get just shy of $500 in tax cuts.

    Comment by Just me — December 19, 2017 @ 4:19 pm - December 19, 2017

  8. Hi KCRob,
    I think you might be a bit off on the mortgage payment calculation. AT 4.75%–the average rate at the moment, the mortgage payment on $750000 is $3900 per month. $1,000,000 + for a house in SF is not exceptional, it is below market value…

    Comment by Cas — December 19, 2017 @ 11:08 pm - December 19, 2017

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