Quote:Pelosi pushes 'SALT shakeup' stimulus that would reduce her tax bill and enrich her wealthy district
Just days after taking heat for successfully demanding $25 million in stimulus funds for the John F. Kennedy Center for the Performing Arts in Washington, D.C., Pelosi specifically declared this week that it might be wise to “retroactively undo SALT,” which was enacted as part of the 2017 tax cuts and prevents households from deducting more than $10,000 per year of their state and local tax expenditures from federal tax bills.
Pelosi and her husband have a property tax liability of approximately $198,337.62 considering their two homes, a winery and two commercial properties, public records show, indicating that the couple could reap benefits on roughly $188,000 given a full SALT repeal.
Pelosi's 2020 property taxes in Washington, D.C. totaled $13,997.20 given her Georgetown condo and garage, valued at $1,646,730. Her San Francisco property taxes totaled $51,480.02, plus $47,631.98 from her Napa winery, $64,874.66 from a San Francisco commercial property, and $20,353.76 for another building.
Roughly 13 million households nationally would benefit from slashing SALT, with the vast majority of them earning six-figure incomes and located in New York and California, The New York Times reported this week.
A Pelosi spokesperson said that a SALT drawdown would be “tailored to focus on middle-class earners....
California's 12th congressional district, which Pelosi represents, is among the wealthiest in the U.S., with a median income of $113,919, according to census data. The average household income is $168,456 -- meaning most residents would benefit from any significant cut to SALT.
The government would lose out on $77.4 billion in tax dollars.
"Retroactively," eh? That means Nancy would have a big-ass check coming from prior taxes paid.
Greedy little Nancy, who is worth hundreds of millions, don't wanna lose a nickel of HER tax breaks, eh?
Quote:A Pelosi spokesperson said that a SALT drawdown would be “tailored to focus on middle-class earners....
Yeah, right, eh?
$188,000 in deductions for Nancy her own damn self. At least we aint talkin no "crumbs" for poor folk here.
Quote:The Wall Street Journal editorial board wrote Tuesday. "When Democrats next complain that Republicans want to cut taxes 'for the rich,' remember that Mrs. Pelosi wants to cut them too—but mainly for the progressive rich in Democratic states."
And she has the gall to characterize this as a "stimulus." What a phony.