In blue states, 'tax the rich' isn't so simple anymore
On Tuesday New Jersey's new Democratic governor, Phil Murphy, broke sharply with President Trump and Congress on taxes. He used his first budget address to propose a hefty tax hike on millionaires.
In other high-tax states, Democratic politicians are emphasizing a different way to go anti-Trump. New York Gov. Andrew Cuomo, for example, is proposing workaround schemes so that upper-income residents won’t be hit so hard by one particular provision in the president’s tax-cut law – the cap on the amount of state or local taxes that can be deducted from federal returns.
Here are two Democratic leaders in two liberal states, and one is calling to tax the rich more while the other is worried about how to shelter those same taxpayers.
The two aren’t actually that far apart, but the apparent rift is noteworthy. It
High tax anxietyMarginal impact?Tax hit for lower incomes
