Gottheimer (inadvertently?) admits it: Repealing the SALT cap would mostly help the rich

Gottheimer (inadvertently?) admits it: Repealing the SALT cap would mostly help the rich

By Matt Rooney

We’re glad that Rep. Josh Gottheimer (D, NJ-05) could take a brief break from impeachment to demonstrate his penchant for hypocrisy, Save Jerseyans.

On Thursday, he released a chart which he says makes the case for his “Restoring Tax Fairness for States and Localities Act” (H.R.5377). He might want to take it back?

“I’m releasing this tax cut model to show the massive tax cut North Jersey families — at every income level — will receive from the bipartisan SALT cap repeal plan that the House is voting on today,” Gottheimer said in his press release.

What the chart (see below) really shows is something a bit different: despite Democrats’ constant bellyaching about the poor/how Republicans love billionaires/ etc. and so on, repealing the SALT cap would predominantly help the wealthy…

Remember: New Jersey Democrats have been complaining endlessly since the GOP tax reform package cleared Congress about the Middle Class SALT apocalypse which, as it turned out, was pure fiction.

Look at Gottheimer’s chart! A young married couple earning $50,000 a piece would get back enough to buy a Playstation 4 and a couple of games to go along with it. Hooray.

A $2 million household would recoup enough to buy a high-end luxury car.

Not very populist of you, Josh!

The way to help N.J. Middle Class taxpayers is cutting state taxes and state spending. Tinkering with the SALT cap is band aid at best. At worst? It remains a convenient scapegoat for New Jersey Democrats who don’t want to make tough fiscal decisions.