Thursday, December 21, 2017

Not Quite Rich Enough

One "good" thing about likely media coverage of the tax bill going forward (and some of it now) is that our media loves to talk about the lifestyles of the "not quite rich enough." You know, living in New York on "only" $400,000 per year. That kind of thing. That's because they're talking about themselves and their friends.

The tax bill is not good for a lot of these people (details vary, blahblah, a full analysis is available in the margin of this blog post). Who cares about the poors, why can't I fully deduct my $30,000 in property taxes???