Detailed text transcripts for TV channel - MSNBC - 20120415:12:10:00
Get a double-bang there. your state and local income taxes are tax-free. now, you see, people might think, that sounds fair. why on earth should i pay tax twice. but if you say it this way -- should the federal government do a matching program where every time the state wants to raise $1 of revenue from you, the federal government says, hey, don't worry, i'll click in 20 cents. that's essentially the way our system currently works. we get to deduct all sorts of things that, that are become tax-free. >> as chris at the state level, this is why states, one of the of the reasons states are in so ...
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