Detailed text transcripts for TV channel - CNN - 20171122:12:28:00
Reasons. particularly to new jersey and new york is the state and local taxes. >> why? you fat cats from these big states on the east coast, you want to help the wealthy. middleclass don't file for the s.a.l.t. deductions. >> this has been in the code since 1913. it is a matter of federalism. we shouldn't pay taxes on taxes. that's what happens when there is no deductibility of s.a.l.t. >> why taxes on taxes? you get deductions for the federal side. state and local, that's for you. that's on your municipalities, size, and expense. why get a break on the federal side for what you choose to spen...
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