Democrat Senator Dianne Feinstein’s whine for all her friends from California could be heard all over Capitol Hill. In a departure from her party’s long-standing desire to tax the rich, she suddenly thinks that it is a bad idea.
The Republican Tax Reform Bill is not what she wants it to be. It seems that the home mortgage tax exemption does not go high enough for the richest counties in the State that she represents. The exemption only goes to $750,000 and that is not enough for her Left-Coast buddies mansions. In the rest of America, that is more than three times the median home mortgage.
As Written By Derek Hunter for the Daily Caller:
California Senator Dianne Feinstein, the ranking Democrat on the powerful Senate Judiciary Committee, is not happy with the tax cut bill Republicans in the House and Senate have agreed to. However, unlike most Democrats, Feinstein isn’t engaging in the usual attack her party unleashed on tax cut — that it will only help the rich — instead, she’s complaining that the bill would harm some of the wealthiest Californians.
On Sunday afternoon Feinstein tweeted, “The Republican tax bill caps the mortgage interest deduction at $750,000 for new mortgages. In California, seven counties have average home prices that are more than $750,000: Alameda, Marin, Orange, San Francisco, San Mateo, Santa Clara and Santa Cruz counties.”
The Republican tax bill caps the mortgage interest deduction at $750,000 for new mortgages. In California, seven counties have average home prices that are more than $750,000: Alameda, Marin, Orange, San Francisco, San Mateo, Santa Clara and Santa Cruz counties. #GOPTaxScam
— Sen Dianne Feinstein (@SenFeinstein) December 17, 2017
The California counties Feinstein cited are some of the wealthiest in the country, and their property values reflect that fact………
THERE IS EVEN MORE HERE KEEP READING: