Perspective: Sweet revenge for damage inflicted by the Trumpublican tax bill
By Allan Sloan Allan Sloan Email Bio Columnist April 12 Tax revenge is sweet. And it can be profitable, as well.I’ve been writing for the past 15 months about how some of us who live in high-cost, high-tax blue states can get a measure of tax revenge for the damage that Donald Trump and his Republican accomplices inflicted on us in the 2017 tax bill by limiting federal deductions for state and local taxes to $10,000 a year.
These “qualified charitable distributions” — which we’ll call QCDs from now on — consist of checks made out to charities rather than to the people taking retirement account distributions. Then there’s the tax break that Schwartz, who has put up with my irreverent questions for more than 20 years, got me on my earnings from The Post and ProPublica. I’m a contractor, not an employee, at both places.
Even I could see that paying tax on zero percent of my after-expenses contractor income is better than paying tax on 80 percent of it. Trump addendum: I’d love to see Trump’s personal tax returns even though, as I wrote two years ago after consulting various tax experts, there’s probably no way they’d show anything like “income from Russian oligarchs.”
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