{"id":256896,"date":"2017-12-05T13:45:00","date_gmt":"2017-12-05T18:45:00","guid":{"rendered":"https:\/\/admin.rushlimbaugh.com\/?p=256896"},"modified":"2017-12-06T16:00:29","modified_gmt":"2017-12-06T21:00:29","slug":"pelosi-and-moonbeam-freak-out-over-tax-bill","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2017\/12\/05\/pelosi-and-moonbeam-freak-out-over-tax-bill\/","title":{"rendered":"Pelosi and Moonbeam Freak Out Over Tax Bill"},"content":{"rendered":"

RUSH: Here\u2019s a tweet from Nancy Pelosi<\/a>: “I want every single California Republican to understand this. Your ideology doesn\u2019t come first. Your party doesn\u2019t come first. The PEOPLE come first. If you fail to recognize that, you don\u2019t belong here.” She\u2019s talking about the tax bill. Governor Moonbeam, Jerry Brown, “The tax bill is evil in the extreme.” You talk about unhinged and worse.<\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: So I checked the email during the break. “Rush, I don\u2019t get it. What is Pelosi talking about here in that tweet that you read? ‘I want every single California Republican to understand this. Your ideology doesn\u2019t come first. Your party doesn\u2019t come first.'” What she\u2019s upset about, folks, is the tax reform proposal that the eliminates the deductibility of state and local taxes. I\u2019ve mentioned this two or three times. But to these people — to the Democrats in California, New York, Illinois, Connecticut — wherever you have exorbitantly high state personal income tax rates…<\/p>\n

\"\"The Republican tax reform proposal that limits this deductibility has these Democrats unhinged. It is the reason why. It is the one thing in the tax bill that\u2019s gonna cause people of means to flee these states. I played golf Saturday with a guy who\u2019s got two homes in New York, and he\u2019s a New York lifer and his business is in New York, and he heard about this, and he actually said to me, “I\u2019m thinking of moving.” I said, “Please don\u2019t come here.” He said, “Why?” I said “‘Cause all you gonna do is bring your liberalism here and pollute where we already live.”<\/p>\n

I was half joking. But people who pay exorbitant state taxes but are allowed to deduct those taxes from their federal taxes? It has allowed these states — California, New York, Illinois, Connecticut — to really overcharge people on the highest marginal rates. They\u2019ve been able to soak people at 9, 10% or more, but they\u2019ve been able to deduct those taxes from their federal returns which means that they\u2019re not really paying all that money to the state. They are, but it\u2019s coming back to them in the form of adjustments on the federal return.<\/p>\n

When they can no longer deduct these taxes that they pay, it\u2019s gonna result in a severe amount of money, a severe loss. Some of these people, it\u2019s gonna mean a $2 million-a-year additional tax bill. Others, $500,000. I\u2019m talking about the people at the top of the income scale. Without the deductibility of state and local taxes, they\u2019re gonna be paying taxes they haven\u2019t paid before while everybody else is getting a tax cut. That\u2019s why Pelosi and Jerry Brown and all those people are unhinged over this, because it\u2019s also gonna serve to expose how exorbitantly high the taxes in California are.<\/p>\n

I\u2019ve mentioned I have a lot of friends in California. I go out there frequently, and when I do I try to play golf, and every time they say to me, “Why don\u2019t you come here? You\u2019ve got so many friends here. You love coming out here every time. You\u2019re letting the tax code stand in your way of enjoying life.” I say, “You know what? You may have a point, but I am. I do not want to have happen in California what happened to me in New York. I do not want exorbitant taxes, and the minute I move out here, I\u2019m forever a California resident. Even if I move out of there, they\u2019re gonna be chasing me for the rest of my life.”<\/p>\n

But beyond that, it\u2019s a matter of principle. I said, “How do you guys put up with it? How do you guys pay it? You guys are paying almost 60%!” I ask \u2019em, “How in the world does that not bother you?” Well, the answer is they\u2019re not paying 60% because they get to deduct whatever their state taxes are off their federal return. Now they\u2019re not gonna be able to, and you know what\u2019s gonna happen? There are going to be people that leave. This is significant at the upper tier of earners here. There are some people… Look, I\u2019m not making the number up.<\/p>\n