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The Case Against SALT

Will the Republican tax bill devastate America’s bluest states? That’s the impression you’d get from two recent op-eds in the New York Times, the first by a pair of liberal academics, and the second by a conservative policy analyst, both of which castigate Republicans for drastically shrinking the state and local tax deduction, also known as SALT. Ray Dalio, the legendary hedge fund investor, argues that curbing SALT will cause more millionaires and billionaires to flee high-tax states for low-tax states, thus causing a severe revenue crunch in the former.
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