Mike Sura asked on Sept. 12 in his letter to the Aspen Daily News why we should vote for Biden, so I’ll answer: Because Biden wants to reinstate what President Trump took away, namely the unlimited SALT tax deduction. SALT (state and local tax deduction) is a deduction you can take to lower your federal taxes. Trump lowered it to $10,000. Prior to Trump it was an unlimited deduction.
With Joe Biden in office, most of our guests in town would be able to deduct hundreds of thousands of dollars off their taxes (Schumer and Pelosi also want to eliminate the cap). So, if you own a house in Miami then you pay property taxes on that and you own a yacht and pay tax on that purchase, and you had to buy a private plane to get to your house in Aspen, and you pay Colorado taxes on that. Well, with the SALT cap taken away there is no limit to how much you can deduct from your federal tax burden.
Can you believe Trump only allowed a measly $10,000 deduction? I thought he was working for the rich. Baloney.