DEMOCRATS usually lament efforts by the rich to avoid paying taxes. Yet the bill President Donald Trump signed into law on December 22nd may spur Democratic-leaning states to concoct such schemes. The reform capped at $10,000 the deduction, from federally taxable income, of state and local taxes (the "salt" deduction). As a result, those who pay large local levies are likely to pay more federal tax in 2018. The change is particularly bad for high-earners living in big houses in states like New York and California, which impose high taxes. These states-which tend to see the reform as Republicans shaking down their political opponents-may yet put up some resistance.
展开▼
