More Focus On The State/Local Income Tax Deduction

E.J. McMahon in today's New York Post adds his name to the list of those beginning to realize just what the elimination of the state/local income tax deduction would mean for New York.

Deduction curbs would hit New York harder than any state because,
thanks to their heavy state and local taxes, New
York’s highest-income taxpayers
claim higher deductions than their counterparts elsewhere.
How about a few numbers:
As of 2010, New Yorkers earning $1 million or more generated 14 percent of
the entire nation’s federal individual income taxes in that bracket, according
to IRS data. So, 14 percent of any tax rate increase targeted solely at these
top earners would come from New York. . . .
That’s not all. Counting commuters from other states who are taxed by Albany
on wages and bonuses earned here, New York’s tax base accounted for 30 percent
of all the deductions for state and local taxes claimed by Americans earning $1
million or more as of 2010.
Whew! And we are less than 7% of the nation's population.

So is Senator Schumer going to get out front cynically protecting the highest-earning New Yorkers from this onrushing train even as he pretends to attack "the rich"? He has been uncharacteristically quiet lately, but I find this from a summary of a speech he gave back in October:

He suggested that it is important to protect some tax expenditures, such as
those for college education, retirement savings, mortgage interest, charitable
deductions, and state and local tax deductions.
Very clever there, Chuck, the way you bury the mention of the big money.

The second highest income tax state, California, will be with us on this one. Between the two of us, we're almost up to 20% of the population. You would think that the other 80% of the United States, if they are paying even the slightest attention, will catch on to us on this one. On the other hand, by the evidence of the voting patterns of the 18-29 year olds, it is difficult to underestimate the ease with which voters can be fooled on matters of money.