You Decide

Note in last sentence "Uncle Sam is no longer helping carry."  I'm not an accountant but lowering the allowable interest and tax deduction to $10,000 the tax bill is making the wealthy to rich pay more federal taxes because they can't write it off. Hence gnashing of teeth that the world's coming to an end.

Republicans Bet The Farm

"....And the Democratic Party has also been put into a tight box.

As Democrats have denounced the tax bill for exploding the debt by $1.5 trillion, how do they propose to pay for all the free stuff, including free tuition and infrastructure, that they will have on offer?

There are only two options: borrowing and growing the national debt themselves or raising taxes, as Mondale promised to do.

Another problem for Democrats is the new $10,000 limit on the tax deduction for state and local income and property taxes.

In blue states like Oregon, Minnesota, New Jersey, Vermont, Hawaii, the top state income tax rate is 8 to 10 percent. In Jerry Brown’s California and Andrew Cuomo’s New York, it hits 13 percent — before adding property taxes on homes and condos in Manhattan and second homes out on Long Island.

Virtually eliminating state and local tax deductions is going to cause some of the rich to consider relocating to low-tax or no-tax red states in the Sun Belt like Florida. And it is going to put pressure on blue state pols to cease adding to the state and local tax burdens that Uncle Sam is no longer helping to carry....."

http://www.zerohedge.com/news/2017-12-22/republicans-bet-farm