Ray Dalio Says End of the SALT Deduction Will Further Divide the Nation
Why Ray Dalio Opposes the Removal of the SALT Deduction
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Billionaire Ray Dalio said the expected elimination of state and local income-tax deductibility proposed by lawmakers will take a toll on high-tax areas due to lower revenues as high-income earners move out of state.
That’s going to exacerbate the polarity and conflict that’s already prevalent among wealthy and lower-income U.S. taxpayers, who have “typically different values.” The proposed tax incentives will push the rich toward states with lower levies, like Florida, Texas, Nevada, Washington and Arizona, he wrote in a LinkedIn post Tuesday.