The Corner

Economy & Business

Capping the SALT Deduction Was the Right Move

In response to SALT in the Wounds

As much as I admire the great Andrew Stuttaford, I disagree with him on the SALT deduction. In August, Joshua McCabe wrote a fine piece for NRO addressing the decision to curb it, which I recommend. Elsewhere, he’s touched on a neglected aspect of the SALT deduction: its role in entrenching policies that drive up housing costs. And high housing costs, lest we forget, are a chief driver of the leftward shift of younger voters on both sides of the Atlantic. If you believe as I do in a cost-of-living agenda for the Right, one focused on making a decent middle-class life more affordable for more Americans, capping the SALT deduction is a good first step. By limiting the tax subsidy for high-tax jurisdictions, it nudges voters at the state and local level to press for more sensible and sustainable policies and to reject fiscal profligacy, as we’ll see in the years to come.

Reihan Salam is president of the Manhattan Institute and a contributing editor of National Review.

Most Popular

Religion

Chick-fil-A’s Shameful Capitulation

After what one Chick-fil-A executive called “years of taking it on the chin,” referring presumably to the decades of hectoring leveled at the company by LGBT activists, the press, and scolds at American colleges and universities, the fast-food chain announced its decision to withdraw support from three ... Read More
Religion

Chick-fil-A’s Shameful Capitulation

After what one Chick-fil-A executive called “years of taking it on the chin,” referring presumably to the decades of hectoring leveled at the company by LGBT activists, the press, and scolds at American colleges and universities, the fast-food chain announced its decision to withdraw support from three ... Read More
Film & TV

Frozen II Is a Fjord Fiasco

Since Frozen was a nearly perfect Disney feature, Frozen II brings with it the expectation of magic. Magic is really hard to pull off, though, and this time the sparkle is gone. In Frozen II, the story is strange, the jokes are terrible, the romance is nonexistent, and the songs are clunkers. Fairy tales that end ... Read More
Film & TV

Frozen II Is a Fjord Fiasco

Since Frozen was a nearly perfect Disney feature, Frozen II brings with it the expectation of magic. Magic is really hard to pull off, though, and this time the sparkle is gone. In Frozen II, the story is strange, the jokes are terrible, the romance is nonexistent, and the songs are clunkers. Fairy tales that end ... Read More
White House

The Impeachment Clock

Adam Schiff’s impeachment inquiry is incoherent. Given the impossibility of a senatorial conviction, the only strategy is to taint the president with the brand of impeachment and weaken him in the 2020 election. Yet Schiff seems to have no sense that the worm has already turned. Far from tormenting Trump and ... Read More
White House

The Impeachment Clock

Adam Schiff’s impeachment inquiry is incoherent. Given the impossibility of a senatorial conviction, the only strategy is to taint the president with the brand of impeachment and weaken him in the 2020 election. Yet Schiff seems to have no sense that the worm has already turned. Far from tormenting Trump and ... Read More
Elections

Warren’s Wealth Tax Is Unethical

Senator Warren would impose a 2 percent annual tax on wealth above $50 million, and a 6 percent annual tax on wealth above $1 billion. These numbers may seem small, but remember that they would be applied every year. With wealth taxes, small numbers have large effects. Applied to an asset yielding a steady ... Read More
Elections

Warren’s Wealth Tax Is Unethical

Senator Warren would impose a 2 percent annual tax on wealth above $50 million, and a 6 percent annual tax on wealth above $1 billion. These numbers may seem small, but remember that they would be applied every year. With wealth taxes, small numbers have large effects. Applied to an asset yielding a steady ... Read More