IRS Data Shows Democrats Are Now the Party of the Wealthy Elite
Party flips from representing poor and middle class
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Decades ago, the Democrat party once represented the poor and the middle class, but not anymore, according to IRS data.
65 percent of American taxpayers with a household income of $500,000 are represented by Democrats in 2020, IRS data reported.
Meanwhile, 74% of taxpayers in Republican districts have household incomes of less than $100,000.
But the dynamic was much different in 1993.
A typical Republican congressional district showed 14% more wealth than Democrats.
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As of 2020, those Republican districts were now 13% poorer, data shows.
The figures come as Democrats push to end Donald Trump’s 2017 tax law, which caps the federal deduction for state and local taxes at $10,000.
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">NEW: 8 House Democrats say in a letter to Treasury Sec. Janet Yellen that they "could not vote" for an infrastructure bill "unless it restores SALT deduction relief."<br><br>Those Democrats: Sherrill, Malinowski, Gottheimer, Suozzi, Pallone, Pascrell, Sires & Phillips. <a href="https://t.co/q7h51snyEw">pic.twitter.com/q7h51snyEw</a></p>— Andrew Solender (@AndrewSolender) <a href="https://twitter.com/AndrewSolender/status/1377754284104765444?ref_src=twsrc%5Etfw">April 1, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Those benefiting from removing Trump's tax law would be the 1% of the United States’s wealthiest households, with property owners in high-tax states benefiting from the relief on federal taxes.
Democrats who won Republican districts campaigned on restoring the deduction, like in states such as New York and New Jersey, where red districts were flipped blue in 2018.
Democratic New York Rep. Tom Suozzi said:
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“I’m not voting for any change in the tax code whatsoever unless there’s the restoration of the SALT tax deduction. I’m laying that chit on the table."
Some lawmakers are even pushing to derail Joe Biden’s $2 trillion infrastructure package if it doesn't reverse Trump’s cap on tax deductions.
A group of lawmakers sent a letter to Treasury Secretary Janet Yellen on the matter earlier in April.
“We’re going to keep fighting until this is part of the bill," New Jersey Democratic Rep. Josh Gottheimer said
It’s as critical as a road or a bridge or a tunnel, which is why we are going to keep fighting for it until the end."
To put things in perspective on where the demcorats priorities are, illegal aliens who live in New York received $1.1 billion more in taxpayer-funded aid than American small businesses left struggling from the pandemic.
