Powerful Democratic Senator Complains GOP Tax Bill…Harms The Rich

REUTERS/Andrew RC Marshall

Derek Hunter Contributor
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California Senator Dianne Feinstein, the ranking Democrat on the powerful Senate Judiciary Committee, is not happy with the tax cut bill Republicans in the House and Senate have agreed to. However, unlike most Democrats, Feinstein isn’t engaging in the usual attack her party unleashed on tax cut — that it will only help the rich — instead, she’s complaining that the bill would harm some of the wealthiest Californians.

On Sunday afternoon Feinstein tweeted, “The Republican tax bill caps the mortgage interest deduction at $750,000 for new mortgages. In California, seven counties have average home prices that are more than $750,000: Alameda, Marin, Orange, San Francisco, San Mateo, Santa Clara and Santa Cruz counties.”

The California counties Feinstein cited are some of the wealthiest in the country, and their property values reflect that fact.

The average home price in the United States is just under $200,000.

Feinstein lamenting higher taxes on some of the the wealthiest people in the country did not go unnoticed on social media.

Feinstein wasn’t the only liberal to complain about how wealthy Americans might not be as advantaged by the GOP tax bill as Democrats had perviously stated. Liberal writer and MSNBC contributor Kurt Eichenwald worried that someone earning $20 million per year in a blue state would see their taxes increase under the bill, but would get a tax cut if they lived in red states because of the lower state income tax rates and the limited deductibility of state and local taxes under in the bill.

Eichenwald’s solution differs greatly, however, from anything any elected Democrat has proposed — dissolving the United States.