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GOP tax plans would reward rich families

4 days ago   |   By

Life may be about to get easier for people with rich parents. They can thank the Republicans' tax plans.
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Rich homeowners in blue states are among the biggest losers in the GOP tax plan

Rich homeowners in blue states are among the biggest losers in the GOP tax plan

4 days ago   |   By

The GOP's tax bill is set to disproportionately impact homeowners in affluent parts of the US.
Wealthier households are currently more likely to take advantage of key tax breaks that could be downsized, including the mortgage interest deduction, and the state and local tax .
Although this could weaken buying activity and prices, the high end of the housing market is also the smallest by share.
States that would be most impacted include New York, California, Connecticut, and Hawaii. The majority happen to also be blue states.
The GOP's tax plan is likely to advantage wealthy Americans in a...
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