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>homeowner in NY or CA

>deserves to be screwed to benefit rich folks

Hate to break it to you but if you own a home in NY or CA your probably one of the rich folks.

People inherit houses. Do you mean "rich on paper'?

Should there be a difference between someone who inherits a debt free, million dollar house in a liquid real estate market versus someone who inherits a million dollars worth of index funds in a Fidelity account?

In California, the heir to the house is arguably better off because they would likely inherit the proposition 13 tax basis and pay very little in property taxes.

Inherited wealth should count, don't you think

NY is a big state with a significant portion being rural. Likewise Cali is a huge state, and it’s not all SF and LA.

I agree but if you live in a rural area in one of those than the change to SALT matters much less to you.

> if you live in a rural area in one of those than the change to SALT matters much less to you

Why? State income taxes apply to you no matter where in the state you live.

Yes but you can deduct up to 10k, you probably won't be above that if you are in a truely rural area. Unless you are a business owner but then we are back to being rich.

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