I had to laugh when Barbara Streisand complained that the new tax law (especially the exemption limit on state and local taxes) was going to “punish Hollywood.”
I noticed the “left coast” crowd were such staunch backers of the pseudo socialist Bernie Sanders in the last election. A simple internet search on “Streisand net worth” lists her net worth as being north of $300 million.
Ms. Streisand, you are the 1 percent that Bernie wanted to tax heavily to pay for all of his proposed government handouts to those who do not pay income tax.
Now that your California tax deductions are limited on your federal income tax, yes, you probably will pay more in taxes, just as you wished.
I don’t understand Ms. Streisand’s complaint.