Friday, November 12, 2010

That's What I'm Talkin' About...

After reading and hearing several responses to the report from the National Commission on Fiscal Responsibility and Reform, I thought I was losing it.

Then I found THIS ARTICLE by David Limbaugh.

As soon as I heard one particular item from the commission's report, I laughed it off. What a joke. They can't be serious.

What bothered me? The mention of eliminating the mortgage interest deduction.

Why start to eliminate certain tax deductions or exemptions. People will just find other items to reduce their tax burden, and those "people" include congress, who will subsequently pass laws to allow for other deductions. Eliminating tax deductions is essentially RAISING taxes. Changing taxes will not fix our problem, and certainly RAISING taxes will not, but SPENDING is our problem.

...and who benefits mostly from mortgage tax deductions. The middle class.

Seriously, they can't be serious.

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