Preliminary Proposal by Debt Commission

[RIJIMMY]

Jim, dont forget - renters live in houses owned by someone. Those property taxes still get paid.

If the deduction went away, banks may be forced to revise their mortgage policies. The payoff - interest first process to me is pure roberry.

Just discussing both sides. I dont really have a stong opinion on it and it would hurt my $$$ too.

[Jim in CT]

Originally Posted by RIJIMMY

Jim, dont forget - .renters live in houses owned by someone. Those property taxes still get paid

If the deduction went away, banks may be forced to revise their mortgage policies. The payoff - interest first process to me is pure roberry.

Just discussing both sides. I dont really have a stong opinion on it and it would hurt my $$$ too.

"renters live in houses owned by someone. Those property taxes still get paid"

But not as much tax revenue is collected. If you have an apt building with 100 apartments, the guy that owns the building pays taxes. But if all those people move out and buy 100 homes, much more tax is collected. A home generates more property tax revenue than an apartment.

RIJIMMY, I was in the USMC, and as such, I was on the public dole. SO I see the value in everyone paying their fair share. But before we discuss tax increases, THERE IS SO MUCH WASTE that could be eliminated. I believe that if we were smart with efficiencies, we could LOWER taxes further, but still have enough revenue to pay for public costs. Just a hunch, I have nothing to base that on.

[RIJIMMY]

[QUOTE=Jim in CT;810173RIJIMMY, I was in the USMC, and as such, I was on the public dole. SO I see the value in everyone paying their fair share. But before we discuss tax increases, THERE IS SO MUCH WASTE that could be eliminated. I believe that if we were smart with efficiencies, we could LOWER taxes further, but still have enough revenue to pay for public costs. Just a hunch, I have nothing to base that on.[/QUOTE]

im with you. There is also the component of lowering the tax rate so that may offset the home interest deduction, dont forget that.
and happy vets day too!
My Dad was a Marine 1959-64. Stationed in Borneo, Okinawa and Japan.

[buckman]

Originally Posted by RIJIMMY

im with you. There is also the component of lowering the tax rate so that may offset the home interest deduction, dont forget that.
and happy vets day too!
My Dad was a Marine 1959-64. Stationed in Borneo, Okinawa and Japan.

Every Fed. employee got a raise this year. But the people on SSI have not had a cost of living increase in the 2 years Obama has been in office. AARP should be marching all over Washington.