To: Willie Green
Ignore that close to 20% of federal revenue is already dedicated to make just the interest payments on the debt. That's about the same amount of my revenue that went to the mortgage interest payments when I first bought my house. But since then, my revenue has gone up significantly while the interest payment is so low now that I'll probably end up using the standard deduction this year.
16 posted on
12/08/2003 2:14:56 PM PST by
Ditto
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To: Ditto
That's about the same amount of my revenue that went to the mortgage interest payments when I first bought my house. But since then, my revenue has gone up significantly while the interest payment is so low now that I'll probably end up using the standard deduction this year.Well Ditto, I'm will to bet that you also paid down some of the principle on your mortgage as well.
And as your annual revenue increased, you didn't make a habit of spending 20~30% more than you earned each and every year.
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