townhall.com ^ | 10/14/05 | Neal Boortz
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The panel seems to be moving opposite the way it should: tax simplification.
Flat or fair tax now!
It's not just this panel - it's the whole Big Stupid Government. The damn thing has gone completely off the rails and exists to perpetuate itself and the Republican/'Rat parties.
Just like a cancer.
Panel formed by the President, members nominated by the President, given objectives by the President, yet we're being asked to dismiss the results? Is Boortz just being sexist because Connie Mack co-chairs the panel, or is he a Beltway elitist because of the school John Breaux attended? Isn't the panel made up of "accomplished" people, and aren't we supposed to "trust" them?
My understanding of their recommendation was that the deduction was to be reduced from $1 million to a non-arbitrary number based on the value of properties in each area.
While I have misgivings (serious misgivings about their non-arbitrary number) I don't see any problem with the reduction of the maximum deduction that can be made based on the interest on a mortgage.
This means that aside from people in the top economic stratosphere, this won't affect most Americans. What it will probably do is depress the development and sale of ultra expensive vacation homes and large investments in expensive properties by wealthy people looking for an investment that comes with a tax break.
Everyone else with properties whose interest on their mortgages won't exceed the maximum deductible, which is pretty much everyone but the really wealthy few, won't feel a thing.
Of course - a flat tax system with no deductions would be much, much nicer.
I dislike the "fair tax" system for the same reason that I dislike the idea of a calculation for determining a person's maximum deductible on a mortgage. I don't like the idea of combining government and complexity. It always seems to spawn bureaucrats and eventually the invisible corruption we only find out about after millions or billions have been wasted, stolen, or lost. And this doesn't just happen in government.
Proves the joke that a camel is a horse designed by gubmit committee.
As Boortz pointed out in his radio commentary, not ONE of the members of this tax reform panel is a businessman. The vast majority are university professors...yes, ivory tower denizens of a cocoon provided by someone else's money. What in the world was the President thinking when this goofy bunch was selected? I truly think he has lost it. Every House and Senate member ought to be buried in negative correspondence when the panel's recommendations to raise taxes appears next week, and their report needs to die a swift and sure death.
When the "leak" came out earlier in the week of what the commission was proposing, I was as freaked as anyone.
But the commission has not released anything official yet. They are not even done meeting yet...check the site: http://www.taxreformpanel.gov/
Let's cool it until the report is done. Bortz: go suck an egg until you have something substantive to bitch about.
Ping!
If anyone would like to be added to this ping list let me know.
Don't like the lack of action on the part of this so called tax "reform" panel?
Get on the horn with that Congress Critter and let them know how you stand in no uncertain terms.
Bottomline, change is only going to come about if we fight for it and no other reason.
John Linder in the House(HR25) & Saxby Chambliss Senate(S25) offer a comprehensive bill to kill all income and SS/Medicare payroll taxes outright and replace them with with a national retail sales tax administered by the states.
H.R.25,S.25
A bill to promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national retail sales tax to be administered primarily by the States.Refer for additional information:
might have had good intentions like every similar panel tell they get the wake up call from the fed....."all your freedom and prosperity berong to us since 1910 and don't forget it".....click
Thank God a voice of sanity out there... I think the panel has obviously ignored or are incapable of understanding their mission.... which they have failed miserably with their suggestions.
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"The tax reform panel, having failed to follow its mandate, should be dissolved immediately"
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I second the motion.
Not only they failed to follow their mandate, but by proposing a cap on mortgage deduction they are actually working to complicate the tax code, RAISE TAXES, DISCOURAGE home ownership, hurt the economy -- in other words they are doing the opposite of their mandate. They should all be fired immediately.
So now the suggestion is to raise our taxes by removing the tax credit for home mortgages!
For some insight into what a lot of voters thought about the performance of the Tax Panel, check this thread:
http://www.freerepublic.com/focus/news/1501413/posts?page=1
And these were less than one day's comments. I can hardly wait to see more.
