Posted on 02/14/2011 10:39:37 AM PST by bestintxas
Edited on 02/14/2011 5:22:25 PM PST by Admin Moderator. [history]
Since after the time of Reagan, prepare for not just this one, but NUMEROUS schemes from the same players, to take from American citizens.
Unfortunately not; but if it hurt to be stooooopid, we’d have a lot less of it!
You know what? With all the support I give to the low lifes in this Country, it’s the ONE break that I, as a hardworking taxpsyer, get. Call me selfish, but I will do everything in my power to keep that deduction.
That would be the exact opposite of his intent.
He, like most leftists, seeks to further punish and grind down those who are not dependent on government in order to expand and reward those who have become wards of the state.
“Maybe the deductions helped inflate it in the right place?”
That logic takes you down the path of believing Government is the owner of money instead of people. No policy should be happening that takes normal market-approach and distorts it.
I wonder how housing would react if the government stepped completely away from it altogether.
“What “high crimes and misdemeanors” would you suggest we put in the indictment??? “
how about the unconstitutionality of taking over private businesses like GM and Chrysler and stiffing bond holders?
Is the constitution actually allowing this?
“This is one area, where I agree with Obama. The government should not be involved in the marketplace, outside of ensuring that regulations are minimal and necessary”
You also agree with Obama to distort the marketplace by a govt takeover of GM and Chrysler, bailing out AIG and by forcing our tax money to allo the feds to buy a govt fleet worthless pos cars like the Volt?
“What makes it sticky is if the government shuts down”
The Egyptian Government shut down.....think about how much money they’re saving.
Shuting down the Government, however briefly, is like NOT “raising the Debt ceiling”.....much to do about not much.
Let Obama VETO a Budget and go against the Will of Congress....please...do it “o” !
I can entertain the theoretical argument for not having a mortgage interest deduction (although I think interest should be deductible), but isn’t it obvious that a sharp transition to non-deductibility would absolutely tank the values of real estate? Most people borrow to buy a home, and the affordability of the home is linked to their net (after tax) monthly payment. So, removing the deduction would probably tank the market by about 20 to 25%.
Now, if Obama also thinks it’s important to keep the financial system afloat by urging housing prices higher, he’s got a conundrum. He wants to tap the mortgage flow as taxes, but he’s going to push a whole lot of houses and housing based mortgages further into the red with this.
It's one of the few bits of social engineering that benefits those who actually want to make a go of it. Your question is not really relevant unless you add "Are welfare recipients entitled to the fruits of my labors?" "Is anyone entitled to a transfer payment by which the hard work of one citizen is siezed and bestowed upon another?"etc.
It's one of the few bits of social engineering that benefits those who actually want to make a go of it. Your question is not really relevant unless you add "Are welfare recipients entitled to the fruits of my labors?" "Is anyone entitled to a transfer payment by which the hard work of one citizen is seized and bestowed upon another?"etc.
If I say the government should stay out of the marketplace, Bestintxas, how do you construe that as support for messing around with the car market,
Staying out means staying out.
Set some good regulations to ensure smooth transactions and without favour and stay out of the way.
the mortgage deduction should be phased out over a period of several years.
it is basically a backdoor subsidy to developers and the mortgage lending industry.
I agree that the market is distorted due to tax incentives.
Why are they ANY tax incentives in the first place. Fair or flat tax will solve it.
To take away one piece without changing the others is tantamount to what he is doing on healthcare - pass regulations then exempt a bunch of unions and businesses he favors.
Also, the housing market greatly depends upon the upscale housing the better-off build. sap their tax deduction on a house and they will not be built.
The interest deduction has been around a lot long then the housing crash. I suspect the crash had more to do with liberal ‘everyone has to have a house’ programs than anything else...
“If I say the government should stay out of the marketplace, Bestintxas, how do you construe that as support for messing around with the car market,
Staying out means staying out.
Set some good regulations to ensure smooth transactions and without favour and stay out of the way.”
I just heard “agree with Obama” and the same little man wishes to build cars nobody wants with taxes we do not have.
His support for tax elimination is the same for that: he wishes control.
If the tax rate were low and flat (say, 10%) like it should be, there would be no need for any kinds of deductions, credits, and such. All these things serve to do is complicate the tax code beyond recognition. The government should not be using the tax code to steer behavior anyway - what people do is none of their business.
It’s not just rentals.
I know a guy who has the money and desire to put on a new roof, build a new deck and a garage.
But he’s concerned that the housing market will continue to drop and that his hours at work might be reduced in the near future.
If that happens, he says he’ll just drop off the keys and walk away from it.
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