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#2
posted to rec.boats
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Let's get them damn rich yacht owners!!
On 25/07/2011 7:19 AM, Florida Jim wrote:
On 7/25/2011 1:21 AM, wrote: On Sun, 24 Jul 2011 19:06:12 -0600, wrote: On 24/07/2011 6:22 PM, wrote: On Sun, 24 Jul 2011 15:01:48 -0600, wrote: On 24/07/2011 12:43 PM, John H wrote: On Sun, 24 Jul 2011 10:47:58 -0400, Wayne wrote: On Sun, 24 Jul 2011 06:15:23 -0700 (PDT), John H wrote: Eliminate all mortgage interest deductions. That'll do it better. At least it would be fair across the board. Might not be popular and might have a somewhat detrimental impact on the housing market. It would probably help the rental market though. =========== Home ownership has always been part of the American dream and the interest rate deduction is a tacit reaffirmation of that goal. Without question home ownership leads to a more stable citizenship and increased two parent family formation. Those were worthwhile goals at the time and still are. I'm not knocking home ownership. I think it's great. But, if the mortgage interest deduction were removed, I still think people would want to buy a home. I don't think that would change. However, for many people, the cost would have to come down far enough to offset the lack of the interest deduction. They do in Canada. In fact, the wealthiest Canadians I know all have their homes free and clear of debt for some time. After your last mortgage payment, you begin to pay yourself to live in your own home. Real wealth builder strategy. Too bad you're not one of them. In any case, this has little to do with the US model that's been around for quite a while. Even if you are in the US, it still makes sense to pay your house off. Sure, some of the interest is recoverable as a tax deduction, but what about the 70% you just gave to the bank? Once paid off, sure, you don't get the deduction, but you don't ave to make any payments either. Typical fleabagger math, give banks $1 so you can get at most, 30% back. Real stupid, you 70 cents short. Please show us where anyone would claim differently. As usual, you don't have a clue. What! You give the bank $1 and the Government gives you $.3 for donating to the bank. No wonder the Government is going broke. Write your congressman and ask him to repeal the silly law that legalizes this insanity. I think insanity is already legalized. Bernanke/Obama keep doing the same thing (more debt and fraud money) and somehow expect different results. Oh, you mean eliminate the insanity of carrying a mortgage just because it is tax deductible. You make too much sense for government. See, government's motto is to enslave people with debt and taxes for statism. Modern day slavery. You have to sell people on debt and tax by appealing to their envy and greed of others. Yet people who subscribe to debt and taxation slavery end up with their hopes drowned in their greed. Like the 100,000 homeless vets in California. They gave themselves for the country yet the government ignores their needs. 1.5 million kids in homeless tent families and DC doesn't get it. Sexier to victimize some other small country and bomb the crap out of them. Big spend war mongering machine. Few might not realize this but the war machine is a defunct money grabbing wealth consuming appendix. It is based on the premises of a WW II like scenario for WW III. When in fact WW III is going to be quite different. It will be biological or hand-to-hand in the streets. 11 aircraft carriers, 250 F22s and 500 F35s is hardly useful. Ya, sure, some are needed but this is big overkill. Big inefficient government and US-Euro-IMF banking cartels have basically conspired to screw the people for their green in a world statism. And it is failing bad. I am just waiting for a revolt. Say a million angry people march DC. But that is why the government wants more debt, they fear that day. -- Obama, enslaving Americans with debt-tax slavery for a spending binge. Doesn't even borrow real money, Bernanke just creates it like a counterfeiter. . |
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#3
posted to rec.boats
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Let's get them damn rich yacht owners!!
On Mon, 25 Jul 2011 09:28:37 -0600, Canuck57
wrote: On 25/07/2011 7:19 AM, Florida Jim wrote: On 7/25/2011 1:21 AM, wrote: On Sun, 24 Jul 2011 19:06:12 -0600, wrote: On 24/07/2011 6:22 PM, wrote: On Sun, 24 Jul 2011 15:01:48 -0600, wrote: On 24/07/2011 12:43 PM, John H wrote: On Sun, 24 Jul 2011 10:47:58 -0400, Wayne wrote: On Sun, 24 Jul 2011 06:15:23 -0700 (PDT), John H wrote: Eliminate all mortgage interest deductions. That'll do it better. At least it would be fair across the board. Might not be popular and might have a somewhat detrimental impact on the housing market. It would probably help the rental market though. =========== Home ownership has always been part of the American dream and the interest rate deduction is a tacit reaffirmation of that goal. Without question home ownership leads to a more stable citizenship and increased two parent family formation. Those were worthwhile goals at the time and still are. I'm not knocking home ownership. I think it's great. But, if the mortgage interest deduction were removed, I still think people would want to buy a home. I don't think that would change. However, for many people, the cost would have to come down far enough to offset the lack of the interest deduction. They do in Canada. In fact, the wealthiest Canadians I know all have their homes free and clear of debt for some time. After your last mortgage payment, you begin to pay yourself to live in your own home. Real wealth builder strategy. Too bad you're not one of them. In any case, this has little to do with the US model that's been around for quite a while. Even if you are in the US, it still makes sense to pay your house off. Sure, some of the interest is recoverable as a tax deduction, but what about the 70% you just gave to the bank? Once paid off, sure, you don't get the deduction, but you don't ave to make any payments either. Typical fleabagger math, give banks $1 so you can get at most, 30% back. Real stupid, you 70 cents short. Please show us where anyone would claim differently. As usual, you don't have a clue. What! You give the bank $1 and the Government gives you $.3 for donating to the bank. No wonder the Government is going broke. Write your congressman and ask him to repeal the silly law that legalizes this insanity. I think insanity is already legalized. Bernanke/Obama keep doing the same thing (more debt and fraud money) and somehow expect different results. Oh, you mean eliminate the insanity of carrying a mortgage just because it is tax deductible. You make too much sense for government. See, government's motto is to enslave people with debt and taxes for statism. Modern day slavery. You have to sell people on debt and tax by appealing to their envy and greed of others. Yet people who subscribe to debt and taxation slavery end up with their hopes drowned in their greed. Like the 100,000 homeless vets in California. They gave themselves for the country yet the government ignores their needs. 1.5 million kids in homeless tent families and DC doesn't get it. Sexier to victimize some other small country and bomb the crap out of them. Big spend war mongering machine. Few might not realize this but the war machine is a defunct money grabbing wealth consuming appendix. It is based on the premises of a WW II like scenario for WW III. When in fact WW III is going to be quite different. It will be biological or hand-to-hand in the streets. 11 aircraft carriers, 250 F22s and 500 F35s is hardly useful. Ya, sure, some are needed but this is big overkill. Big inefficient government and US-Euro-IMF banking cartels have basically conspired to screw the people for their green in a world statism. And it is failing bad. I am just waiting for a revolt. Say a million angry people march DC. But that is why the government wants more debt, they fear that day. I think you and stupid have a lot in common. Feel free to keep waiting. We'd be happy to give you a call when it's safe to come out of your hole in the ground. |
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