wrote in message
ups.com...

wrote:
Yep, they're all about lower taxes.....


Notice the 50% increase in the tax rate for the folks on the bottom end
of the scale? (Increases from 10% to 15%).

Mortgage deduction: Too bad it can't be saved for inexpensive "starter"
homes purchased by young families, but a good percentage of folks who
are
allowing the government to subsidize their personal housing expense (by
enabling them to pay interest on $1mm mortgages with tax-free
dollars)

A tax cut isn't a subsidy!


also fall into a group that gnashes and wails at the very
thought of
any public assistance for low income renters. In reality, the mortgage
interest deduction is probably safe- can you say "Catastrophic real
estate crash", otherwise? It might be reasonable to phase out the
mortgage interest deduction over a period of time, eliminating it
entirely for mortgages dated after XX/XX/XX.

It is long past time for a bi-partisan effort to reduce spending and/or
raise taxes to restore some fiscal credibilty to our runaway
spendthrift FEDGOV.

I'd support the elimination of itemized deductions...BUT only if they went
to a flat tax across all income levels.