wrote in message
oups.com...
I see no reason why second home loans or boat loans should be
deductible on income tax. This is simply a subsidy for the rich. Now
that I have made myself so popular here, what do y'all think?


For the rich?????????????

Heck, even my twenty foot runabout cuddy would have qualified for the credit
before I tore out the sink, ice maker and alcohol stove. But even if I
didn't, I paid cash for the boat and did not need any tax credits.

Having said that I do hope that some sort of IRS tax reform comes about this
year, and hopefully with a flat tax with a reasonable fixed income rate (at
which point the tax starts) and with no loopholes, exclusions or
deductions.....everyone pays the same tax rate over a specified income base
line.