And I am still waiting for George Soros and Warren Buffett to pay taxes on their gross income without deductions in order to set an example for the rest of us.
Remove the mortgage interest deduction? Insanity! Many wouldn't have any chance to own a home without that deduction. It is time to start looking for another country to live in. I could not be more serious. Personally I'm thinking of liquidating and moving to Asia. Maybe Changmai or perhaps Koh Samui. Take my chances with their particular form of instability and start again. Become a mango farmer or something.
It's actually smart. All the marginals got blown out in the turbulence. 30 years ago, they let you deduct credit card interest. Hopefully, we are on our way to a flat tax with minimal deductions - at that time our economy would explode to the upside.
Ah ha! Ricter has yanked my mind back to Washington speak. My mind keeps working in 1 year increments but all these jokers in Washington measure everything in a hypothetical 10 year number, thus, making their cuts seem bigger than they are (or will turn out to be). Smoke and mirrors since they can't decide on anything that will stick for next week let alone 10 years out. ------------------------------------------------------------------------------- Quote from Ricter: The $1.5 trillion is not an estimate for 10 years?? -------------------------------------------------------------------------------
It's more a matter of approaching the "tipping point" of an economy. The number of households on food stamps, in foreclosure, unemployed, underemployed, without health care, in need of student loans, etc, etc...I believe it's part and parcel of the nefarious plan to create persistent inflation and create this bifurcated South American style economy. You can't "control" a person with options, but when their lives depend on government largesse, they are a captive voting block.
And George Bush passed one huge entitlement program ( prescription drugs ) and floated illegal amnesty ( ode to Kennedy ) as the Dem kickback for funding the wars. Not funded, of course. Housing - both parties guilty. Blame to go all the way around.
Good or Bad, Right or Wrong, one must give the Devil his due. If it were not for the Tea Bagging Tea Party... We would not be having this very necessary legislative crisis. Madness.
Oh well if that's all it is, whoopee more taxes so the Odumbo administration can spend even more than they already are.