HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » Revenue from deduction cu...

Tue Nov 27, 2012, 11:40 AM

Revenue from deduction cuts is a SCAM, unacceptable, must be off the table

The Republican offers to raise revenue by cutting deductions rather than raising rates cannot be taken seriously.

It is a scam to shift the cost of revenue increases from billionaires to the more numerous $250K-$750K crowd.

Consider the home mortgage interest deduction. What percentage of tax burden does that represent for someone making $500K? Probably a fair amount. What percentage of a billionaire's tax burden? Almost nothing. Housing, even the fanciest housing, is a trivial percentage of a billionaire's expenses.

But 4% is 4%... 4% of a million or 4% of a billion.

And that is why they fight it. It is all about the billionaires.




1 replies, 453 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 1 replies Author Time Post
Reply Revenue from deduction cuts is a SCAM, unacceptable, must be off the table (Original post)
cthulu2016 Nov 2012 OP
OKNancy Nov 2012 #1

Response to cthulu2016 (Original post)

Tue Nov 27, 2012, 11:51 AM

1. I bet most millionaire/billionaires don't even have a mortgage

I'm retired and enjoy watching the decorating and home improvement shows. Sometimes they have real estate shows on too.
People who watch the Home and Garden network about selling high end real estate know... most of them pay cash.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread