Is abolishing the mortgage interest deduction and the property tax

[Raven]

deduction part of the Gang of Six Plan?

[Le Taz Hot]

1. Count on it.

[mmonk]

2. Yes, in a way. It is part of the right's flat tax proposals the last few decades.

[jtown1123]

3. It was in Bowles Simpson and this is pretty much identical, so probably

[SSDA]

4. This whole thing is disgusting!

Obama, the gang of six, etc are all GANGING UP ON US!


One can only imagine the crap coming out of this "Gang"

[jtown1123]

5. It's so bad it seems unreal. Tax cuts to millionaires and take away middle class deductions

[Name removed]

6. Deleted message

Sub-thread removed by moderator. Click here to review the message board rules.

[Tesha]

7. This is what comes of thirty years of "holding one's nose" and voting for Republicans...

...disguises as DLC "Democrats". Eventually, everybody
elected is a Republican, in name or in fact.

Tesha

[jtown1123]

8. +1000

[QC]

10. Not to mention treating a primary campaign like American Idol,

so that the dreamiest candidate who makes us feel all fluttery inside gets the nomination.

[dawg]

15. No, we can't be blamed for that.

I didn't vote for Obama in the primaries, but I can see lots of good reasons why others did. What we were sold was not what we got, and we can't be blamed for that.

[John Agar]

18. It was a campaign full of false promise..

Based on focus groups, no doubt.

I never really warmed to it, but voted for him in the primary anyway (only other choice was HRC, with pretty much the same politics).

[femrap]

30. I wish the previous Governor

Strickland of Ohio would primary Obama. This man grew up poor in southeastern Ohio...he has a heart and integrity. He could be our FDR...I'm sure of it. Well, if they didn't assassinate him.

[QC]

35. There were plenty of signs early on of what was to come:

Hugging every prominent homophobe who would stand still long enough, making the DLC's chief economist the Obama campaign's chief economist, raving over Reagan, the bit about having to give the corporations a place at the table, the "excesses" of the 60s, etc.

Strip away the rhetorical tropes and styles appropriated from Cesar Chavez and the Civil Rights Movement and Obama always sounded like the moderate conservative that he has turned out to be.

[newblewtoo]

40. blame me if you will

I changed my support from Hillary to Barack in the primary after hearing both speak. I am sorry I didn't listen to several friends who cast doubts on my new found candidate. But that is water under the bridge now. I doubt we will see any serious contender so I am pretty much determined to hold my nose while working to turn around the house.

[harun]

34. It's how every primary campaign in history has worked.

[QC]

36. Very true. n/t

[midnight]

9. K&R for further input...

[Raven]

11. I've just done some quick calculations and this will be a disaster

for me and, I suspect, others in a similar situation. I'm a senior on SS and medicare. I own my own home which has sustained it's value and I live in NH where property taxes carry everything and are pretty high. In addition, I gather they want me to pay more for drugs under Medicare part D and higher premiums under Part B. Now, that's my situation. What about a young family looking to buy a home. I think this will become prohibitive for many folks if they can't factor in the mortgage and property tax deductions. It will make renting the only way to go and it will kill the already dying housing market. I know there is a provision for a flat tax or lowering income tax brackets but I don't think that will ease the hit people will take. Am I wrong in my thinking here???

[jtown1123]

12. You're not wrong.

[luckyleftyme2]

13. you hit the nail on the head

reading some of the replies in here it is obvious we have people posing as democrats posting in this thread.
I just watched "Ron Paul" comment on this. now here is a person that never had to scratch for a penny ;he really has no idea how hard it is to get started in life as a middle class or lower income young man. these are the people that are out of touch with the working class.
figure it out if you make 80,000+ a year in joint income and you can't write off $4,000-6,000 in mortgage interest(about $400-$600) in real dollars it may make the difference in owning your own home.
we need to inform our legislators what it is or was like for us.

[JHB]

17. And how about the people who already have mortgages...

...and can afford it, but are already financially stressed, and loss of the deduction will put even more on their backs, or be the final straw?

[jtown1123]

20. Oh they don't think about that at all. There is zero foresight in these discussions.

[QC]

29. The people who matter don't have mortgages. They pay cash. n/t

[jtown1123]

14. Update** Proposals don't eliminate, just severely reduces it

it also reduces 401 (k) deductions, childcare, etc. Then lowers tax rates for wealthy. Still AWFUL.

[John Agar]

16. So, RAISING taxes on the Middle Class and working citizens...

In the middle of a recession.

When we have a housing crisis.

Great idea. NOT.

[jtown1123]

19. Yes. Raising Middle class taxes so they can permanently extend Bush tax cuts

[John Agar]

21. It is beyond horrific.

They are trying to slip it under the rug too.

Shame on them all.

Including the president, the DINO senators, and the media (of course).

Except Cenk.

[Kaleva]

22. I don't see a problem with eliminating tax breaks on 2nd homes.

[lamp_shade]

23. Neither do I. I think it's a good idea.

[jtown1123]

31. Great you don't see a problem this will hurt people who own one home

[harun]

33. They should have done that a long time ago.

[ecstatic]

24. That would make walking away from a bad mortgage much easier

[bvar22]

25. !

Cherish your memories, SUCKERS!
because we're TAKING everything else!
Hahahahahahaha!

[Doctor_J]

28. Are you sure that picture of Limpballs isn't copyrighted?

Don't want to get Skinner in trouble

[Mrs. Ted Nancy]

26. I thought they were getting rid of

the mortgage interest deduction for second homes and home equity loans.

Thus, only having a deduction for one house. But, I could be wrong.

[jtown1123]

32. No, not eliminating reducing. I believe it applies to everyone.

[SOS]

27. Ending mortgage interest deduction = end of US housing market

Just repeal the 2001 and 2003 Bush tax scheme.

Much simpler and won't collapse what's left of our economy.

[bemildred]

41. Pretty much, the last nail in the coffin. nt

[tammywammy]

37. Every thing I've read regarding mortgage deduction is for 2nd homes. n/t

[jtown1123]

38. Link? That's not what I've read...

[tammywammy]

39. I checked Google News for 'mortgage deduction, debt ceiling'

Those were the articles I checked through.