Their are once again trying to eliminate the mortgage interest credit.

From Citizens for Legitimate Government, Lorri Price

"GOPedophiles want to eliminate tax deductions including mortgage interest and state and local taxes in order to pay for Halliburton's bonuses and KBR's detention centers: US Treasury mulls own stamp on tax code overhaul 13 Jul 2006 U.S. Treasury officials are likely to put their own stamp on a proposed comprehensive overhaul of the tax system suggested by a blue-ribbon panel in November, an official said on Thursday. The panel recommended eliminating deductions for many taxpayer costs, including mortgage interest and state and local taxes. The panel also proposed requiring workers to pay taxes on health care benefits provided by their employers. "

That's one of the big bennies to owning one's own home; that tax break.

Oh well, in a Lords and Serfs society, the serfs don't need to be doing any home owning, I reckon.

And that's the way they'd like it....

The tax-break is just a way for the government to subsidize bigger, more expensive houses for the well-off.

So let them put this out on the news. It will NOT sell well with the Repub masses!

the republican party once and for all.

that would be political suicide.

Good heavens, Henry, we can't have that!

Do you mean the SUCKERS don't pay taxes on the health insurance we used to pay and now force onto their shoulders? Good heavens, we can't have that!

When are the SUCKERS gonna wake up and realize that conservatives are just plain fucking EVIL?

I'm talking about conservatives in BOTH PARTIES.

File a claim and you just continue to buy it. LOL

That is really my only write off and too much of MY income is already taken before I even get to cash my check. I can't afford to owe the gov ANY MORE money and I'm dead serious.

Me thinks if they eliminate the mortgage interest tax credit that McMansions will suddenly be much less popular and that more folks will buy the house they need rather than the house they can afford. And then they will try to pay off their mortgage early. Perhaps the idea isn't all bad. But it'll never happen. The mortgage companies and banks have too much to lose if the mortgage interest tax credit is eliminated.

objected they had to pull it. That's a great line about paying for Halliburton. The Democrats should use it. Make a great bumper sticker.

Before Reagan, UE benefits were tax free. After Reagan, you pay taxes at a time when you're
least able to do so.

Republicans suck.

...why don't these thieving bastards return the billions they have profiteered from the Iraq war, slash the corporate welfare, cut the defense budget in half, and make these fucking multinationals start to actually pay some sort of income tax themselves instead of handing the proportionally tiny part that they do pay right back to them in the form of the above incentives?

I know. It makes more sense to destroy the middle class instead if your a conservanazi.

wouldn't it?They promised to not raise taxes so that would break that pledge.

?

this would be a "good" way to do it. Getting rid of the tax break and also getting rid of the state tax deduction would throw a lot of folks into insolvency. We are talking a sudden effective increase of thousands of dollars a year in taxes for many folks. I think the real estate lobbies are too strong to let this go through, though.

However I have read that the really rich F**kers generally buy houses for cash, so THEY won't care, and I am sure the reason for eliminating the state deduction is to put pressure on that tax base to be cut. Of course states can't run endless deficits (usually) like the federal government so there won't be cuts, just more pain.

The Conservatives started eliminating it (by gradually cutting the tax rate at which the credit was given), and Labour continued the policy until it was gone. It didn't seem to hit anyone very much that way; and now the government isn't subsidising the middle class at the expense of the poor, as it used to. A good policy all round, really. Perhaps the key is to do it over a number of years, so people's finances don't change too much in any one year.

Between a massive tax increase on "the American dream" and the renewed Republican plans to privatize Social Security democrats can paint a picture the public will respond to.

Two more years of Congressional republicans will go over with middle America about as well as $5 gas.

this one will really piss the masses off. I deal with a board that thinks gwbushit is king and the right side is the way of the world. I constantly get hit over the head with the greater income/less taxes idiom.

Is it in the omnibus budget ?