[tony soprano]

Originally Posted by Kaiminani

The mortgage interest exemption is a straightforward-as-it-gets example of taking taxes from people and giving the money to those who are undeserving.

Oh, I think I have an even more straightforward-as-it-gets example of taking taxes from people and giving the money to those who are undeserving - giving tax credits to induce people to buy their first home, or a new car, or a hybrid vehicle, etc.

[dano]

"The mortgage interest exemption is a straightforward-as-it-gets example of taking taxes from people and giving the money to those who are undeserving."

"I am not a supporter of Reid, but the mortgage tax exemption needs to go. It is unfair to everyone renting an apartment or house so I hope that does get axed."

Nope and nope. The mortgage interest deduction was instituted to allow people, as they move up the success latter, to purchase their own home and begin building equity so that some day they could wholly own their own home and never have to rent again. Not sure why you don't understand that. Pretty straight forward.

[dynimagelv]

so....you're saying that its so they don't have to take personal responsibility for saving the money for a down payment?

[dano]

Umm, down payment or lack thereof was never mentioned. Not sure how that relates to the mortgage interest deduction.

Oh, and one other thing. It appears once again Obama is going against the majority of Americans by proposing its elimination since home-ownership is somewhere in the high 60 percentile. No wonder his approval ratings continue their slide into the 30% range. Just you socialists/communists support him now.

[ChrisKLAS]

Originally Posted by las vegas drunk

I seriously find this to be one of the most ridiculous posts I have seen in the long time.

Sorry you feel that way.

Originally Posted by las vegas drunk

It is a prerequisite to be a liar and a criminal to even become a politician.

No, it's not. That's a nonsensical generalization and makes you sound dumb.

Originally Posted by las vegas drunk

Also, I love how you claim to bring in a combined income of over $400,000 a year but then you say you are not rich????

We're not rich. Rich is being able to fly around on a private jet, do whatever one wants, and not have to work (i.e. live off interest). Sure, we save money, but if I were to stop working, my income would drop to nothing almost overnight (since I'm the material participant in my small business).

We're fortunate, absolutely no doubt about it, but I genuinely don't consider us "rich."

Originally Posted by las vegas drunk

I am not a supporter of Reid, but the mortgage tax exemption needs to go. It is unfair to everyone renting an apartment or house so I hope that does get axed.

Aww.. I love how liberals love to throw the word "unfair" around. I could consider it unfair that someone making what you do pays no federal income tax whatsoever, despite earning income. I don't have kids, so I don't get to take advantage of the hoards of tax credits that go along with that, is that unfair?

Millions and millions and millions of middle class people bought homes partially due to the mortgage interest deduction, any many would no longer be able to afford their homes were this repealed. Fortunately, this "proposal" will likely never happen, as you'd see an uprising in this country like never before were someone like Obama to seriously push for it.

Originally Posted by unf0rgiven6262

I would rather be "ignorant" than need to seek approval by others by flashing around my paycheck.

Firstly, I don't receive a paycheck. Paychecks are for employees. My earnings are directly commensurate to how well I run my business, and I also assume 100% of the risk with capital outlays, etc. I don't receive a salary unless I earn it, unlike many employees who show up for 8 hours then go home without having done much of anything.

Secondly, I'm not seeking yours or anyone else's approval. I was simply giving some context to my political problems with Mr. Reid, Obama, and other left-wing socialist Marxists, especially their incessant need to take more of what I've worked for.

The only people in the "real world" who know what I make are my Mom and my fiance. It's none of anyone else's business. I mentioned it on here only to give context to my argument, and because nobody on here knows who I am or anything about me aside from what I post.

You can think I'm a billionaire or that I live under a bridge for all I care. It's all the same to me.

[Kaiminani]

Originally Posted by dano

"The mortgage interest exemption is a straightforward-as-it-gets example of taking taxes from people and giving the money to those who are undeserving."

"I am not a supporter of Reid, but the mortgage tax exemption needs to go. It is unfair to everyone renting an apartment or house so I hope that does get axed."

Nope and nope. The mortgage interest deduction was instituted to allow people, as they move up the success latter, to purchase their own home and begin building equity so that some day they could wholly own their own home and never have to rent again. Not sure why you don't understand that. Pretty straight forward.

None of what you wrote contradicts the facts that I and LVD stated. The reason doesn't matter one bit - the fact of the matter is that tax money from everyone is being given -- completely unearned -- to home mortgage buyers. The taxman has his hands in the pants of people like LVD who rent and people like me who saved every dollar to buy a home outright just to give it to people who do neither (and indirectly to the home-builders and bankers by subsidizing their pricing).

THAT'S socialism and should be stopped.

[dano]

Originally Posted by Kaiminani

None of what you wrote contradicts the facts that I and LVD stated. The reason doesn't matter one bit - the fact of the matter is that tax money from everyone is being given -- completely unearned -- to home mortgage buyers. The taxman has his hands in the pants of people like LVD who rent and people like me who saved every dollar to buy a home outright just to give it to people who do neither (and indirectly to the home-builders and bankers by subsidizing their pricing).

THAT'S socialism and should be stopped.

Ok, I see your point here. In a world where the government doesn't socially engineer anything, you would be even with mortgage purchasers. Good luck finding that world.

[ChrisKLAS]

Originally Posted by Kaiminani

None of what you wrote contradicts the facts that I and LVD stated. The reason doesn't matter one bit - the fact of the matter is that tax money from everyone is being given -- completely unearned -- to home mortgage buyers. The taxman has his hands in the pants of people like LVD who rent and people like me who saved every dollar to buy a home outright just to give it to people who do neither (and indirectly to the home-builders and bankers by subsidizing their pricing).

Do you have kids? If so, I'm subsidizing your child tax credits because I don't.

I can't contribute to a roth IRA because I "make too much money," according to the feds, but you get to take advantage of that tax shelter (I'm assuming).

I'm in a 33% tax bracket, where LVD is in a 15% bracket (at best), meaning that I have disproportionately more of what I've worked to earn taken from me than he does.

There are thousands of tax breaks and credits for meeting various criteria, some which benefit us personally, and some which benefit others.

And lastly, if you think there's any other reason that the left would want to repeal the mortgage credit aside from imposing a 15-33% tax increase on nearly 70% of the population, you're delusional. They have to pay for all of this outrageous spending somehow!

[tony soprano]

Originally Posted by ChrisKLAS

There are thousands of tax breaks and credits for meeting various criteria, some which benefit us personally, and some which benefit others.

Agreed. If we're going to rail on about the socialist properties of the mortgage interest deduction let's not cherry pick. Let's end the redistribution of all tax dollars; the earned income tax credit, child tax credits, welfare, food stamps, Medicaid, yada, yada, yada.

[unf0rgiven6262]

Originally Posted by ChrisKLAS

Firstly, I don't receive a paycheck. Paychecks are for employees. My earnings are directly commensurate to how well I run my business, and I also assume 100% of the risk with capital outlays, etc. I don't receive a salary unless I earn it, unlike many employees who show up for 8 hours then go home without having done much of anything.

Secondly, I'm not seeking yours or anyone else's approval. I was simply giving some context to my political problems with Mr. Reid, Obama, and other left-wing socialist Marxists, especially their incessant need to take more of what I've worked for.

The only people in the "real world" who know what I make are my Mom and my fiance. It's none of anyone else's business. I mentioned it on here only to give context to my argument, and because nobody on here knows who I am or anything about me aside from what I post.

You can think I'm a billionaire or that I live under a bridge for all I care. It's all the same to me.

The term "paycheck" was used loosely to refer to your income. Although I certainly don't agree with freeloaders getting money while not even seeking employment, the other end of the spectrum is equally dangerous. Your assessment of employees who work 8 hour shifts might fit some (mostly teenagers) but far and large most people are busting their ass to make a living. Socialism is not practical but helping your fellow man is. When you get the attitude that what's mine is mine and everyone else can screw off your heading down a dangerous path.