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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: el_gaviero who wrote (53508)	7/17/2006 8:47:52 PM
From: mishedlo	Read Replies (2) \| Respond to of 116555

Interest deduction for second homes about to go? Let's hope so. In fact, I hope they eliminate them altogether. mortgagenewsdaily.com Study Measures Mortgage Interest and Real Estate Tax Deduction Benefits Back in November we reported that The President's Advisory Panel on Federal Tax Reform had submitted recommendations to then Treasury Secretary John Snow. Principal among the panel's suggestions were the elimination of federal income tax deductions for state and local taxes which would include the current deduction for local property taxes and the replacement of the current deduction for interest payments on home mortgages of up to $1,000,000 with a tax credit of 15 percent of the mortgage interest paid. The Panel maintained that this change would actually be advantageous to low and middle income homeowners although comments received on this website from those who made the computations based on their own circumstances did not concur, at all! The recommendations would pretty much do away with any deduction for a second owner occupied vacation home which, with some restrictions, is allowed under the current tax code.

To: el_gaviero who wrote (53508)	7/17/2006 8:58:30 PM
From: mishedlo	Respond to of 116555

Thank You President Bush Halliburtion, Betchel, and numerous weapons manufacturers all thank you. So does Mobil and the rest of the oil producers and refiners. The average guy on the street however, wants to spit in your face. I am in that group. Cost of Iraq war to top Vietnam and Korea theaustralian.news.com.au The Iraq war is to overtake Korea and Vietnam as the second-most expensive overseas military operation in US history, with spending expected to top $US500 billion ($660 billion) by the end of the decade. A report from the Congressional Budget Office says $US291billion has been allocated for the Iraq war, the equivalent of $US1000 for every man, woman and child in the US. The figures were published amid intense debate in Washington over when, and how fast, the US could begin to pull out of Iraq. The CBO examined two alternative spending projections. Under the first, more optimistic scenario, the US would maintain troop levels in Iraq at 140,000 next year but quickly begin bringing them home thereafter, with almost all its forces out by the end of 2009. This would still cost taxpayers another $US184billion from next year to 2010. ... ... Mish

To: el_gaviero who wrote (53508)	7/18/2006 12:24:43 AM
From: shades	Read Replies (2) \| Respond to of 116555

Attention-Deficit Americans Being Misled To War (What do you think of the political analysis Mish? Israel stepping up the pace before the dems take over congress in november and cut thier military support?) Zionists leading America into war By Paul Craig Roberts A terrible thing is happening, and not enough Americans are aware to be able to do anything about it. Zionists in Israel and in the Bush administration are leading America into war with Iran, Syria, Hizbollah in Lebanon and Hamas in Palestine. The consequences for America, Israel and the Middle East will be disastrous, but as long as Washington is in thrall to Zionist paranoia, nothing can be done about it. Bush made this clear on July 14 when he rejected the plea from Lebanon’s prime minister to pressure Israel to stop its attack on Lebanon. The war began when Bush’s neoconservative government invaded Afghanistan and Iraq under the pretense of "fighting terrorism." Neither front has gone well for America. The Israelis, seeing the growing domestic opposition to Bush’s wars of choice, concluded that they are in danger of losing America’s military intervention in behalf of their Middle East interests. Israel decided to force the issue. Israel did this by bombing and invading Gaza, from which they had just withdrawn as part of a "Palestinian settlement." Israel’s pretext was the capture of one Israeli soldier in Gaza in retribution for Israel’s genocidal policies toward Palestine. Few Americans know that Israel has forced Palestinians into ghettos and walled them off from their farm lands, schools, and medical treatment. By slaughtering scores of civilians and destroying the infrastructure of the fragile land in response to the capture of one Israeli soldier, Israel has made it clear that its policy is fire and sword. Under international law—the identical law that was used to try Nazi war criminals after World War II—Israel’s invasion of Gaza is a monstrous war crime. The United Nations top humanitarian official, Jan Egeland, said that Israel’s attacks on civilians and infrastructure violated international law. On July 13, the UN Security Council tried to condemn Israel for its criminal invasion of Gaza, but US Ambassador John Bolton, a rabid pro-Israeli zealot, vetoed the Security Council resolution that would have required Israel to halt its illegal and criminal actions in Gaza. Bolton is the UN ambassador who could not get confirmed even in a Republican Senate and was given a recess appointment by Bush in defiance of Congress. ......We certainly have to hand it to Israel and its American neoconsevative agents. They have succeeded on entirely false pretenses in launching two wars in the Middle East and now they have prepared the ground for a general conflagration. Who is to stop them? The Condi Rice State Department? Be serious. The Democratic Party? What a laugh! The power mad Republicans who have sold their souls? The Christian Evangelicals who believe the destruction of huge numbers of people in the Middle East is the lead up to "the Rapture" in which they will be wafted up to Heaven? The UN Security Council, where the US never fails to veto any resolution or sanction against Israel? The US and Israel haven’t the troops needed to defeat and occupy Syria, Hizbollah and Iran with conventional forces. Pentagon documents have described two ways in which the Middle East can be secured for Israel. One is the use of nuclear weapons. The other is the destruction of all infrastructure—power plants, water and sewage systems, hospitals, schools, roads, bridges, ports, and a reduction of much housing to rubble by powerful conventional bombs. In other words, an air war that never ends. Most Americans are incapable of identifying their own US Representative and Senators. Everything they "know" about the Middle East comes from Israeli propaganda: Israel is the innocent victim, and all Arabs are terrorists with suicide bombs. America is being led by a handful of traitors into participating in "regime change" that might succeed or might dethrone our bought and paid for puppets in Egypt, Pakistan, Jordan and Saudi Arabia. If Pakistan were to fall to Islamist forces, Muslims would have a nuclear capability as a counterpart to Israel’s and America’s. Muslims have many reasons to hate us for generations of oppression and interference in their internal affairs. As Iraq has proven, it is not easy to break their spirit. Out-gunned and out-manned, they still resist, motivated by anger and pride. Many Americans may think that "ragheads" mean nothing to them. But when $200 oil means Americans cannot commute to their jobs in their gas-guzzlers from their far-flung suburbs, or Russia and China intervene because American-Israeli interests conflict with their own, the world becomes a different place for inattentive, uninvolved, complicit Americans. (more fear factor - less CNN - where is the popcorn - american idol is coming on) vdare.com