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

To: Little Joe who wrote (87800)	10/6/2008 3:01:08 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 116555

Compare: a renter/saver taking only the Standard Deduction and paying income taxes on their income and interest income; a heavily indebted home owner without savings whose Itemized Deductions for interest and Property Tax have greatly reduced their annual income taxes. Clearly, at the same income level, an income tax holiday will likely provide the renter/saver perhaps four-fold as much cash benefit as the debtor. In contrast, the heavily indebted favor a one year elimination of the Social Security tax. In either case, it makes the downturn longer and more severe with generational after effects. .