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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Nadine Carroll who wrote (298279)	3/26/2009 4:04:58 PM
From: mph	2 Recommendations Respond to of 793955

Obama's proposal is based on a sound intuition: Do we really believe it's fair that when a married couple with a taxable income of $50,000 gives $1,000 to charity, they get a tax benefit of $150, while a couple earning $1 million making exactly the same contribution gets back $350? Is it fair that the higher-income couple also gets a bigger tax advantage on their mortgage payments? The value of the deductions is currently worth more to the higher-income couple because they pay taxes at a higher rate. Obama wouldn't even close the whole gap. Applied to this example, his 28 percent cap would still let the wealthier couple deduct $280. This kind of argument makes me crazy. The lower income couple is paying a lesser per cent of their income in taxes, so, of course, the amount they save by way of a deduction is less. Why should it be more?

To: Nadine Carroll who wrote (298279)	3/26/2009 4:35:34 PM
From: KLP	1 Recommendation Read Replies (1) \| Respond to of 793955

EJ gets about 1/3 of a clap from me. He misses entirely the point that we WOULDN'T have deficits IF the Congress would stop spending. Even the $8-9 BILLION dollars of Pork in the recent Omnibus bill didn't need to be spent, and the Congress darn well knows it. The Congress treats budget making as if they were playing in the sandbox....not a care in the world. It would be like any of us making our own budget, and including a Lamborghini ---"pretending" of course, and "forgetting naturally" that we have NO money to pay for such a car. So we take it OUT of our own budget and ADD something else, because we con ourselves into thinking we have "saved" a lot of money by not buying the expensive thing, so we can buy something else. Convoluted BS.