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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (290657)11/10/2010 6:50:16 PM
From: John McCarthyRespond to of 306849
 
If the mortgage interest deduction part of it moves ahead .....

I was wondering what the 'walk-away' count would
rise to ...

Also I'll betch a nickel - all deductions for state income
taxes would be eliminated to ...

IOW - its a helluva tax increase .....

regards
John



To: carranza2 who wrote (290657)11/10/2010 7:26:22 PM
From: Les HRespond to of 306849
 
I don't think it's big enough. The deficit is over 10 trillion dollars for the next ten years.

They gave a huge tax cut to the top 20% of taxpayers who make up about 45-55 percent of taxable income.

The top 20 percent currently pays the effective tax rate of 25.8 percent.

The top 1 percent currently pay an the effective rate of 31.8%.

I'm sure they'll be happy to pay only 23 percent.

At the very least, they should giving any group a break so there's shared sacrifice.


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