Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (245690)	2/26/2014 9:08:36 PM
From: JohnM	Respond to of 543015

I assume it's an opening bid in a long running conversation. McConnell has already said the Senate will not pass any tax legislation this year. And I suspect he's right. So, at best, bits and pieces may survive for some ultimate tax writing operation. The contents of that will depend on which party controls the house/senate and wh. If one controls all three we'll get fairly major changes. If it's mixed, the best that will happen is a hodge podge. As for parts I like, as you might guess they are parts which add taxes to the wealthy. I don't like lowering corporate taxes, do like putting a cap on the home mortgage deduction (so the wealthy have to pay more of their fair share), and so on. But, at least for me, serious tax reform involves raising taxes, largely on the wealthy, to address the list of items I put in a recent post as my major policy goals. But the political space in which to do that sort of change won't happen until there are major changes in the campaign finance laws. Thus it's a holding action for me.

To: Steve Lokness who wrote (245690)	2/27/2014 2:27:44 AM
From: bentway	Read Replies (1) \| Respond to of 543015

"I also like whacking back on the home mortgage deduction" I'd be fine with them eliminating it entirely, although I take it every year. It's a horribly regressive deduction. I'd rather see a rental deduction, which would help the people that most need a break.