http://www.thewbalchannel.com/news/4954685/detail.html

But don't lose sight of something that might be of greater immediate interest to the public: the fact that President Bush's tax reform panel, which is expected to send him its recommendations by November 1, is proposing to scale back two of the nation's most popular tax breaks, for home mortgage interest and employer-paid health insurance.

Interesting, thanks Pan.

Well, my deductions (including mortgage interest) aren't enough to allow me to itemize and I'm self-employed, so I pay my own health insurance... no effect on me :p

Hey, in the simulator I scaled back all tax breaks. Did someone skim off my inputs?

(NOTE: This is a joke, this is only a joke. Anyone who thinks I'm actually bothered by it, or for that matter actually cares if I am or not, should get some more sleep.)

Hm.... start messing with medical and Big Brother will have to step in and be a "hero" by further socializing our medicine.

Because of the requirement of itemization and the current tax structure, most young couples who receive the mortgage "break" only receive it for a few years. They quickly outgrow the ability to itemize unless they continue to "trade up" substantially every few years.

After finally hearing more, it looks like everone can breath easily, unless you live in a state where your mortgage is likely to exceed $300,000. Which... the median house price in my county is $450,000 so if you've bought a house in the last few years, its quite likely you'll get the pinch.

It ALWAYS pissed me off, when I was self-employed, that I couldn't write off my health insurance costs and employees could (its not counted as income). They finally started letting self-employed deduct the cost of their health insurance, phasing it very gradually. But actually, this is apparently affecting employers, not employees. I wonder if they're going to take it away from the self-employed again?

After finally hearing more, it looks like everone can breath easily,

Everyone who pays interest on a mortgage can breath easily, that is.

That welfare that you get inflates the costs of rents, and the poor truely have to pay for your tax cuts.

It ALWAYS pissed me off, when I was self-employed, that I couldn't write off my health insurance costs and employees could (its not counted as income).

Because the government did not want people to be owners of their own paychecks, they wanted workers to be employees(not employers).

Tax code used to change certain people's behavior.

No, it was because small business can't lobby as well as big business and trade unions and because it was a nice source of revenue.

Tax code used to change certain people's behavior.

Don't you think that's what the mortgage tax credit is about?
If there was no home interest deduction, what would be the incentive to owning a home?
Is there some interest in home ownership that helps society?
Would you rather live in a neighborhood where everyone rented their home or where everyone owned their home?

I think it would be better if the tax credit were phased out based on AGI rather than the size of your mortgage.

What's my agility have to do with taxes?

I thought wisdom was the tax stat?

I heard that int was the tax stat, but I don't think anyone really knows for sure. The Big Guys are keeping that information pretty close.

We need a Federal Tax Code page on lucy...

Actually, its MA that tax preparers have to have in order to understand the arcane forms.

No, it was because small business can't lobby as well as big business and trade unions and because it was a nice source of revenue.

Tax code used to change certain people's behavior.

Don't you think that's what the mortgage tax credit is about?
Of course it is. That is why I said it. Using the government's revenue collecting power to coerce and force people to change their behavior is obscene to me. It is as reprehensible as rape is to you as a woman. More so because there are those who smugly and gleefully want it to occur, that is as sickening to me as you would view someone cheering on a frat boy gang rape.


If there was no home interest deduction, what would be the incentive to owning a home?
Why have people always built or bought homes? Because they want to. Not as an artificial investment whose profits are taken from the backs of the poor. Unless you give renters the same welfare that you give to those who indebt themselves, it is stealing.

Is there some interest in home ownership that helps society?
It only helps those in your Starbucks-Louis Voittan society.
Would you rather live in a neighborhood where everyone rented their home or where everyone owned their home?
I loath suburban sprawl. It is a putrid viral infection. It is a consumption and environmental nightmare landscape.

I think it would be better if the tax credit were phased out based on AGI rather than the size of your mortgage.
Not even adjusted, and I would agree with you. What you make is what you get taxed on. No adjustments. Not for interest you pay, not how many puppies you popped out, not if you are married. The only adjustment there should be is all the other taxes you have had to pay to some other governmental agency.

You're prone to some rather extraordinary hyperbole, I don't quite see how you can equate a tax incentive with rape.

There's going to be a tax incentive in CA for buying hybrid cars that get good gas mileage. Are you going to feel raped over that too?

I think you might want to actually wait until you've been raped to decide that a tax incentive feels the same.

Right now, you're probably better off renting than buying because the market is over-inflated by a huge amount. I'd be better off renting too and locking in my investment growth but I can't quite bring myself to selling my house.

It only helps those in your Starbucks-Louis Voittan society.Perhaps you mean Louis Vuitton? Sheesh! :rolleyes:

You're prone to some rather extraordinary hyperbole, I don't quite see how you can equate a tax incentive with rape.


Production is key to the male reproductive right.

Choice is key to the female's.

Using force to tell me what I can and cannot do with my production, or taking the fruits of my production against my will is akin to rape. Taking my production against my will is the same as taking your choice against yours.

If you disagree with my first point(which I predict that you will), I would just say you have little to no experience trying to **** females. See point number two for clarification.

Hm.... start messing with medical and Big Brother will have to step in and be a "hero" by further socializing our medicine.

At least we can vote out Big Brother. You can't vote out Big HMO. Hell you can't even sue them when they interfere in your medical treatment to save a nickel.

Production is key to the male reproductive right.

Choice is key to the female's.

Using force to tell me what I can and cannot do with my production, or taking the fruits of my production against my will is akin to rape. Taking my production against my will is the same as taking your choice against yours.

If you disagree with my first point(which I predict that you will), I would just say you have little to no experience trying to **** females. See point number two for clarification.

If you want the play...you need the dough.

You can't even get in the front door if your wallet isn't flush.

At least we can vote out Big Brother. CAN we? Or is the political machine so dense that we will never be able to impact it any more than simply changing the oil?

Perhaps...but its still better than private industry making money by choking off necessary medical aid in order to fill their coffers.