What's Going Unsaid: Arithmetic!

When Mitt talks about "cutting deductions," what's left unsaid is that the Mortgage Interest Tax Deduction is by far the largest overall deduction in the entire federal tax system. It's the biggest tax-saver for any middle-class taxpayer, and remains -- even in a down real estate market -- one of the chief reasons why home-ownership is still considered a wise business investment.  Obama should be hammering home the point that there is no way Rmoney's tax reform proposal (20% across-the-board tax rate cut) can be revenue neutral without repealing the Mortgage Interest Tax Deduction.


PS -- A 20% across-the-board tax rate is clearly a tax increase on people in the 10% and 15% tax brackets.  What the hell else could it be?

No comments:

Post a Comment