"There is danger from all men. The only maxim of a free government ought to be to trust no man living with
power to endanger the public liberty." - - - - John Adams

Monday, October 30, 2017

GOP to shaft middle class on mortgage-interest deduction

A Big Fuck You From The GOP

  • The so-called "Conservative" Republican Party is already attacking the 401k middle class retirement program. Now they are going to take away the middle class mortgage interest deduction.
  • A "Crazy Blogger" like me might conclude the GOP does not give a shit about the American people.

(Wall Street Journal)  -  An influential home builders group will oppose the House Republicans’ forthcoming tax bill, in a blow to the party’s attempt to forge unity among business sectors.

House Republicans plan to release their tax bill on Wednesday. The tax legislation is the centerpiece of the GOP’s economic and political agenda, and many details have been closely guarded as lawmakers try to build a coalition to push it through the House before Thanksgiving.

The plan nearly doubles the standard deduction, ends personal exemptions and likely repeals the deductions for state and local income and sales taxes. 

According to estimates from the Tax Policy Center—which includes assumptions about blanks left in the House GOP plan—the current Republican framework would leave 4% of taxpayers claiming the mortgage-interest deduction, down from 21% today.

Read More . . . .

Fuck You GOP

All I can figure is the "Conservative" GOP deliberately wants to sabotage Trump's tax cut plan.


Anonymous said...

What tax plan ?
He`s a moron .

Anonymous said...

So... take away the "retirement" accounts. Anyone who has ANY sense is already setting up trusts when they get older... Even WITH accounts, with the high cost of medical, it wipes them out pretty quickly. IF you have nothing, Uncle Sugar will pay for your care.... If there is nothing he can "take".. you too get the same freebies as those who don't work and/or illegals.
As for taking away the mortgage deduction... well... plan on another housing bust.... I guess Uncle Sugar can bail the banks out again (while people just live in the street). Really... were getting pretty tired of this.
A National sales tax..... then you can get rid of ALL the deductions.... but until then.... IF you folks do this (on your GOP watch).. there will NEVER be another GOP anything elected again.... EVER....

Anonymous said...

look dude of october 30 , 2017 4:40 PM
over here in savehaven universal health care land , we got no "retirement" accounts cause our taxes go all to the " All Mighty Mordor he who see us all State " to pay government employees, pensions to oldies , and mix state handouts to "idle pay per vote stooges ".
so we cannot hold any accounts ... retirement or else ...
all the Money extortion state takes is to " pay per vote " schemes " to endure a 1000 years of socialism , supported by commies , and delusional terror inciters and subverters left wingers ...
so grab your Money and won`t allow a kind of situaltion like ours ...
we even begun to fail on free expression ... to what ?! cause :

“A really efficient totalitarian state would be one in which the all-powerful executive of political bosses and their army of managers control a population of slaves who do not have to be coerced, because they love their servitude.”

― Aldous Huxley, Brave New World