Comment: 1. Tax on gasoline consumption should be increased significantly, on a phased basis. When prices drop from the current shortage, the tax burden should be increased. This would allow US businesses to re-engineer their products to be more energy efficient and discourage waste. This would also reduce pollution and improve the environment. Public transportation projects would be feasible with greater usage by the public. Federal Income Tax rates could be reduced accordingly. 2. I know the President wants to encourage home ownership. Does he want to provide a greater benefit to wealthy homeowners than to those who can only afford a modest home? The present system encourages individuals to maximize the amount of their mortgage interest deduction. Constant refinancing is a game when monies borrowed are used for other purposes. Some simple deduction for homeowners not dependent on mortgage payments or favoring the wealthy should be used to encourage home ownership. 3. I support higher tax rates with fewer deductions to simplify the tax code. Thank you, James A. Childress, CPA PO Box 249 Carlsborg, WA 98324 __________________________________________________ Do You Yahoo!? Tired of spam? Yahoo! Mail has the best spam protection around http://mail.yahoo.com |