Comment: I propose a modification to the Cato Institute "dual rate" plan ( 15% and 27% depending on income) that would eliminate almost all deductions including the popular write-offs for mortgage interest and charity contributions. Mortgage interest deductions should be kept but restricted to the first part of the mortgage amount, lets say $200,000.00. Any interest on the amount of a mortgage over twohundredthousand dollars would not qualify for the deductions. And, no mortgage interest deduction for second homes, RV's, yachts, etc. This way the popular mortgage deduction for mainly first time home owners would be retained but taxpayers would not subsidize the million dollar homes. Charity contributions should be eliminated to separate charity from tax havens. Many times I have to hold my nose when I read about a "charity." Peter Enyingi enyingi@earthlink.net |