Subject: Median Levels as the bench mark Comment: Why could we not establish that if the mortgage is above the national median the deduction is reduced by taxpayer tax rate of the previous year. Example National median home price for x year was $200,000. Taxpayer mortgage was $200,001. His tax rate for that x year was 25%. Interest paid-25% is deductable. We could do this wih all deductions,college,medical etc. Why encourage inflation of prices yet do nothing for providing a living wage. How are subsidizing Big Houses/college tutions etc (Energy consuption?)supporting the economy! Income - 10% is all my faith ask of me why is govenment needing more then my faith needs ? Why not remove all social engeneering out of the tax code and focus on a fair income tax! All income(No more blank fed tax blocks on 1099s)will be subject to 10% withholding. Easy to check that the decimal point is in the right spot! Any individual wishes not to have the automatic withholding will be required to pay 12% at years end. 2% cover processing just like credit card! All will pay on all income/SSI(INCOME) etc. Government does not give out gifts! Income tax stops only for those in retirement not for the dependent that can work or have living parents that are non retirees. I have only heard of one immaculate birth that was hundred of years ago. Every child has a mother and father(DNA is available for proof)to support that child and in some circles that child has an extended family too! |