Posted: Oct 12, 2005 By: Charles M. Floyd

Subject: Mortgage interest exemption, and reform in general

Comment: Members of the Panel,

I read an article today in the LA Times that indicated your consideration in reducing the cap on the home mortgage interest deduction. Let me begin by saying that I am strongly opposed to any measure which would increase the taxes on families in America. This option is a particularly poor choice. Reducing the amount of free capital that working families have to spend would cause a downturn in consumer spending and could ultimately result in a shrinking economy.

Second, as your panel is tasked with simplifying the tax code, let me recommend that you look more closely at the Fair Tax Plan (HR 25). I believe this to be the best solution for all Americans in terms of paying taxes. It is also the best option going forward for our country, as it would enable huge economic growth in all sectors of our economy. It has the added benefit of taking power away from an organization that routinely violates the rights of American families with impunity (the IRS).

Please consider the opinion of a humble American worker, husband, father, and taxpayer as you deliberate the best ways to bring tax reform to our great nation.

Charles M. Floyd
Decatur, Georgia