Comment: l. President Bush wants Americans to be homeowners. The current tax code favors those wealthy enough to have large home loans and very large mortgage interest deductions. Either the elimination of tax deduction or the allowance of a standard deduction for mortgage interest would be preferable to the current system. 2. President Bush encourages faith-based initiative. I would continue to support the deduction(s) for charitable contributions and would also support the taxation of churches who own large businesses, either directly or indirectly through different holding companies. Church members tithe to further the work of God; God does not invest in race tracks, cattle ranches, soft drink companies, etc. 3. I would support a higher tax on gasoline that could be phased in over a period of time. This would encourage conservation among private consumers. It would also encourage auto makers to adopt more efficient engine designs--such as the hybrid--and possibly encourage alternative fuels. Those who can afford hybrid automobiles could be encouraged to purchase same through tax deduction of a specified amount. And, once the "shortage" has eased, taxes could be increased. 4. A national consumption tax should be enacted and enforced. Luxury automobiles, boats, furs, and jewelry over a certain amount. 5. I would support the elimination of the estate tax and long-term capital gains taxes. Americans are taxed when they make the money they save, they are taxed on the capital gains on their investments and their heirs are taxed on their inheritance. That amounts to triple taxation. 6. I definitely support the elimination of certain deductions and the simplification of the tax code. Higher taxes and fewer deductions are inevitable, but simplification of the tax code(s) is so critical! Thank you. Andria Lovelady P. O. Box 249 Carlsborg, WA 98324 |