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!
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