Subject: Double Taxation Comment: If the panel doe's away with the State and local income tax deduction, this would be double taxation, due to the following logic. 1.This money was paid out as a tax, to do away with it and call it income when in fact the person never received it, in the first place because it was deducted to pay a tax. By saying you can no longer deduct it, is double taxation, because it was a tax paid, and now your saying it is income to be taxed again. Also this has been done in the past with Social Security.Exsample,they take over $5000 per year from my income to pay in to SSI.I have to claim the $5000 as income, this is income I never saw, why should I pay tax on it. And why limit the withdrawn amount to a high income, if you are going to with hold, do it on all income level and remove the cap, that only the upper 2% of Americans can reach. If 98% of us have to pay it on our income, then let the 2% that can afford it pay in to the sys,with no cap Manny |