Unfortunately while it sounds like a good idea to "help" home owners via a mortgage interest credit so they do not have to itemize the truth is that the mortgage interest deduction like the deduction for property taxes is a subsidy to homeownership that results in higher prices for homes. Ask any economist or realtor. This is another prime example of an unintended result from ill conceived government tax policies. Current homeowners get a break but all future buyers pay more. Break nullified.
So, he'll lower income taxes for people who make less than $50,000 per year... So people like me, who make $55,000 will end up paying more.. uh huh...
How is Obama going to give all this money back to the people? Is he going to drastically cut gov't spending? If not he'll have to tax us in some other way to give us money. It'll all equal out or it'll cost us more! What is he going to do about the federal reserve?
inflation = robery
inflation deflation = slavery
xlightwavex 3 years ago
remember unfair taxation
hey remember what jefferson said
"if americans ever allowed private banks to control its money supply their children would wake up homeless in the land their fathers conquered "
guess what
the federal reserve prints the money
and it is a privately owned super central bank hummm
few people know that the main cause of the revolutionary war was forced inflation
by the british
you really think people goto war cause tea prices are too high?
xlightwavex 3 years ago
Unfortunately while it sounds like a good idea to "help" home owners via a mortgage interest credit so they do not have to itemize the truth is that the mortgage interest deduction like the deduction for property taxes is a subsidy to homeownership that results in higher prices for homes. Ask any economist or realtor. This is another prime example of an unintended result from ill conceived government tax policies. Current homeowners get a break but all future buyers pay more. Break nullified.
ourearthhome 3 years ago
So, he'll lower income taxes for people who make less than $50,000 per year... So people like me, who make $55,000 will end up paying more.. uh huh...
paulitics08 4 years ago
He's not going to close corporate loopholes or crack down on international tax havens, he'll be paid off if he's not already.
AHgreentea22 4 years ago
How is Obama going to give all this money back to the people? Is he going to drastically cut gov't spending? If not he'll have to tax us in some other way to give us money. It'll all equal out or it'll cost us more! What is he going to do about the federal reserve?
AHgreentea22 4 years ago
Read the plan the listen to the whole speech.
He will close corporate loopholes and crack down on international tax havens. He will also
pay for the middle class tax relief by increasing the highest bracket for capital gains and dividends and closing the carried interest loophole.
Unless you're a big corporation who is finding loopholes in the system or a ultrarich investor it won't hit you.
PopulistaProductions 4 years ago
His whole speech is based upon the premise that the money is the his and he gets to decide who keeps it. THat's just wrong and it also unamerican.
yardometer 4 years ago