A super committee deal in the works?
What kind of a deal is this?
One positive development on taxes taking shape is a deal that could include limiting tax deductions, perhaps by capping write-offs on charities, state and local taxes, and mortgage interest payments as a percentage of each tax filer’s gross income,” he wrote. “In exchange, Democrats would agree to make the Bush income-tax cuts permanent. This would mean preventing top rates from going to 42% from 35% today, and keeping the capital gains and dividend tax rate at 15%, as opposed to plans to raise them to 23.8% or higher after 2013.
You give me your house and in exchange, you give me your car too? If the Dems are stupid enough to buy into this garbage, the deserve to disappear as a party.
posted by walldon | 10:41 AM
2 Comments:
And since when was the top tax rate before Bush's tax cuts 42% (instead of 39.6%, which is what it was? That should be another bracket for, say, taxable income over $1 million (which means most likely about $1.5 million in gross income, or, in common language what someone "makes," i.e., a mere $125,000 a month). And while we're at it, 45% would be good on taxable income above, say, $10 million.
But in any case, what should be isn't what was.
Simply the typical evasive tactics of the 1% to get cover from paying their share of taxes and dumping it on the 99% who benefit the most from the mortgage interest deduction.
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