It’s also the main reason we cannot move towards a flat tax, because it changes the game too much, too quickly. The government has no intention of reducing everyone’s net worth by a percentage, if they need more money they will just increase the percentage they take or make their own, not target a particular crowd if that crowd is middle class and that crowd drives the economy. They have spent billions to do the opposite, to create tax incentives above and beyond the mortgage interest deduction.
They’ve actually been going the opposite direction, allowing mortgage insurance premiums to become deductable.
PBS has a specific audience, so does Rush Limbaugh, neither are good at making predictions but they are both good at telling their audience what they want to hear.
