[quote=ucodegen]I have covered the problem with eliminating the mortgage interest deduction. It won’t work. Only the rich will be able to work around it, the middle class will get screwed.
[quote FormerSanDiegan]What about the $70 Billion subsidies to big oil companies ?
Let’s cut that first.[/quote]Sounds like a good one to cut.[/quote]
Agreed, ucodegen and FSD. It’s not that I disagree with the arguments that many are making. But, quite honestly, this is the only significant way that most Americans, even those earning very healthy incomes, can shelter it.
I agree that we, as Americans, should be willing to pay the costs of maintaining our nation’s health, safety, and stability. However, the Congress best get busy eliminating tax shelters and loopholes for wealthy corporations and individuals, of which there are an obscene abundance. And, no, I’m not referring to people making $250K/year as “wealthy”, for any reactionaries in the peanut gallery….
I’m perfectly willing to pay taxes on my entire income when corporations and the rich begin to do the same. Hell, at this point, I’d be happy if companies like Exxon and GE would pay corporate income tax on SOME of their profits.
