Suburban Guerrilla

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Sep 23rd, 2005 at 4:55 pm by Susie

I’ve been predicting this for years. It’s only a matter of time:

WASHINGTON (Reuters) - Tax breaks such as deductions for home mortgage interest and state and local taxes cost the federal government $728 billion last year and need to be reexamined, the Government Accountability Office said in a new report on Friday.

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10 Responses to “The Real Third Rail”

on 23 Sep 2005 at 5:14 pm1Robert

Real Estate Lobbyists - man the battle stations!
on 23 Sep 2005 at 5:18 pm2Izquierdo

These are the main tax breaks that the little guys (i.e., us) are able to get.

Corporations can deduct these expenses, even though they pay proportionately lower taxes. Will they also lose that benefit, or will it just be individuals who get screwed?

This is also a great way to crash the residential real-estate market.
on 23 Sep 2005 at 5:24 pm3Jerri

Are the repugs determined to eliminate the middle class?
on 23 Sep 2005 at 6:38 pm4Agi T. Prop

Well, there goes my house. About 1/3 of all homeowners will foreclose on their mortgages if they repeal that deduction.
on 23 Sep 2005 at 9:12 pm5Uncle Mike

Oh, that’ll be real popular with the American people.
on 23 Sep 2005 at 10:34 pm6Izquierdo

Maybe this is another Rovian ploy.
Float the trial balloon, and then let The Pretzeldent puncture it and be a hero.
on 24 Sep 2005 at 12:37 am7Kathy

Yeah, Bush is really so all about the ownership society, isn’t he? But I’m sure they’ll find a way to make it affect the starter home owners the most.
on 24 Sep 2005 at 2:40 am8Linkmeister

Wait, wait. The GAO is non-partisan. They’re the auditors, essentially. Their job is to point out areas within government that could/will present problems. They don’t advocate.

I wouldn’t even call this a trial balloon.
on 24 Sep 2005 at 8:14 am9Jeff Huber

No new taxes?

This would be cause for revolution, I think.

Jeff
on 24 Sep 2005 at 3:16 pm10Bladerunner

http://www.warresisters.org/wtr_menu.htm