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Have you hear recently that the Obama administration is seeking to limit the mortgage interest deduction for people and families with incomes in the 250k and up? To top it off they are also seeking to almost remove the charitable tax deduction for those who make 250k and more annually. The Economy killer
Here is an idea, why doesn't the government save us all alot of agony and shoot is right into a full depression? Why drag it out for all of us, just raise taxes on everybody all at once so that we can finance this pork paloosa of his?
Were you aware that it isn't just the housing market, churches and all non profit organizations that will suffer from these dismal ideas of the Obama administration. We will all suffer. Many of these non profits are avenues of significant kindness and blessing for those in need. They are able to provide these services to needy people because of our generosity. Why would the Obama administration be trying to stifle these organizations. Just in case he was not aware, when you make more, most of the time you give significantly more, if you just go by percentages alone. Some of our wealthiest people give charitable donations because it is fiscally responsible on their part. They may not necessarily be religious or have good will toward all men. They may just give because if makes sense. Guess who will not be giving when you take the incentive away.
I am starting to think that the government would like to be everyones sugar daddy and have us all dependent on them. When will the insanity stop?
Well, back to the mortgage interest deduction. Have you heard of the trickle down effect? Yes, when you start penalizing the top income brackets it eventually trickles down to us? It isn't always immediately, but eventually you will feel it. I am so sick and tired of this class warfare the Obama administration has engaged in. I am not jealous of envious of the richest in our country. I do wish I had more money, but I am working harder each day to meet my financial goals. I will not have any incentive to do this if I know I am going to pay increasingly more to the government.
Please consider the long term effects of you decisions President Obama (or maybe you already have). I know that you are trying to pay down the national debt (which you recently added 2 additional trillion to in 1 month) but penalizing the rich to pay for your projects will not meet your goals.
President Obama, remember telling us that you were for small business and you were going to provide us with legislation to help spur small business? Everywhere I turn small business is cutting back significantly. I know that you said that your stimulus package would add or save 3.5 million jobs, but are these government jobs? Oh yeah, remember when you said that you will reduce government spending? I can't say that I have observed that yet? President Obama, I ask you for the sake of Realtors and for all of America to please keep your promises. STOP WASTEFUL GOVERNMENT SPENDING!
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.