Romney floats deduction cap

Romney floats deduction cap

There are 16 comments on the www.politico.com story from Oct 5, 2012, titled Romney floats deduction cap. In it, www.politico.com reports that:

Mitt Romney floated the idea of a $17,000 limit on itemized tax deductions Tuesday night - and is likely to get a quick lesson in the risks of providing details about his tax plans.

While a $17,000 limit would hit hardest on people in the highest tax brackets, it would take a bite out of a lot of homeowners who live in places where housing prices are high. A $500,000 mortgage, for example, would require interest payments that would exceed a $17,000 cap...

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“It's a Brand New Day”

Since: Feb 06

New Rochelle

#1 Oct 5, 2012
And Mr. Romney's deduction "cap," unless mortgages are excluded, would be to put many more homeowners "under water;" and that would further deperess the critical HOME SALES componant of the economy in our economic recovery.

And taxing health benefits and donations to religious and other charities would not really help anyone, except the weathy; who will get a great tax cut from Mr Romney.(Read the article carefully.)

No?

Since: Nov 08

Location hidden

#2 Oct 5, 2012
Mr_Bill wrote:
And Mr. Romney's deduction "cap," unless mortgages are excluded, would be to put many more homeowners "under water;" and that would further deperess the critical HOME SALES componant of the economy in our economic recovery.
And taxing health benefits and donations to religious and other charities would not really help anyone, except the weathy; who will get a great tax cut from Mr Romney.(Read the article carefully.)
No?
Obama wears a DUNCE cap after that weak performance in the debate. Now. Go sit in the corner Mr. Bill and face the wall.
Eleanor

Vernon Hills, IL

#3 Oct 5, 2012
Anyone who can afford a $500,000 mortgage could still deduct $17,000 in interest.

Anything beyond that would cost them a little more in taxes.

A little more in taxes for the upper class and a little less for the middle class is what everyone has been asking for.

Since: Jul 10

Location hidden

#4 Oct 5, 2012
Without putting limits on adjustments, exemptions, credits, and other taxes, it would not effect the ultra-rich very much if any at all. It is an easy matter for businesses and ultra-rich to shift tax considerations from Itemized Deductions to other forms of calculations.

There is much more to a tax filing than Itemized Deductions, unless one is in the Middle, where the upper middle would be hardest hit by Romney $17,000 proposal. It would leave the top and bottom in same or better shape while taking more from the Middle.

Since: Nov 08

Location hidden

#5 Oct 5, 2012
People don't realize that there are three kinds of lies:
Lies
Damned lies
And Statistics.

I'm sick and tired of shithouse economists.

Since: Jul 10

Location hidden

#6 Oct 5, 2012
Eleanor wrote:
Anyone who can afford a $500,000 mortgage could still deduct $17,000 in interest.
Anything beyond that would cost them a little more in taxes.
A little more in taxes for the upper class and a little less for the middle class is what everyone has been asking for.
==========
Don't be fooled.

Without putting limits on adjustments, exemptions, credits, and other taxes, it would not effect the ultra-rich very much if any at all. It is an easy matter for businesses and ultra-rich to shift tax considerations from Itemized Deductions to other forms of calculations.

There is much more to a tax filing than Itemized Deductions, unless one is in the Middle, where the upper middle would be hardest hit by Romney $17,000 proposal. It would leave the top and bottom in same or better shape while taking more from the Middle, another hit on the middle.

No one is looking out for the middle. Obama maybe a little more than Romney.

Since: Nov 08

Location hidden

#7 Oct 5, 2012
Obama is good at only one thing. Taking a molehill and turning it into a mountain...of debt.
Cracker

Festus, MO

#8 Oct 5, 2012
Obama (the terrorist) and his racist administration is destroying America's economy .
Obama is a TERRORIST that should be tried for treason and HUNG !
Obama refuses to uphold our laws, while suing Americans and rewarding illegal aliens .
Obama just handed out thousands of work permits to these criminals , while millions of Americans are unemployed .

I want to see Obama's neck stretched .
:)
(death to all illegal aliens)
Obama sucks d_ck, Obama has already lost

“It's a Brand New Day”

Since: Feb 06

New Rochelle

#9 Oct 5, 2012
Eleanor wrote:
Anyone who can afford a $500,000 mortgage could still deduct $17,000 in interest.
Anything beyond that would cost them a little more in taxes.
A little more in taxes for the upper class and a little less for the middle class is what everyone has been asking for.
Because of the high cost of living, there are no hoses under 500,000 around our majoc cities.

If Mr Romney introduced a regional cost of living (RCOLA) adjuster, he might have something that would fly.

“It's a Brand New Day”

Since: Feb 06

New Rochelle

#10 Oct 5, 2012
WMCOL wrote:
<quoted text>
==========
Don't be fooled.
Without putting limits on adjustments, exemptions, credits, and other taxes, it would not effect the ultra-rich very much if any at all. It is an easy matter for businesses and ultra-rich to shift tax considerations from Itemized Deductions to other forms of calculations.
There is much more to a tax filing than Itemized Deductions, unless one is in the Middle, where the upper middle would be hardest hit by Romney $17,000 proposal. It would leave the top and bottom in same or better shape while taking more from the Middle, another hit on the middle.
No one is looking out for the middle. Obama maybe a little more than Romney.
The greatest tax break is the lower rate on capital gains, and other special treetments for high income..
Makes sense

Dearborn, MI

#11 Oct 5, 2012
Mr_Bill wrote:
And Mr. Romney's deduction "cap," unless mortgages are excluded, would be to put many more homeowners "under water;" and that would further deperess the critical HOME SALES componant of the economy in our economic recovery.
And taxing health benefits and donations to religious and other charities would not really help anyone, except the weathy; who will get a great tax cut from Mr Romney.(Read the article carefully.)
No?
Just STOP IT!

Unemployment Falls to 7.8%. That's an outrageous lie by the MSM.

Since: Jul 10

Location hidden

#12 Oct 5, 2012
Mr_Bill wrote:
<quoted text>
The greatest tax break is the lower rate on capital gains, and other special treetments for high income..
==========
Yup, that comes under "adjustments, exemptions, credits, and other taxes".
Makes sense

Dearborn, MI

#13 Oct 5, 2012
No one wants details until AFTER the election.

“It's a Brand New Day”

Since: Feb 06

New Rochelle

#14 Oct 5, 2012
Cracker wrote:
Obama (the terrorist) and his racist administration is destroying America's economy .
Obama is a TERRORIST that should be tried for treason and HUNG !
Obama refuses to uphold our laws, while suing Americans and rewarding illegal aliens .
Obama just handed out thousands of work permits to these criminals , while millions of Americans are unemployed .
I want to see Obama's neck stretched .
:)
(death to all illegal aliens)
Obama sucks d_ck, Obama has already lost
Go wash the poop out of your sheets. There's a meeting tonight, and you smell like shit.

Since: Nov 08

Location hidden

#15 Oct 5, 2012
Romney is a much better speaker than Obama. Hands down. I believe that because he knows the issues and remembers them with out the help of a teleprompter. We need that in a leader. His IQ is probably 20 points higher than Obama's.
We need a serious intelligent person as the leader of the free world. Not an empty suit that needs constant coaching from Jarrett and Ploffe, as Obama seems to prefer.
His heavy reliance on a teleprompter to speak makes me think Obama may have a neurological or mental disorder related to memory and logic processes.

“It's a Brand New Day”

Since: Feb 06

New Rochelle

#16 Oct 5, 2012
Eighthman wrote:
Romney is a much better speaker than Obama. Hands down. I believe that because he knows the issues and remembers them with out the help of a teleprompter. We need that in a leader. His IQ is probably 20 points higher than Obama's.
We need a serious intelligent person as the leader of the free world. Not an empty suit that needs constant coaching from Jarrett and Ploffe, as Obama seems to prefer.
His heavy reliance on a teleprompter to speak makes me think Obama may have a neurological or mental disorder related to memory and logic processes.
No.
President Obama is a better speaker; but Romney is a better debater. He dominated the monitor, while Obama followed the rules.

Obama made the same mistake with the tea-bag congress. He played by the rules, and they did nothing at all for two years. I would have whip-sawed them.

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