--- In [email protected], Bhairitu <[EMAIL PROTECTED]> wrote: > > new.morning wrote: > > Flat Tax of (about) 17%. Starting at income above $30,000 for singles, > > $50,00 for families. Or whatever above that which keeps the flat tax > > from being regressive -- and balances the books. > So how would you handle the mortgage interest deduction? >
Eliminate it. Along with deductions for home equity loans (what a scam). Eliminate all deductions. As well taxes on capital gains, interest and dividends. Unless you are living in a 1,000,000 home, the so called "rich" are gaining MUCH more from the mortgage deduction than you (the average reader) are. Even a two tier tax would be fine in my book. No taxes up to 50,000, 10% for 50,001-100,000, 18% after that. With no deductions and no (double) taxation on savings in whatever form).
