fair tax www.fairtax.org <outbind://677/www.fairtax.org>
________________________________ From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Dennis Henderson Sent: Friday, September 28, 2007 3:37 PM To: [EMAIL PROTECTED] Cc: funsec Subject: Re: [funsec] Very scary..... On 9/28/07, [EMAIL PROTECTED] <[EMAIL PROTECTED] > wrote: One of the worst government welfare programs around is allowing folks to deduct their mortgage interest and property taxes from their federal tax returns. Another bad program is excusing capital gain taxes on the first $500K of profits when a married couple sells their house. Richard Nah earned income credit is actually a fed "welfare program". You can actually get back more money from the govt, than you paid in. The govt goes to great lengths to make sure that people who actually earn a lot of money pay "their fair share". The annual means test that limits how much I can put in my 401k is another "screw the wealthy" limitation. And how would you compare deductible mortgage interest to the child credit that comes right off the tax bill? Who does that benefit?
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