Re: [FairfieldLife] Re: Bush Tax Panel Recommendations
anonymousff wrote: Tax breaks for homeownership particularly help the wealthy while lower-income people don't get enough benefits, said panelists such as Liz Ann Sonders, the chief investment officer at San Francisco-based Charles Schwab Corp. The current incentives, including the fact that most home sales are tax-free, are driving up home prices, making them unaffordable or pushing lower-income borrowers to take out risky mortgages. ``We are starting to see some significant pain here,'' Sonders said. The panel agreed to a proposal by former IRS Commissioner Charles Rossotti to make it easier for lower income Americans to get a tax break for donating money to charity. This is just more pure b.s by the PResident and his cronies who are easily the biggest crooks and liars and distorters of reality than have ever run this country. Reading their b.s is like being on a bad acid trip which I have had. One of the benefits of owning a home for the lower income people is the tax benefit. How many impoverised people are likely to increase the money they donate?! What a bunch of amazingly crooked s**t. I agree, you have to watch this bunch like a hawk before they pick your pockets. Yahoo! Groups Sponsor ~-- Get fast access to your favorite Yahoo! Groups. Make Yahoo! your home page http://us.click.yahoo.com/dpRU5A/wUILAA/yQLSAA/JjtolB/TM ~- To subscribe, send a message to: [EMAIL PROTECTED] Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!' Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[FairfieldLife] Re: Bush Tax Panel Recommendations
It seems that getting health insurance is just a losing game. S Corps cannot deduct, as an expense, health insurance paid for employees, C corps can deduct it. If you pay for your own health insurance and are self employeed, you can deduct it. Now they want to tax the health insurance benefit? This is weird. I read that the interest deduction would be limited to primary residence. Seems to me, that this change hurts the middle class, which is quickly dwindling. Yahoo! Groups Sponsor ~-- Get fast access to your favorite Yahoo! Groups. Make Yahoo! your home page http://us.click.yahoo.com/dpRU5A/wUILAA/yQLSAA/JjtolB/TM ~- To subscribe, send a message to: [EMAIL PROTECTED] Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!' Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[FairfieldLife] Re: Bush Tax Panel Recommendations
Tax breaks for homeownership particularly help the wealthy while lower-income people don't get enough benefits, said panelists such as Liz Ann Sonders, the chief investment officer at San Francisco-based Charles Schwab Corp. The current incentives, including the fact that most home sales are tax-free, are driving up home prices, making them unaffordable or pushing lower-income borrowers to take out risky mortgages. ``We are starting to see some significant pain here,'' Sonders said. The panel agreed to a proposal by former IRS Commissioner Charles Rossotti to make it easier for lower income Americans to get a tax break for donating money to charity. This is just more pure b.s by the PResident and his cronies who are easily the biggest crooks and liars and distorters of reality than have ever run this country. Reading their b.s is like being on a bad acid trip which I have had. One of the benefits of owning a home for the lower income people is the tax benefit. How many impoverised people are likely to increase the money they donate?! What a bunch of amazingly crooked s**t. Yahoo! Groups Sponsor ~-- Get fast access to your favorite Yahoo! Groups. Make Yahoo! your home page http://us.click.yahoo.com/dpRU5A/wUILAA/yQLSAA/JjtolB/TM ~- To subscribe, send a message to: [EMAIL PROTECTED] Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!' Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[FairfieldLife] Re: Bush Tax Panel Recommendations
--- In FairfieldLife@yahoogroups.com, m2smart4u2000 [EMAIL PROTECTED] wrote: It seems that getting health insurance is just a losing game. S Corps cannot deduct, as an expense, health insurance paid for employees, C corps can deduct it. If you pay for your own health insurance and are self employeed, you can deduct it. Now they want to tax the health insurance benefit? This is weird. There should be equal deductions across teh board for all types of employees and business owners. The propose deduction cap is $11,000 / year which covers most employees. It would simply cap some high cost executive policies. I read that the interest deduction would be limited to primary residence. Seems to me, that this change hurts the middle class, which is quickly dwindling. Tax incentives are intended to have a purpose -- not just a giveaway to a large block of voters -- which mortgage deductibility has become. The original and only sound economically justifiable intent is to encourage INCREASED home ownership. That is, to subsidize the marginal buyer, lower income, first time buyers -- entry level buyers. A $350,000 mortgage deductibility cap does that in almost all markets. I think its overkill, and should be limited to 100k. The deduction is a drag on the economy. It induces higher investments in housing at the expense of capital investments which improve [productivity -- which is the main driver of wage rates. Wages and salaries, as well as the rate of technological innovation, are lower than they could / should be, year after year, due to the high mortgage deductibity limits which benefit the wealthy far more than the middle class. As if we need an incentive for people to upgrade from a 4,000 sf house to a 6,000 sf house! Yahoo! Groups Sponsor ~-- Get fast access to your favorite Yahoo! Groups. Make Yahoo! your home page http://us.click.yahoo.com/dpRU5A/wUILAA/yQLSAA/JjtolB/TM ~- To subscribe, send a message to: [EMAIL PROTECTED] Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!' Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[FairfieldLife] Re: Bush Tax Panel Recommendations
--- In FairfieldLife@yahoogroups.com, anonymousff [EMAIL PROTECTED] wrote: Tax breaks for homeownership particularly help the wealthy while lower-income people don't get enough benefits, said panelists such as Liz Ann Sonders, [she is a total babe, btw] the chief investment officer at San Francisco-based Charles Schwab Corp. The current incentives, including the fact that most home sales are tax-free, are driving up home prices, making them unaffordable or pushing lower-income borrowers to take out risky mortgages. ``We are starting to see some significant pain here,'' Sonders said. The panel agreed to a proposal by former IRS Commissioner Charles Rossotti to make it easier for lower income Americans to get a tax break for donating money to charity. This is just more pure b.s by the PResident and his cronies who are easily the biggest crooks and liars and distorters of reality than have ever run this country. Reading their b.s is like being on a bad acid trip which I have had. And what specific tax policy recomendations do you disagree with. For the most part, they look courageous and represent changes that are long overdue. One of the benefits of owning a home for the lower income people is the tax benefit. And what is the economic benefic / justification for that? Without deductions above 350,000, house prices will fall, allowing greater affordability. And the economy will be stronger, wages and salaries will increase. Technology innovation will increase. Mortgage deductions, except perhaps at the very lowest end, are quite unsound from an economic policy perspective. And a $350,000 cap will not affect the average US bmost buyers -- the average and median priced home is still below $350,000 What a bunch of amazingly crooked s**t. I understand you are angry at Bush. Going beyond that, and focusing on the the tax proposals,what specific tax policy recomendations do you disagree with? Yahoo! Groups Sponsor ~-- Get fast access to your favorite Yahoo! Groups. Make Yahoo! your home page http://us.click.yahoo.com/dpRU5A/wUILAA/yQLSAA/JjtolB/TM ~- To subscribe, send a message to: [EMAIL PROTECTED] Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!' Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
