Economic malaise, NASCAR dads, & soccer moms...

Re: The forces of evil are at work again....

Hmmm, liberal economist after liberal economist consider the mortgage tax deduction as the biggest tax break for the wealthy there is and you come on here and support it? I think you need to learn a little something about the tax before you let your usual political rhetoric make you look like you do not know what you are talking about. Taxing insurance benefits is an old Democrat idea from the 80's. Since this panel is a bi-partisan panel how do you know it wasn't a Democrat member that brought it up? Do you even read the stuff you post? At least be consistent.

Slate's comment on the mortgage tax deduction:

"A special deduction that disproportionately benefits the wealthy and distorts economic activity has grown rapidly in size and could cost taxpayers nearly $100 billion annually by 2009."

http://slate.msn.com/id/2116731/

 

Re: Re: The forces of evil are at work again....

The average shack in the Silicon Valley is going for $750K. Even with a 20% down payment, that amounts to a mortgage of $600K - which equals a payment of around $3K -- adjustable. We need the mortgage deduction. This is not Kansas where you can buy a decent mobile home on some god forsaken tornado invested prarie for $55K (and work at Wal Mart for $6.50 an hours) To lower the mortgage deduction, or to even consider it, shows that the total tax cut plan under Bushie was to benefit the rich only.

 

I never said we didn't need it....

I just said it was ridiculous for Carl to say it is a sign of Bush's heartlessness towards the middle class when the tax clearly benefits higher income people. Carl claims on one hand that Bush is out for the wealthy and then on the other hand when a bi-partisan committee says we may need to visit the mortgage tax deduction because it clearly disproportinally benefits the rich, Carl attacks the president for tryin to destroy the middle class. Am I the only one who see's the irony in that?

Also, those kinds of prices are very local and the proposal carries a provision allowing for higher localized housing markets. Don't get me wrong. I like my mortgage tax deduction just as much as the next guy, but let's be for real, that complaint coming from Carl was ridiculous......

 

Re: Re: Re: The forces of evil are at work again....

So...you're in favor of benefitting the rich when it also benefits you...but, otherwise you're not?

 

My only point was just to tick off two more blows to the middle class in this country.

1. Potential removal of the mortgage deduction for home mortgages over $250K (which I'm guessing is a sizable percentage of the existing home loans in this country, and clearly within the reach of the middle class - in fact mainly held by members of the middle class). (Personal note - I've owned three houses in the past two years, and two of the three fell squarely into this category in terms of size of my mortgage; the other one is a mere $25K away from the low end of the proposed "cap").

and

2. The possibility of having to pay federal taxes on health insurance benefits over a certain cap, while at the same time health costs and deductibles (out of pocket expenses) are rising - thus squeezing the middle class on both ends of the spectrum (new taxes plus increasing direct out of pocket costs after taxes, some of which can be sheltered under pre-planned tax-deferred medical expense programs - unless the Feds decide to take that crumb away too....)

Both of these topics have been allowed to emerge and perhaps thrive under the "leadership" of George W. Bush. The fact that the President has NOT weighed in with his opinion in order to crush these notions early on is further demonstration that he cares nothing about the middle class, or for that matter any other class than the one that contains the pinnacle of wealth in this country.

Note that none of these changes affect the plutocrat supporters that comprise Bush's political "base" - they already own their real estate (plus many others) scot free, and health insurance is not required since medical costs can be easily covered by the spare change on the dresser.....

Now - if all of that's ridiculous, then I must contend that my opponents "do not use that word the way the rest of us do" (Patinkin, 1987, The Princess Bride).

"EEEENconCEIVable!!"

 

No, not under the leadership of GWB..

Once again, broad statements without a shred of proof to back them up. You don't even bother to use the facts from the very article you posted as support for your claims. You cherry pick to make a very weak point.

I live in a middling affordable housing market and a $300 k home is a mansion in my neck of the woods. I live in the norm not the minority type housing market. You conveniently forget the portion of the article you posted that said the limit would fluctuate with the local market. You also conveniently forget that this is a a "bipartisan" commision simply exploring ways to make the tax system more fair. It is by no means a report endorsed by the president or the Republicans. They haven't even issued a report yet this is just stuff coming out about what is being discussed. Also, taxing medical benefits was the Democrats idea and one of the reasons they lost control of Congress in 1994. As I recall it was our good Senator Kennedy that was an early proponent of it in the Senate.

The fact that the president has not said anything about something being discussed in a bipartisan is only prrof that he is letting them do their job. It is not PROOF of anything else except in the minds of political hacks like yourself. Maybe if he endorsed the report than it would be proof. Until then it isn't proof of anything.

Give me a break....

 

I will only comment on the most important topic in this thread: Soccer. (Or as the rest of the world calls it: football).

Anyone who says soccer sucks has never really properly played it. Its simplicity is beautiful, you just need a few guys, a few coats as goalposts, a small flat area and you have a game of soccer.

My country England has just qualified for the World Cup in Germany next year. My American friends on this forum may or may not know that the USA has also qualified. I strongly urge you to take time to watch some of this, the greatest event on the planet, greater than the Olympics, greater than the Superbowl, the Tour de France, the US Masters, Wimbledon...I could go on...

I am also suprised that it has never caught on in the USA, with the exception of young kids...is this because the big three American sports are so ingrained in the culture that nothing can move them?

(I have to say I am huge baseball fan and always go to an Astros game when I am in Houston...)

I would be interested to know your views on soccer/football!

(Maybe I should of started a new thread, but you might want a breather from the politicising!)

Peace,

Dave C.

 

I seem to remember the existence of a MISL (Major Indoor Soccer League?), at least while I was living in Seattle, and one of their teams was the Tacoma Stars. Unfortunately, the Tacoma Stars folded, but I don't know about the MISL.