Tax bill effects on homeownership.

[emu steve]

A few points Emu.

1. It's not about being able to afford to pay more taxes, it's about being fair. Why should anyone get away with not paying at all? Last I heard, > 40% pay no federal income tax. I'm not here to carry their load.

2. America cannot afford to ratchet up its debt on welfare. Those that pay should get the breaks and as harsh as it sounds, those that don't, should have to learn to live with less.

3. Business cycles transcend political terms. Clinton got lucky inheriting an economy at the dawn of a major tech boom. Bush pushed his luck with it, not to mention getting us stuck in a bullshit WoT quagmire.

Are you replying to me? Bust??????

I'm talking about the deductability of interest on home equity. I believe home equity loans have been in the tax code at least going back to the 1986 tax law, if not longer.

I have no problems with changing tax rates, but I'm not in favor of re-writing significant parts of the code. Tax payers make strategic decisions based on the existing code and wholesale changes mess up planning.