Eliminating the Estate Tax = No More Mortgage Deduction for Middle Class

[bleedingheart]

That is how we need fight back with the GOP.

Another DUer posted an article tonight about how the GAO is recommending among other things the end of the deduction for home mortgage interest because of the rising deficit. (note: Congress must approve this type of measure first...) The war and Katrina is starting to become a big problem fiscally speaking and something has to give...

Who do we have to thank for this?

Republican senators who have been pleading on behalf of the overstuffed rich kids like Paris Hilton who they feel should not have to pay the estate tax.

Well I have to ask...are American Taxpayers willing to forgo their mortgage interest deduction to make sure that Paris and her little dog can live in luxury wihout a hiccup??

[MissWaverly]

1. No, it will not happen

especially since the American people are having a reality check of
how cash poor America has become, somehow maintaining tax cuts for
the wealthy elite while the rest of the country is coping with disaster
or paying at the pump seems cruel and inhuman right now.

[bleedingheart]

4. I am not counting on Americans waking up

for some reason things have been getting worse and yet the American public has just been asleep...

Look at the Bankrupcy Bill...a more cruel piece of legislation could not have been written to screw the underprivileged and those in poor financial straits...yet Americans were asleep ...until it comes back and bites them hard.

[MissWaverly]

12. the Bankruptcy Bill was different

What we have is a "Winner Take All" society, this has been very prevalent for the last 5 years, cheating, stealing, lying to get ahead
or to maximize a profit has pervaded our society. Tyco, Enron, etc.
But since Katrina, the American people have had a "wake up" call. They
have seen what pissing on those below them does. People are starting
to think of consequences. The "Bankruptcy Bill" passed because people
did not want to be identified with the "needy" and didn't think it would
effect them.

[Poppyseedman]

2. Got a link for that article on the GAO ???

[bleedingheart]

6. here is the link to the DU thread that BigBearJohn posted

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=104x4864989

[Cary]

3. What a wonderful way to send real estate values plumeting!

I wouldn't think they would wish to do this, but then I didn't think they'd be stupid enough to set the dominoes in motion to destroy the S&Ls either.

[msongs]

5. doh! just tell people it WILL happen because ->

that is how the repubs do things - just say something, true or not. Let the opposition deny it over and over. Just saying it makes it true to many people who hear it.

Making false statements is a way to take the initiative and control of the discussion.

Msongs
www.msongs.com/clark2008.htm

[bleedingheart]

8. sadly what I am saying is probably true and therefore no one will

believe it.

[punpirate]

7. The GAO has no power to remove anything...

... they are simply auditors of the government. They might have ended up making that recommendation if Congress refused to repeal the tax cuts (they are, after all, beancounters, and will look for ways to reduce the deficit).

But, they can't do that on their lonesome.

Cheers.

[bleedingheart]

10. yeah but look at Reagan...he sheared a lot of deductions

from the middle class as a way to pay for stuff...it was a tax increase without having to raise taxes.

I sincerely believe that the GOP will screw the rest of us to feed their wealthy base.

[punpirate]

14. Right, but Reagan did it with legislation...

... that's my point. The GAO doesn't have legislative authority--Congress does.

Cheers.

[pinto]

9. Don't know the background, but the GAO has no authority to do this.

It's the General Accounting Office. What you mention is the responsibility of the Congress.

As far as Ms Hilton goes....

[bleedingheart]

11. I edited my post to indicate it is the GAO's recommendation..

however that said...something has to give to pay for the war...

[Cobalt Violet]

13. I wonder how Rove would spin that to the bots.

No doubt if * shits it the bots will be lovin' it like flies even if it's the worse thing for them.