Tuesday, November 27, 2012

I am in favor of raising taxes on the wealthy.

I agree with Barack Obama that it's time for the wealthiest among us to pay their fair share. That's why I think now is the time to end the massive welfare program for wealthy Blue State welfare queens that those of us who rent or live in reasonably priced houses are forced to pay for.
Many home buyers deduct their mortgage interest when assessing their tax bill, a perk that has helped bolster the income of millions of families - and the broader housing market.
That one subsidy alone costs us $86 billion a year. And while they're at it, eliminate the deductions for property and state income taxes. It doesn't seem fair that I have to subsidize a guy in New York because his property taxes are insane and his state government is so inept and corrupt that they have an income tax. It's time for the Blue State welfare queens to quit stealing from the rest of us. They need to give back for once.


Caddy Wumpus said...

What he said.

NoVa Sideliner said...

Boy is that a hot topic up here in the DC area, with its still-high housing prices and commensurately high mortgages. Add tot hat the state income taxes and local property taxes, and basically every homeowner with any mortgage at all gets that deduction.

Despite my own benefit from that deduction, I think it's best done away with, or phased out rapidly, as was the case in some other countries where I lived. Some of my friends with mortgages that are larger than their grasp of economics/budgets will fight this to the end, though.

Paul said...

All for it. Progressives, right?

Death to McMansions!

Anonymous said...

The red state welfare queens should do the same. No more handouts.

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