Cost of living is an interesting policy consideration. A $250k household income isn't even close to rich in DC or Northern Virginia. If two earners have college degrees and have worked for the Federal government for more than 15-20 years, then they are likely over that threshold. Modest single family homes here cost $700k, so everything is relative.
Give it to them good and hard. If I was Boehner I would pass a 50% rate and run against Nobama, Reid and Pelosi protecting the Democrat millionaires, billionaires and trillionaires.
We're in fiscal craziness anyhow-F*** 'em all.
I think this is a fine idea, but I'm especially enthusiastic about the mortgage part. Suppose homeowners in expensive coastal cities couldn't deduct their mortgage interest, what would happen? Well, what would happen is that prices would fall. But nothing more dramatic than that.
What a terrible idea, unless you're trying to tank the economy a second time. What would happen is hundreds of thousands of us on the front-end of mortgages would walk, leaving the banks with yet another round of foreclosed properties, which as we've seen has little or no effect on the economy, right?
@russ-you'd walk out on your mortgage and your credit rating would go lower than the toilet floor-sounds fair to me
Yes let's all eat the rich for lunch. Then all those poor people will benefit. You know those poor people that create all the jobs. We will all be content to goose step to Husseins vision of Amerika. Someday we will all rejoice at the fact that we dwell in hovels like Husseins brother. Hussein will drive the "rich" away and then take aim at his real target....the great white middle class. Once vaccinated with HusseinCare they will be much easier to control. Then the Hussein Dynasty can truly begin. Liberalism and statism run amok. With the borders compromised it won't take long for Amerika to be run over with new Democrat voters. (did that already happen?) Rhode Island will qualify for federal funding to add food stamps to the left hand of the (In)dependent Man.
eqSUH9 Been a busy weekend, but I took a little time to refill the Gun Death? magazine as it ran dry with this mornings post. Was talking about a few of the upcoming stories that Im particularly impressed with, and she