I was reading the various reports of the plan the House Republicans proposed, which was immediately rejected by Obama, and realized that their plan would raise taxes on all homeowners in order to avoid raising the taxes on the wealthy.
The GOP plan was to reduce the tax deductions on things like mortgage interest and charitable donations.
If you get less of a deduction for your mortgage interest and charitable donations, which includes church tithing, then guess what? You’ll pay more income tax!
House Republicans are throwing us under the proverbial bus in order to make it look like they are standing strong against any tax increases on the wealthy.
I agree that at this stage in the economy, we can’t afford to increase taxes on the wealthy because they are the ones that employee the rest of America. If they have to pay more, they’ll hire less people. Some economists say that if the Bush era tax cuts on the wealthy are allowed to end, that it could result in the loss of up to 700,000 jobs, and that’s the last thing America needs right now.
Both the Republicans and Democrats are looking for ways to increase revenue when that isn’t our problem. Our problem is spending. Congress needs to cut spending!
To start with, let’s cut out the billions of dollars we’re sending to countries like Egypt, Iraq, Pakistan and Afghanistan. We really don’t need the Department of Education or the Department of Homeland Security among others. Oh yeah, what about the hundreds of millions of dollars being given to Obama’s homeland of Kenya?
Billions could be saved if we eliminated many entitlements such as free cell phones to poor people and benefits to illegal aliens. Many other entitlement programs could be cut or greatly reduced and replaced with programs that force people to work and provide for themselves.
Anyone with a brain and common sense could easily slice out a trillion dollars or more from government spending and that would eliminate any need to raise taxes or reduce deductions on anyone. If Republicans were as responsible as their constituents want them to be, then they wouldn’t be trying to sacrifice our taxes for the sake of the wealthy.