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Obama's Budget Seeks to Shrink Tax Benefits of Owning
Wahington Post ^ | 3/8/09 | Kenneth R. Harney

Posted on 03/08/2009 1:10:16 PM PDT by Nachum

The cluster of special federal tax benefits and subsidies for homeowners has long seemed politically untouchable. Those include deductions for mortgage interest, local property taxes and capital gains exclusions on up to $500,000 in sale profits.

Is the Obama administration serious about beginning to limit at least some of these subsidies?

(Excerpt) Read more at washingtonpost.com ...


TOPICS: Front Page News; Government; News/Current Events; Politics/Elections
KEYWORDS: budget; homeownership; homes; nationalization; obama; obamacrash; obamarecession; obamataxhikes; privateproperty; realestate; seeks; shrink; socialism; taxdeduction; taxes
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1 posted on 03/08/2009 1:10:16 PM PDT by Nachum
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To: SumProVita; HardStarboard; BradyLS; Ernest_at_the_Beach; dervish; Twotone; Free ThinkerNY; ...
The list, ping

Full list at www.nachumlist.com

2 posted on 03/08/2009 1:11:02 PM PDT by Nachum (Documented Obama confusion)
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To: Nachum

A new kind of politics ... “TAX & SPEND”


3 posted on 03/08/2009 1:12:00 PM PDT by dodger
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To: Nachum
There is no property ownership in America, only leasing from the government.

If you don't believe me, refuse to pay the lease next year.
4 posted on 03/08/2009 1:13:15 PM PDT by mysterio
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To: Nachum
Do these fools expect a happy outcome in the 2010 elections?Passing a law to cut deductions on mortgage interest is cutting their own throats.
5 posted on 03/08/2009 1:15:30 PM PDT by Farmer Dean (168 grains of instant conflict resolution)
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To: mysterio

Breaks for not paying your mortgage. Penalties for paying it?


6 posted on 03/08/2009 1:16:45 PM PDT by scooby321
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To: Nachum

the unownership society


7 posted on 03/08/2009 1:16:46 PM PDT by ari-freedom (Hail to the Dork!)
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To: Nachum
...and when they say this'll effect "only the rich", remind them that in hyperinflative Zimbabwe, everyone's a zillionaire.

Placing taxes at high bracket levels and then inflating away the value of money is soooooo obvious.

8 posted on 03/08/2009 1:18:06 PM PDT by NativeNewYorker (Freepin' Jew Boy)
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To: mysterio
"There is no property ownership in America, only leasing from the government."

"If you don't believe me, refuse to pay the lease next year."

Yup, you get it. (The American dream...pay till you die)

9 posted on 03/08/2009 1:18:16 PM PDT by blam
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To: Nachum

If they continue to punish the “wealthy” i.e., job creators and achievers, pretty soon there will be none left.

As a small business owner that has a $250,000 of revenue, I’d be looking at cutting costs to recuperate this money. So the Obamabots better not complain about getting a pink slip after they get their “free” health insurance.


10 posted on 03/08/2009 1:18:52 PM PDT by NoobRep
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To: blam

Don’t forget estate taxes! You pay after you die as well!


11 posted on 03/08/2009 1:19:41 PM PDT by ClearCase_guy (American Revolution II -- overdue)
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To: Farmer Dean
"Do these fools expect a happy outcome in the 2010 elections?"

If the Democrats get amnesty passed, it's all over for us/Republicans/Conservatives.

12 posted on 03/08/2009 1:19:53 PM PDT by avacado
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To: Nachum
Hah. I hope all the idiots in the burbs who voted for this clown lose everything because of these tax hikes.
13 posted on 03/08/2009 1:20:01 PM PDT by pnh102 (Save America - Ban Ethanol Now!)
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To: Nachum

Yes, but did he not say that no one who made less than $250,000 per year would pay more in taxes?

Lesson—

Commies Lie-—

Never Trust a Lying Kenyan Commie!


14 posted on 03/08/2009 1:20:06 PM PDT by Texas Fossil
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To: Nachum
I guess it's time to start herding everyone into Soviet-style apartment buildings. Break down the charities, discourage home ownership, and dismantle the health care system. This is President Barack Mugabe's vision for America, known to him as the USKKKA.


15 posted on 03/08/2009 1:20:18 PM PDT by CASchack
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To: Nachum

Clearly this wouldn’t apply to our hard working, indispensable elected officials! After all, the interest deduction on more than one home was begun for them. Can’t see any of it going away—for them, that is.


16 posted on 03/08/2009 1:20:59 PM PDT by Oldpuppymax (AGENDA OF THE LEFT EXPOSED)
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To: dodger

no...it’s called neo marxism- it’s not for personal consumption rather the good of the commune including the freeloaders...


17 posted on 03/08/2009 1:21:00 PM PDT by God luvs America (When the silent majority speaks the earth trembles!)
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To: mysterio

Where my parents live, no property taxes for owners over age 65.


18 posted on 03/08/2009 1:21:10 PM PDT by jabchae
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To: Nachum
"....subsidies?"

They called them "subsidies"!

19 posted on 03/08/2009 1:22:11 PM PDT by ChicagahAl (Don't blame me. I voted for Sarah.)
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To: Nachum
Of course the ‘O’ wants to do that. There can be no private ownership in the Socialist State. Everything and everyone, whether living or dead belongs to the State.
20 posted on 03/08/2009 1:22:16 PM PDT by SandRat (Duty, Honor, Country! What else needs said?)
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