Thursday, January 22, 2009

Because it's just not fair

Create a White House Office on Urban Policy: President Obama and Vice President Biden will create a White House Office of Urban Policy to develop a strategy for metropolitan America and to ensure that all federal dollars targeted to urban areas are effectively spent on the highest-impact programs. The Director of Urban Policy will report directly to the president and coordinate all federal urban programs.

Lower Interest Payments by Creating a New Mortgage Interest Tax Credit: Many middle class Americans do not receive the existing mortgage interest tax deduction because they do not itemize their taxes. Obama and Biden will ensure that middle-class Americans get the financial assistance they need to purchase or keep their own home by creating a 10 percent universal mortgage credit that gives tax relief to 10 million Americans who have a home mortgage.

Why do middle class Americans not itemize their taxes? BECAUSE THEIR STANDARD DEDUCTIONS ARE SUFFICIENT! Standard deductions, like your children, can be enough to completely erase your federal tax burden so there is no need to go looking for that donation receipt to Goodwill.

A mortgage credit is just another way to "spread the wealth" to people who don't pay federal income tax. A credit is different than a deduction.

A deduction is liking a 5% off coupon you use at Wal-Mart. A credit is like Wal-Mart sending you money even though you don't shop there.

Read the whole urban policy and be afraid.

10 comments:

Anonymous said...

Congratulations, Daniel! I didn't realize that under the Obama administration you had been appointed spokesperson for the American middle class family. Does the job pay well?

OregonGuy said...

Just what we need, a Federal overseer for cities.

I guess the idea of Mayors and Councils was just not changey enough. Imagine, leaving cities to manage their own affairs.

I'm glad that the Obama folks have finally realized that we're not to be trusted. Even when it comes to managing our own cities.

Change!
.

Robin said...

or they don't itemize because it cost so much to have someone do it.

Anonymous said...

Just what we need , more goverment control at the federal leval .(not)People be afraid be very afraid !
It's only going to get worse .

Anonymous said...

Everyone, please help me understand your positions here.

W's fiscal and economic policies - with tax-breaks for the wealthy and deregulation as centerpieces - have resulted in a national economic crisis of monumental scale and surging unemployment.

Are you all saying that you would prefer that government doesn't step in to alleviate these problems? Would you prefer that they just let the current scenario run its course? Or do you disagree with what they are proposing? What would you propose instead?

DAVE01 said...

Anon 12:12 PM
I have heard that under Bush's tax cuts, the government had 20% higher revenue.

You said: with tax-breaks for the wealthy

If I remember correctly, the people at the top 2-3% of income pay about one third of the taxes. I could be wrong in those exact number, but the small percentage of the really rich pay most of the taxes. So, you are telling me that they don't deserve a break.

There are a shit load of people with kids that don't pay no taxes. A shitload of poor people get money from the federal government and don't pay into it. I am a single white male and pay a lot of taxes. I don't make a ton of money. My girlfriend has one child and makes about the same as I do. I pay a lot more than her. I think it's due to that Earned Income Credit and other crap.

You are the usual uneducated individual. My sister and her husband probably pay a lot more in taxes than you make in a year. My sister does cancer research. Her husband works for Microsoft. He is the main breadwinner. She works to pay their taxes which is over $150,000 per year.

You need to take a tax form and try running some numbers in it.

You are blaming W for this economic mess. Are you telling me that he writes all the laws. If that is true, I will have to retake my US government classes. I learned everything wrong. Didn't a lot of this mess really get bad about two years ago when the Democrats took control of congress? Wasn't it Barney Franks (with a big D by his name) who wanted fannie and freddie to give home loans to poor people and illegals? Wasn't it Clinton who ramped up the CRA (created by Carter)? Aren't all those people Democrats?

A lot of people are to blame. Bush is to blame because he did not veto shit.

Before you start throwing blame around, find out the facts and stop listening to CNN.

The government caused most of this problem. You want them to step in and fix it?

Watch this video.
If you have AN open mind. I really doubt it.
http://www.youtube.com/watch?v=_MGT_cSi7Rs

The democrats say everything is fine with freddie and fannie. Republicans are trying to do something about the mess.

Now, we get to pay for this mess. So, up yours and you pay my share. Put your money where your mouth is.

Anonymous said...

Well said Dave !
The goverment got us into this mess , they will only make it worse . Everyone tell big goverment to get out of the way and let the privete sector fix it!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Anonymous said...

LOL!!! Eight years of Bush/Cheney letting the private sector run batshit wild, and now the idiot Anon wants to let the private sector "fix" it.

DAVE01 said...

I forgot to mention that if Obama raises taxes on her and here husband, she will quit working. Won't that be nice for all the people that will die because she decides not to work anymore. She is the key person in here company. Then, the company may fold which will put more people out of work.

How many other people are in this situation?

Does anyone remember when Bill Gates was in front of congress last summer asking for more hi-tech visas? Now they are laying off five thousand people.

I would love to ask him if he still wants more hi-tech visas!
That way he could lower his expenses and put more money in his pocket. What a dirtbag, he is stinking filthy rich. He could support those five thousand people from the interest on his money.

Anonymous said...

anon 8:12
look at the facts. dems made the fannie and freedy mess. then they wouldn't let bush fix it . now you want to blame bush . Yes he should have tried harder , but place the blame were its due . and no I am not a supporter of bush . Just a person that looks at the facts .
well said dave about the taxes !