In response to:

Let the Real Fat Cats Pay Their Fair Share

Ken6565 Wrote: Dec 13, 2012 10:54 AM
I get that about half of this is tongue in cheek. I think there's a seriously good idea in redoing the home mortgage deduction, and I think that, rather than giving a deduction for the interest paid, it might make sense to treat the purchase of a first home as a capital expenditure, the entire amount (not just the mortgage) depreciable straight-line over, say, a ten-year period. (this doesn't have to be a difficult thing. You put a line right on the 1040 (not on Schedula A, which I'd like to see eliminated) where, for ten years, you deduct one tenth of the purchase price. This would be limited to one's primary residence; no deduction for vacation homes or city pieds-a-terres, and capped at a total of $250,000, $25,000 per year..
hjismsm105 Wrote: Dec 13, 2012 12:29 PM
There would be no need for any of these discussions and convoluted tax plans if one concept was embraced: a flat tax.
Polly1 Wrote: Dec 13, 2012 8:52 PM
Don't be hoping for a flat tax or the Fair Tax. Politicians MUST have a way to manipulate people and would be giving up waaaay too much power if the tax code were simple.

Who exactly were the rich who, as the president said, were not "paying their fair share"? The rapper Jay-Z (net worth: nearly $500 million)? The actor Johnny Depp (2011 income: $50 million)? Neither seems to have heard the president's earlier warning that, "at a certain point you've made enough money."

Could both zillionaires simply have quit making money at $10 million -- and thereby given their poorer audiences a break on ticket prices?

With all the talk of raising taxes on the supposedly conservative wannabes who make $250,000 per year, why not additionally levy a $3 surcharge on discretionary tickets for...