Eric4953 Wrote:
Jun 29, 2012 10:10 AM
I have a great amount of respect for Neal, but I have to disagree with his 'unlimited ability to tax' arguement. It a The Federal Government has been doing this for years, only they've been doing in a reverse way. Here's what I mean. Today, we pay an income tax. Then government says that if you perform a certain activity (pay a mortgage, install energy efficient appliances or windows, etc), then you can deduct that from your income for tax purposes and recieve a refund. It's the same thing, it is just applied in the opposite way... Health Insurance... pay $x income tax No Health Insurance... pay $x income tax + $2500 Income, with no mortgage.... pay $y Income, with mortgage... pay $y - (marginal rate x interest expense)