D Fayette Wrote:
Dec 06, 2012 9:54 AM
Romney and Ryan caved on raising taxes on the campaign, by saying they'd close loopholes. However, what they really meant, for the most part, they were going to cap deductions. Mortgage and charitable deductions were two prominent ones mentioned. If you want less of something, you tax it more. Capping mortgage deduction will hurt the housing industry, and capping charitable deductions will hurt charities. Boehner needs to pass a bill to extend current rates for ALL tax brackets, and appropriately fund the Defense Department, then adjourn the House. If the Senate, or the President refuse to pass the bill, it is they that took the country over the fiscal cliff.