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Unfortunately, America will probably elect another gimmick President to replace the one leaving office in two years. My money is on a lesbian next time around.
You think Hillary can win? I'm not sure she's up to the task. She looks tired.
Financial engineering, and you dont know the difference between a deductible and a subsidy?
The WSJ uses the terms tax deduction and subsidy interchangeably although technically a deduction is a type of subsidy. WSJ stands for the Wall Street Journal.
MTA has run off, he/she knows they can no longer play words...they did it for 5 years and now, when the truth is finally here....they are scattering, like some dems in congress....
Semantics aside, there's not too much of a difference. Typically, govt's (especially western) subsidize specific behaviors or industries they want to encourage through the tax code.
There is a HUGE difference between a deduction, and a subsidy.. Anyone with a financial engineering background should understand that.
Owning a home and having a mortgage where you deduct your interest from your taxes is a subsidy that is paid by someone else.
The Wall Street Journal will show you where owning your home takes money from SOMEONE else who does not own a home ... (http://blogs.wsj.com/developments/20...e-deduction/):
The U.S. tax code provides generous subsidies to housing, including deductions for home mortgage interest, property taxes and an exclusion from all or part of capital gains taxes on many sales. Many academics favor eliminating or at least scaling back many of these subsidies, particularly the mortgage-interest deduction.
Also this article will help you understand how homeowners take money from someone else(Error — Center on Budget and Policy Priorities
Mortgage Interest Deduction Is Among the Largest Tax Subsidies
Homeowners can currently deduct their interest payments on home mortgage balances up to $1 million from their taxable income. They also can deduct interest on home equity loans of up to $100,000. Within these caps, taxpayers can claim deductions on up to two homes. The mortgage interest deduction is part of a group of deductions known as “itemized deductions,” which also include deductions for charitable giving and state and local taxes. Taxpayers can either itemize their deductions or take the standard deduction ($6,100 for singles and $12,200 for couples in 2013). Only about one-third of filers itemize their deductions. The mortgage interest deduction is considered a “tax subsidy” because it provides a benefit to a particular group of taxpayers; it is the most costly itemized deduction and among the largest tax expenditures.
I know all about the taxcode, even better than some IRS agents.. My tax return last year was OVER 150 pages long, and when I got audited in 2010, I fought for YEARS with them, where they eventually began to try to negotiate me down from the 6+ figures they said I owed them, to finally ZERO when they finally admitted my return was correct.
Allowing people to KEEP THEIR OWN MONEY is NOT a subsidy.. ITS THEIR GOD DAM MONEY..
Give the stupidity a break.. This is why our nation is failing, this utopia thought by many on the left that the government is entitled to all of your money, and if they allow you to keep some of it, its a subsidy..
One of the stupidiest arguments I've heard repeatedly over and over and over again, and no surprise, its always lefties who make it.
The WSJ uses the terms tax deduction and subsidy interchangeably although technically a deduction is a type of subsidy. WSJ stands for the Wall Street Journal.
I dont give a rats ass if some newspaper reporter is wrong. When the government starts to PAY ME to own homes.. its a subsidy.. until then, calling one displays more ignorance than one could ever imagine.
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