Hows the future of the usa look to you

[Jello]

Of course it will. Eliminate Mortgage Interest deductions, and, more importantly, tax capital gains at the same rate as earned income, and watch the deficit fall. The current system rewards gambling that produces ZERO jobs and ZERO products, and punished those who engage in labor.

And I'm sorry, but regardless of how big your payroll is, paying a mere 7.65% (of the first $120,000 per employee, because its ZERO after that) is a TINY amount to pay for social security...especially when the value of your stocks, buildings, and other assets have increased triple or quadruple-fold in the last 72 years, while the social security tax hasnt gone up a dime since Eisenhower. All the whining in the word about that small tax is not going to convince me of anything.

You can't get rid of the mortgage deduction that will hurt middle class families. You can however cap it (as Romney suggested during the debates) and that will increase revenue, so I'll give you a partial correct response there.

You can't however raise the tax rate on capital gains. If you have the back ground you say you do you should know why the rate on investment taxes were dropped the way they were. They were dropped to encourage potential investors to put up money, more money at that then what they may have, and reward them for their risk. It ended up having an unintentional result in that people with a lower income that had previously not had the incentive to risk their money started investing. So, yet again, while good as a PR piece it would have negative consequences for the middle class.

 

[rock.auf]

we already hit the bottom, so will get better
it's a cycle