Friday, June 11, 2010

There are just not enough foreclosures I guess

The tax break for mortgage interest may be eliminated.

Democrats on President Barack Obama’s financial commission are considering the wisdom of permanent tax breaks such as the mortgage deduction and corporate deferral. Calling them “tax entitlements,” senior Democratic lawmakers have argued they should be on the table for reform just like traditional entitlement programs Medicare, Social Security and Medicaid,according to the Hill

No Mention in regard to how many foreclosures will result from this new tax increase.
And No mention how many taxpayers, earning less than $250,000 this will effect.