Kit Lens

Aummer, I think you misunderstand the Romney plan for the set deduction. Let's say that 15K is used as a standard deduction or for that matter 10% of your income. You still have to claim those deductions. You cannot under what Romney explained just take a deduction without actually having it.
In the end if you don't itemize, you can't claim a deduction for mortgage, charity or anything else.

I for one would take a major hit if I lost the mortgage deduction and in the end you would effectively be raising my taxes whether or not you want to call it that.

terry1938

In Australia, our taxation system does not permit home owners to claim their mortgage interest as a taxation deduction, unless part or all of the home is used for bisiness premises. If you own business premises, e.g retail premises or a warehouse, you can claim your mortgage interest as a deduction. Everyone accepts this system as fair and reasonable for taxation purposes.

wilpharm Loc: Oklahoma

debates are not about winning or losing??? hmmm
why waste time having them...that sounds pretty much like a losers comment...pore old Barry Husseins butt is pretty sore this morning , I guess..

bull drink water Loc: pontiac mi.

the actual plan will be written in some corperate room by corperate lawyers and handed to some rep to introduce.

Hunter Lou 1947 Loc: Minnesota

I agree with you. He's very good at deceptive meanings. Just watch and listen to his words very closely. He's very good at telling you a lie and making someone believe him. Although i believe the President did an off par performance. I don't know if it was by design but he needs to be more asertive. That was only the first debate and I expect the President will be more dramatic in his next two debates. I believe the Presidents team wanted to see what snake oil performance Romney will come forth in the first debate and they will eat him alive in the next two debates.
In the after debate standings i still believe the president will be holding his own, he may slip in some states but not anything to be concerned about. Romney has a unlikeable problem and trust problem and he can't shake that in the short term.

AUminer Loc: Brandon, Ms

By cutting taxes across the board by 20%, the Romney plan will put a greater amount in an individuals pocket on a week to week basis, while closing the loopholes will only be apparent with smaller tax returns in April. This leads to more liquid money to be spent throughout the year. Considering that so many people like to cry about how the wealthy have access to so many more loopholes, it seems evident to me that the loophole closing will affect the more wealthy.Even with closing certain loopholes, the average middleclass person will see a net reduction in the tax burden they now carry. As for not giving details, the Presidents supporters are crying that Mr.Romney was ignoring the time constraints as they were , and what was he doing:Explaining and correcting Pres. Obama's statements. The reason Pres. Obama did not push Mr. Romney on the so called "flip flops" is that he actually has not been doing that but is having to deal with slanted reporting and campaign spinning of everything he has said. The President realized that Mr Romney was going to call him on these items so he backed down. Sure is easier to put words in someones mouth when they are not on stage with you to set the record straight

AUminer Loc: Brandon, Ms

Saw where Dennis Miller said that he wondered if "Butt whipping" was covered by Obamacare.

George H Loc: Brooklyn, New York

Terry,
I am glad you are fascinated by American Attitudes. I would suggest that you also learn to do research, who if I may ask removed the 30% requirement for a mortgage? Now as for George Bush, he was bad no argument there. Not blaming anyone including Bush, since the problems went much further back than most realize.
Now as for Clinton, the country did fairly well under him, but things did not go as planned. The balanced budget extrapolated out ten years to do so. It took into account job growth and taxes being paid. Those things did not happen. Now we have to deal with 9-11, sure we went to war, and it got out of hand agreed needed to end earlier. Now reading his policy and what actually occurs if he gets elected are two different things. He did a fairly good job in Mass, the Dems don't like to admit it. Actually the debt is a big problem that has to be addressed, but the agenda that Obama is following is worse. The American people can not afford four more years of this man's policies, the cost is far too great and will cause the USA to be bankrupt.
Glad you live in Australia, I enjoy visiting my friends in Australia, as for your being terrified, start looking at how Sharia is working to change your country. Start paying attention to the socialists in your country.

George

George H Loc: Brooklyn, New York

Lou,
You like Obama, that is obvious. Now care to explain all of Obama's promises that he did not deliver? Both parties want their man elected, so be it. One thing Romney ran a state that is successful, has the highest educational standing, care to tell us what Obama ran before becoming president. You also need to get a subscription to the Congressional Record.

George

jkm757 Loc: San Diego, Ca.

:thumbup: :thumbup: :thumbup:

ted45 Loc: Delaware

In order to take your mortgage you have to itemize and give up the $5,800 standard deduction. Romney is proposing a standard deduction of $7,000. That will benefit more people than the current system.

In my neck of the wood is you can afford a mortgage that generates a $1, 000 a month in interest they you are one of those "rich" that every one is out to geet.

Bangee5 Loc: Louisiana

Shouldn't that be "We won - YOU lose!"

Kit Lens

Over the past several months I did figure out one thing about the candidates and the most disturbing wasn't that I didn't like romney, it was that Romney doesn't like me.
I'm one of those takers. After working only 55 years, I began claiming social security. So now, I'm a 47%'r. He doesn't consider me a job creator but my taxes & expenditures support the police, fire department, sanitation department, public works department, the Lawn Doctor guy, UPS, the Post Office, my local repair shop, grocery store and restaurant to name a few. Yet Romney/Ryan don't like me because I don't own a small business or better yet a large corporation.
So in the end, why put someone in the White House who is looking at me as a leech.
No thanks guys. I'll stick with Obama.

ted45 Loc: Delaware

You have to give up the itemized deductions in order to use the standard deduction. Unless you are running your own business most people don't have enough deductions to itemize so an increase in the standard deduction is going to benefit them.

Of course, it is not possible to run your own business anymore acordign to Obama: remember the famous "You did not build it" speech?

blitz67 Loc: Cape Cod

You can try to scare everyone like a typical dem about losing your mortgage deduction, but take into place the other deductions that are going to be added, it works out as almost a wash. Never mind, after my share of Obama care is paid for, my mortgage deduction is wiped out two fold. The numbers don't lie.