Obama Offers A Tax Change Proposal

I like it for the most part, but want to see the pay-for. I'd personally start with repealing the disingenuous Cheney-Bush tax break for the richest of us back in '01. Remember how they crowed about a $5.6 trillion surplus coming over 10 years? I like Obama's proposal except for the 10% tax credit on mortgage interest payments. They are already deductible - why increase the subsidy (by about 3X) by making it a credit? We are over-housed at the same time that we are under-educated as a nation. I'd continue the pay-for theme by discontinuing the tax detectability of second or third homes or homes valued at over $1 million (for the amount of interest above the 1 mil). More pay-for needed? Probably so. It will need work. But a good plan overall and a decent re-prioritization of our tax code.
- posted by john @ 6:54 PM