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Real estate head slams GOP tax plan

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Mortgage Professional America | 27 Feb 2014, 05:43 AM Agree 0
The head of the National Association of Realtors has slammed a GOP tax reform plan that would slash the current mortgage interest deduction
  • TA | | 27 Feb 2014, 11:57 AM Agree 0
    Well Said!
  • Mark | | 27 Feb 2014, 12:03 PM Agree 0
    try being a mortgage officer big baby
  • Michael | | 27 Feb 2014, 12:12 PM Agree 0
    The solution is simple. Institute a flat tax system. Everyone pays the same tax rate. Everyone loses all tax deductions, the tax code is simplified. And we all get a and pay our FAIR SHARE. 10% is good enough for God and it should be good enough for Uncle Sam. Earn a dollar and pay 10 cents. Earn $100,000 and pay $10,000.
  • Dan | | 27 Feb 2014, 12:17 PM Agree 0
    This is so small minded, the two new tiers would be significantly lower than the current tiers and would spark an economic stimulus. I believe the overwhelming majority of regular Americans would support lower tax brackets, less deductions and a simplification of the current mess the IRS has in place. Regular folks see minimal benefit from the current insane tax policy.
  • seriously | | 27 Feb 2014, 12:24 PM Agree 0
    This plan could work depending on how much tax rates are reduced.
  • Bsquare | | 27 Feb 2014, 12:38 PM Agree 0
    So the middle class is being asked to give up their tax deductions, yet there is nothing capping the tax rate at 10-15% permanently. So anything lost it lost for good, but anything gained and be taken at a moments notice.
  • Victoria - a registered Republican | | 27 Feb 2014, 01:21 PM Agree 0
    I am deeply disturbed about the GOP's strategy for tax reform. I agree that we need to promote economic growth and create more jobs. I do not see this as a solution to our economic problems. Look what government regulations have done to the financial services and housing industry, and health care. Thousands of jobs have been eliminated and continue to be eliminated currently. As a tax payer and citizen of my state and city, I fear tax payers will think twice about voting for initiatives to support their state and communities if their taxes are increased with the inability to deduct state and local taxes.
  • DM | | 27 Feb 2014, 01:29 PM Agree 0
    I TOTALY agree with Michael That is the fairest means to not only create income but to tax the wealthy the same as the middle and lower class are taxed.
  • Rod | | 27 Feb 2014, 02:54 PM Agree 0
    I also agree with Michael but would couple it with a Balance Budget Requirement that not only limited spending but included a set pay down of the 17 Trillion in debt. We have to start sometime and somewhere or our younger generations won't stand a chance.
  • Bayview Mortgage Inc | | 27 Feb 2014, 04:17 PM Agree 0
    I would have made the deduction only for demorcrats . this way the republicans would be happy campers as to be making government 50% smaller. and get rid of reverse mortgages completely unless it was self insured by the lender and not by FHA.
  • Michael | | 27 Feb 2014, 05:58 PM Agree 0
    Great comments by all. The new tax code must be a flat tax with NO deductions or exemptions, NONE. It MUST be codified at 10% and payable by EVERYONE no matter their income. NO Unearned Income Tax Credits or checks written to anyone for not earning enough money. The difference between a poor person and a rich person (define rich however you choose), is the rich person is willing to do what the poor person won't. Be it education, hard work, discipline themselves, etc. Everyone must assume responsibility for their actions or lack their of. No one is going to bail you out for your responsibility failures. We all have a choice in life...we can choose to be successful (however we as individuals want to define success for ourselves), or we can choose to be not be successful. If we chose the latter we cannot blame anyone but ourselves and we cannot expect anyone to bail us out or rescue us from ourselves. Now there is only one thing left to do.....ALL of US Get Off Our Butts and DO SOMETHING ABOUT IT!
  • Rod | | 27 Feb 2014, 06:22 PM Agree 0
    Again I agree with you (Michael), but it is just as important to require a balance budget with spending cuts which will allow an annual surplus which would go toward the National Debt. It won't be fun or be for just a few years but it must be done if America is to survive. Again the younger generations deserve the same opportunities previous generations have inherited for their parents and grand parents. The time to start is November 2014 voting in a Conservative House and Senate...the party doesn't matter but the mind set does and the Liberal mind set has gotten into this mess.
  • Michael | | 28 Feb 2014, 12:56 AM Agree 0
    A balanced budget is an absolute, as is paying off our national debt. Our individual and collective greed has saddled out children, grandchildren and great grandchildren with a burden we caused and they don't deserve.
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