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post #21 of 24 (permalink) Old 11-19-2010, 01:02 PM
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Originally Posted by HoboMaster View Post
So basically in Canada you pay taxes on your original mortgage amount, not the counties percieved value of the house? Interesting.
Whoop, different taxes. PROPERTY taxes are adjusted every year. INCOME taxes are not generated as the house value goes up. But I can't write off the mortgage interest either. Basically your house (primary residence) is treated like a car or any other consumer item. Other than sales taxes and title transfer fees, the gov't doesn't care.


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post #22 of 24 (permalink) Old 11-19-2010, 01:04 PM
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Eliminate the 7.6% employee paid portion of FICA which is capped for earners above 105K.

Raise taxes 3% across the board.
Problem is, there's an upper limit to how much you can raise taxes. It's called "100% of earnings". Actually, the effective limit is below that as there'd be an armed revolt sooner. The point is that sooner or later the gov't has to rein in spending rather than just grabbing more revenue, so how about now?


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post #23 of 24 (permalink) Old 11-19-2010, 01:14 PM
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You didn't read my post. The 3% across the brackets increase would be after a 7.6% decrease from the first 105k of everyone's earnings. That means everyone earning less than 105K would be getting taxed 4.6% less.


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post #24 of 24 (permalink) Old 11-19-2010, 02:35 PM
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Originally Posted by cifex View Post
Eliminate the 7.6% employee paid portion of FICA which is capped for earners above 105K.

Raise taxes 3% across the board.
another genius idea brought to you by the killer of the middle class: Ronald Reagan.

in fact, undo anything Reagan did. that'd be a good policy.
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