Obama Plans Mortgage-Deduction Cut


	Obama Plans Mortgage-Deduction Cut

muckdog

2-26-2009 10:03 PM

173 views

muckdog says:

Yikes! This would be in addition to increasing the marginal tax brackets, too.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/f37dc027-672a-45a6-b663-abe115b2dbe4/766C837D-291C-40ED-91B4-FF04437AB9DA/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://millionairenowbook.blogspot.com/2009/02/obama-plans-mortgage-deduction-cut.html" href="http://millionairenowbook.blogspot.com/2009/02/obama-plans-mortgage-deduction-cut.html" style="font-size: 11px;">millionairenowbook.blogspot.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://millionairenowbook.blogspot.com/2009/02/obama-plans-mortgage-deduction-cut.html"><H3 class="post-title">
Obama plans mortgage-deduction cut
</H3></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://millionairenowbook.blogspot.com/2009/02/obama-plans-mortgage-deduction-cut.html"><div align="center"><img src="http://content6.clipmarks.com/blog_cache/millionairenowbook.blogspot.com/img/E39009C3-280E-4F57-A3BC-54F8061E5A07" alt="" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://millionairenowbook.blogspot.com/2009/02/obama-plans-mortgage-deduction-cut.html"><SPAN> In what would be another blow to the California housing market, the Obama administration’s new fiscal year 2010 budget proposes to cap the mortgage deductions on “higher income” households — well, if you consider making $208,850 extremely high income!</SPAN></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://millionairenowbook.blogspot.com/2009/02/obama-plans-mortgage-deduction-cut.html"><SPAN>Here’s what the budget — it’s </SPAN><A href="http://www.budget.gov/"><SPAN><STRONG>HERE</STRONG></SPAN></A><SPAN> — says, in part: “The Administration’s Budget includes a proposal to limit the tax rate at which high-income taxpayers can take itemized deductions to 28 percent — and the initial reserve fund would be funded in part through this provision This provision would raise $318 billion over 10 years.”</SPAN></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/766C837D-291C-40ED-91B4-FF04437AB9DA/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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