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Bush's Tax Hike on Homeowners


Tags Taxes and Spending


Well, after years of raising our taxes through deficit spending, the Bush administration has released a plan to raise our taxes in a variety of other ways. The attack on the mortgage interest deduction is probably the most alarming among them.

I thought the CEO of the National Association of Homebuilders pretty well summed it up: "It's the biggest tax hike for home owners ever considered. Replacing the mortgage interest deduction would punish millions of home owners, particularly those living in California and other high-cost markets."

This is all in the name of "simplification" and "closing loopholes," thus accentuating the fact that "loophole" is another word for freedom.

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