Obama and his new budget: Debt will surpass total US Economy

[saden1]

Originally Posted by Schneed10

The reason the middle class are fitting into that 47% is not because they don't earn enough to be taxed, it's because they meet enough deductions and credits to not pay.

If you didn't give them the mortgage interest deduction credt, then the price of your house will go way down. If you didn't give them the child tax credit, more kids would just end up needing financial aid for college, because college savings are exactly what would get sacrificed.

If you want to change that 47% number you're talking about doing away with deductions, almost all of which need to be there, and if they're not there, there will be negative consequences for all of us.

So you want those with no children or less children and those with no mortgages to subsidize these people?

[Schneed10]

Originally Posted by saden1

So you want those with no children or less children and those with no mortgages to subsidize these people?

Yes.

There needs to be an incentive to buy homes or the housing market will collapse in this economy. And those making 70K and supporting 3 kids deserve a bit more help from the government than those making 70K with no kids.

[firstdown]

Originally Posted by saden1

So you want those with no children or less children and those with no mortgages to subsidize these people?

Really I was thinking the same thing. How about if you cannot afford the child keep your pecker in your pants or your legs closed. I'm the first to say I take ever deduction I can but I still pay too much in taxes. Stop spending so much money and come up with a fair system for everyone. I don't mind palying more then someone making less as long as its fair and everyone pays into the system.