WOW! AWESOME ROMNEY WOULD NOT TAX CAPITAL GAINS AND INVESTMENT INCOME
Romney in the last debate revealed he would eliminate tax on interest, dividends, and capital gains. What a tax savings for investors. Romney’s plan would let households earning less than $200,000 a year collect capital gains, dividends and interest tax-free. That would encourage more Americans to build cash nest eggs and to own stocks and bonds above and beyond their retirement plans.
Who ever elected, they need to take the home mortgage duduction away, along with real estate taxes among others. it is NOT fair for people who rent, whom are mostly poor and ay rent but get nothing in return. The poor should also get more food stamps, gasoline vouchers, college grants, unlimited medical, and a host of other entitlements if you are earning under 30k. any unclaimed monies should also be distributed to the poor for 401k's so they have something in the future.
Unemployed and poor should also get the same, in addition to new end of year vehicles discounted 75% with free 5 year insurance vouchers so they can look for work or get to work
the more we do for the poor, will help reduce crime, and save lots in law enforcement. Capital gains s/b taxed at 60% long term, and 75% short term. Loses should be eliminated unless you are considered poor.
We need to get the poor to obtain at least 100k per year and have them grandfathered in for 20years for the above entitlements.
Get a clue. The interest on mortgages on rental property is 100% deductible. The only way to make the system unfair would be to eliminate the mortgage deduction but leave the business interest deduction.
Romney no have power to do that even if elected!! Congress rules the purse; and Congress can't even agree to averting the Fiscal Cliff. Cannot continue to borrow from China forever; gotta RAISE taxes, not cut um!!