Page 3 - Itemized Deduction News Today

Debate, ezra? i was surprised republicans today really, they didnt come up with any specificity other than rick perry. i have to give him credit. he noticed there was a limitation on deductibility proposed by the president. that would include deductibility for charitable giving if you gave $1 million to some charity, you would not get a 35% tax deduction on it but would get a 28% tax deduction on it and that may inhibit some charitable giving around the edges. thats possible. other than that, th...

To make very difficult choices in terms of medicare, medicaid and spending and then at the same time, suggest that those savings, rather than going to reduce the deficit and the debt, are being used just to afford tax relief to the most fortunate americans. its just a matter of making sound choices and having a sense of shared sacrifice when youre doing deficit reduction. >> are we going to keep the household deduction for interest payments? are we going to keep the deduction when youite mize fo...

>> and if you are rich, it goes down about 2%. also, if you look at the senate piece, many lose health care because they get rid of the mandate that gives people the breaks and the tax deductibles so they can move forward. so it hurts them there. secondly, because this is a trickle-down analysis that the republicans believe in, so if the economy does not move up 4% to 5%, and most economists say it will not, then the government goes broke. when the government goes broke, we have to reduce entitl...