THE BOWLES-SIMPSON PANEL recommendations are just like the product of most committees. They start out with the intentions of building a beautiful horse and invariably end up building an ugly camel.
Politicians have tried to keep homeowners from getting tax benefits from their home ownership for years while at the same time increasing the property taxes on the property. Now they have figured out how to do half of it and make it look like they are benefitting all of us with mortgages. Lower income taxes substantially and take away the property tax deduction from home owners, what a joke?
So which shell do you think the pea will be under when they raise the tax rates again with no property tax deduction for these homeowners? Either the Bowles-Simpson panel is extremely stupid or they think we are extremely stupid. Actually that is an oxymoron because it has been obvious for years that all politicians believe THE PEOPLE are stupid.
Do you actually believe that any politicians could be trusted to keep income tax rates at the level of these recommendations after they have eliminated deductions? If you believe they could be trusted to keep our taxes low then please call me because I have some beautiful oceanfront property I will sell you very cheap in the interior of the Sahara desert.