A Quote by Florence King
Owning your own home is America's unique recipe for avoiding revolution and promoting pseudo-equality at the same time. To keep citizens puttering in their yards instead of sputtering on the barricades, the government has gladly deprived itself of billions in tax revenues by letting home owners deduct mortgage interest payments.
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Owning your own home is America's unique recipe for avoiding revolution and promoting pseudo-equality at the same time.
The worst loophole is what Donald Trump has talked about: the tax deductibility of interest. If you let real estate owners or corporate raiders borrow the money to buy a property or company, and then pay interest to the bondholders, you'll load the company you take over with debt. But you don't have to pay taxes on the profits that you pay out in this way. You can deduct the interest from your tax liability.
All homeowners in America may deduct mortgage interest on their first and second homes.
Ask most people who live in a home and have a mortgage on it whether they own their own home and the answer is almost guaranteed to be a resounding 'yes'. Yet it's the wrong answer. Technically speaking, until they have paid the mortgage off, they don't own it. Herein lies the difference between reality and illusion, between ownership and control. This confusion lies not only at the individual level, but also at the heart of government thinking.
If we choose to keep those tax breaks for millionaires and billionaires, if we choose to keep a tax break for corporate jet owners, if we choose to keep tax breaks for oil and gas companies that are making hundreds of billions of dollars, then that means we've got to cut some kids off from getting a college scholarship.
Potential home buyers have a two-step decision process. First, they determine whether they can afford to make a purchase - does their income safely cover their mortgage payment? Then they determine whether owning is a better financial choice than renting - are the costs of owning a home lower than the cost of renting it?
The government is promoting bad behavior... do we really want to subsidize the losers' mortgages... This is America! How many of you people want to pay for your neighbor's mortgage? President Obama are you listening? How about we all stop paying our mortgage! It's a moral hazard
While a reverse mortgage can indeed be a viable way to generate income, it is very important to understand that after you take out a reverse mortgage, you will still be responsible for paying the property tax, the insurance premium, and all the maintenance costs for your home.
I've never really dreamed of owning a home. I don't think you go into the arts and also dream of owning a home.
From secrecy and deception in high places; come home, America. From military spending so wasteful that it weakens our nation; come home, America. From the entrenchment of special privileges in tax favoritism; from the waste of idle lands to the joy of useful labor; from the prejudice based on race and sex; from the loneliness of the aging poor and the despair of the neglected sick - come home, America.
There has been a stigma around letting movies be seen on home screens on the same day as theatrical screens. Universal said they were going to do it with 'Tower Heist,' but they backed off when challenged by the theater owners. I understand where the theater owners are coming from on big studio movies.
A timeline for bringing U.S. troops home that is negotiated with the Iraqi government would also boost the Iraqi government's legitimacy and claim to self-rule, and force the Iraqi government to take responsibility for itself and its citizens.
The tax that was supposed to soak the rich has instead soaked America. The beneficiary of the income tax has not been the poor, but big government. The income tax has given us a government bureaucracy that outnumbers the manufacturing work force. It has created welfare dependencies that have entrapped millions of Americans in an underclass that is forced to live a sordid existence of trading votes for government handouts.
Personal rights, universally the same, demand a government framed on the ratio of the census: property demands a government framedon the ratio of owners and of owning.
I like my house to be unique to me. Sure, I've bought plenty of things out of a catalog, but the way I put them together in my home is special. You might have bought your sofa at a major home decorating store, but the rug you found at the flea market is so unique, it takes your room from 'carbon copy' to 'simply yours' in no time.
There is only one institution that can arrogate to itself the power legally to trade by means of rubber checks: the government. And it is the only institution that can mortgage your future without your knowledge or consent: government securities (and paper money) are promissory notes on future tax receipts, i.e., on your future production.
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