Posts Tagged ‘mortgage deduction’

Congress Shouldn’t Forget About Tax Entitlements In Its Search for Deficit Reduction

Yesterday, Washington Post columnist Bob Samuelson urged lawmakers to “just eliminate…the whole notion of entitlements.”  His provocative argument: The very word “entitlement” makes people believe these programs are somehow untouchable. They are, for instance, effectively exempt from the sequester’s cuts even though they represent two-thirds of all government spending. Bob is on to something but he […]

Mission Impossible: Cutting the Corporate Tax Rate to 25 Percent

It has been an article of faith among most congressional Republicans and many Democrats that the corporate tax rate should be cut from today’s top level of 35 percent to 25 percent—or even less. And backers of the idea breezily suggest this could be paid for by scaling back some corporate tax breaks. But a new […]

Perry’s Free Lunch Flat Tax

There is lots we still don’t know about GOP presidential hopeful Rick Perry’s tax and budget plan. But I am pretty sure of one thing: The proposal he released today would result in a massive tax cut and, combined with his vow to balance the federal budget by 2020, implies huge reductions in federal spending.  Perry, […]

How Congress Can Cap Tax Breaks

Sooner or later, Congress will realize it needs new revenues to help balance the budget, and trimming tax subsidies is the way to get them.  But will it tackle individual preferences, such as the mortgage interest deduction, one at a time? Or, will it try to limit the political bloodshed and go after these tax […]

Fannie, Freddie, and the Mortgage Interest Deduction

Tomorrow, the White House will release its ideas for overhauling mortgage giants Fannie Mae and Freddie Mac.  While there is little agreement in Washington over just what to do, there is broad bipartisan support for big changes. In large part that’s because when the implicit government guaranty behind Fan and Fred turned explicit in the […]