Tag Archives: Taxes

Props to Obama on Iraq and Mortgages

Obama’s “residual force” is of course a way to keep us in Iraq for years (like McCain wanted)

House Speaker Nancy Pelosi , D-Calif., suggested a smaller contingent of 15,000 to 20,000 troops, and said she wanted to study Obama’s proposal. “I don’t know what the justification is for the presence of 50,000 troops in Iraq,” Pelosi told MSNBC on Wednesday.

House Defense Appropriations Subcommittee Chairman John P. Murtha , D-Pa., said only a complete withdrawal would suffice. “I don’t think we need to leave anybody there,” he said. “They have got to be on their own. Their presence alone makes them vulnerable.”

Likewise, Obama’s “upper income” limit on mortgage deducations should slow the reemergence of the high end of the home price bubble

The tax increases would … [reduce] the value of such longstanding deductions as mortgage interest … for people in the highest tax brackets. Households paying income taxes at the 33% and 35% rates can currently claim deductions at those rates. Under the Obama proposal, they could deduct only 28% of the value of those payments.

Now for Obama to let GM go bankrupt and stop throwing away money on F-22s