Interest tax deductions would grow our nation
Published 12:00 am Tuesday, July 26, 2011
Remember the days when most all interest paid was tax deductible on federal taxes? Those were the days before people used their homes as “cash cows.”
The “housing bubble” has its roots in the years that followed the elimination of this personal interest write off.
This deduction should be restored. It would be the best stimulus program our elected could pass.
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All car payment interest, credit card interest, personal loan interest should be able to be deducted. This would get people spending and borrowing again.
Most people who own homes have tapped that spending source out, especially given the constantly falling home prices.
But, most people still have access to unused lines of credit, for car purchases, personal loans, and credit cards.
Restore this deduction and watch our country grow again.
United States must start taking care of itself
I am very much concerned about foreign aid. I sent an email to our senators, Rob Portman and Sherrod Brown and also to Congressman Bill Johnson.
With the problem of our country facing budget cuts, no one has mentioned cutting foreign aid.
Several years ago Reader’s Digest published a list of countries receiving out aid and the amounts.
I was stunned at some of those countries because these were countries whose standard of living was greater than ours.
Some are even known to harbor terrorists as well as some others that are unfriendly to us.
I urge our leaders to look at this way to save cutting education, Medicare and our Social Security.
Is anyone offering to aid us? No. But we are still doling it out.