A Ticker of CNNs top Political Stories

Friday, December 3, 2010

3 Things to think about it!

I do not know if anyone has been paying attention but there are three issues being discussed in congress that make me very sad. One, there are talks about not extending unemployment (im pretty sure it will not be extended, might of even decided that already) to those who need it meaning a whole lot of people will be get last check on the 13th or so and be without money for Christmas. Two, there are talks about doing away with the mortgage interest deduction. For those of you who do not know what that is, it basically takes the amount someone is paying in interest on a property loan and allows that person to reduce their taxable income by that amount. For example, one makes 40K a year, and pays 11K in interest on his or her home; they would only be taxed as if their income was 29K a year if he or she chose to write that 11K off on the tax report. Lets face it; it is common sense that those who do not make enough money to need a loan with interest are those who need this reduction in taxable income. 

Money Troubles 
And finally three, as I mentioned in a prior post, the Bush tax cuts are set to expire on the 31st of this month. Democrats would like to extend said tax breaks for those who make less that 250,000 dollars per year, while Republicans say they would only support the extension in the tax cuts if it is extended for all. If the tax cuts are not extended, people should notice that a huge chunk of their checks is missing as early as January. Logically, I would say yes, cut back and lets get this deficit down, but my heart says that we are moving towards making the life of people who are just making it by as it is even worse when we are spending billions on a war that to most, makes no sense. Honesty, it is making me sad having to think about people suffering even more in the months to come. 

1 comment:

  1. when is there going to be some more posts?! I'm itching for some more political info and opinions.