The NAR has come out against the Debt Reduction Commission’s recommendation to eliminate (actually, not eliminate but rather greatly reduce and alter) the mortgage interest tax deduction (MID)… Isn’t that a shock? No? You knew those dip-shits at NAR would knee-jerk react to their sacred cow? Hey, I warned you in the title that this article is a waste of your time.
What has caught my eye is the speed with which the NAR propoganda hit mainstream agents and found its way to popular social media sites like Facebook. A quick look this morning and I must have caught half a dozen agents I know personally, out there spreading the bullshit around on behalf of the NAR; not realizing how hypocritical and stupid they looked.
Attention All Agents: Taxes are theft. You may acquiese to some form of theft in the ignorant belief that it somehow does some good. But tax deductions? They are pure evil. They are, by definition, designed to separate you from your natural freedoms through bribery and penalty. The mortgage interest tax deduction is no different and in some ways worse.
You might make allowance for the mugger on the street stealing your money because (he says) his kids are hungry. (I think you should kick his ass, in no small part because it may be the best thing you can do for his kids… but that’s a different post.) But do you really want to defend the guy who takes your money and then tells you that if you will walk where he tells you and stop where he tells you and wear what he tells you, he might (MIGHT!) give you some of your own money back? Are you that spineless? Let me see if Ican put this into perspective:
I (the government) have declared that all real estate agents must give me 30% of their commission checks. But, I think funny underwear makes people laugh and laughter is a social good… so if you’ll wear funny underwear on your head I’ll give you some of your commission back.
Feeling pretty good about your deduction? Take that stupid underwear off your head and pay attention! It’s not even true! The vast majority of tax payers don’t benefit from a mortgage tax deduction. Home ownership doesn’t drop without a tax deduction. And the worst part of all – at least this time around – is this: what the Debt Commission is suggesting is not simply that MID be eliminated. They are suggesting that most deductions be eliminated AND that tax rates be greatly reduced across the board. In other words, they’re suggesting a comprehensive reform of the biggest piece of convoluted, freedom sucking, organized form of crime in the nation. Is that the answer? No. Income taxes are wrong and will be abused no matter what we do until they’re eliminated. But at least this is a (gigantic) step in the right direction.
Stop listening to the party line. It’s all a lie… And get off Facebook – you look foolish putting this stuff up there. Besides, it’s even more a waste of time than was reading this article.
Thomas Johnson says:
Well, the proposal is DOA, according to the news. I am scooting my deck chair a bit toward the stern so my feet don’t get wet.
Thanks for this Sean, and I just shared this on Facebook, just for you.
December 3, 2010 — 12:28 pm
Greg Swann says:
Excellent! That was great fun.
Kevin Williamson at National Review Online has some wonderful words on the mortgage tax deduction earlier this week:
December 3, 2010 — 1:34 pm
Sean Purcell says:
Thomas – You are 2 for 2 on the LOL meter…
Greg – I’m going over to read the article now, but he’s already singing my song when he points out the complete lack of shame…
December 3, 2010 — 3:48 pm
Don Reedy says:
Had to take a Drammamine to ease the nausea, and now I’m going to have to listen to some mantra music to calm my nerves.
NAR = NIMBY….plain and simple. Do not unto us, for we are righteous, and our cause is just.
Oh my….
December 4, 2010 — 10:24 am
Teri Lussier says:
Pass the Drammamine, Don, and save me a seat, Tom. Now I just need to find my tin foil hat and I’m all set.
December 4, 2010 — 6:03 pm
wayne says:
The main issue I have with the elimination of deductions for an over all lower rate is the rate will creep up over time.
If you will recall in the 1980s, I know that seems like many eons ago for some, in Reagan’s first term there was a significant reduction in rates and some deductions disappeared. In 1986 I think rates went back up and remained up until right after 9/11/01.
I maybe a little off on the dates but what I predict will happen if the deductions are eliminated and rates go down in 2011, is rates will begin to rise in 2013 after the next federal elections.
When my income goes down, I have to reduce my expenditures. If the government managers had any sort of fiscal discipline, and backbone, they could fix some of these revenue and fiscal issues by tighter control of their organizations. (Reduced travel-use more video conference, audio conference, go-to-meeting; when three people leave an organization-retirement, transfer, or get fired-replace one headcount; reduce overall budget of non-critical departments by 8%, critical departments by 4%. Choose a number, I don’t care what it is. Just reduce the size of government expenses.
Do that first then talk to me about tax increases.
December 6, 2010 — 11:47 pm
Sean Purcell says:
Wayne – Your fear that the rate will creep up over time is the fly in the ointment, no doubt. But how’s that different from now? At least if they were to eliminate deductions and quit playing Social Engineers, they’d have to raise taxes by… raising taxes. Not sure that’s going to sit too well with people until, as you said, they reduce the size of government expenses.
The only answer that will sit well with me is no income tax at all. But until such time, every step to reduce the tax codes, eliminate the government’s busy little nose from our business and expose the confiscation (better known as taxation) of our money, is a step in the right direction.
December 7, 2010 — 10:40 am
Moris says:
Good article, with fun and bitter realities.
December 23, 2010 — 1:21 am