DEDUCTIONS FOR MORTGAGE INTEREST ON THE TABLE

 

employer tax deductions for health care

coverage for employees are on the table

Obama’s deficit commission panel released 58 ideas to cut the national deficit.  A few of suggestions include the end of exemptions for mortgage interest. “The report hinted that these tax breaks could be preserved at a lower level.” and an end to the tax write-offs employers receive for supplying health care to employees.  Many employers would and will cancel health care for their employees.  This would  be a back door way to put the public on the govt. health care plan. The plan was passed exclusively by the Democrats on Christmas eve of last year.  The plan also includes lower pay for doctors who participate in Medicare making it more difficult for seniors to find a quality doctor. 

A 15 cent tax on gasoline is proposed.  The tax on gasoline would not decrease the deficit. This tax would fund mass transportation projects.  Already the average tax for a gallon of tax is 46 cents per gallon. That includes national,state,local, taxes and misc. fees.
source: 
 http://www.api.org/statistics/fueltaxes/upload/October_2010_gasoline_and_diesel_summary_pages.pdf taxes   Would cut  .

SOURCES:

http://www.rttnews.com/ArticleView.aspx?Id=1476385

http://news.yahoo.com/s/ap/20101110/ap_on_bi_ge/us_cutting_deficits_6

http://www.moneynews.com/StreetTalk/Deficit-Panel-Cut-Mortgage-Interest/2010/10/25/id/374774

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~ by riffenberg on November 10, 2010.

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