From the Grassroots: Concern Over Tax 'Reform'
Letters to the Editor
Following are e-mails that were received last week in response to proposals by the President’s Advisory Panel on Federal Tax Reform that would replace the current deduction for mortgage interest with a 15% tax credit and end deductions for state and local taxes, including property taxes.
We Will Sell Our Home
I am a home owner in Colorado who is shocked to hear of this committee’s recommendations for fair, pro-growth tax reform. This proposal would result in my family selling our dream home that we saved and invested in for our future. We are upper-middle-class income earners who stretched our finances to invest in this economy by purchasing our home. One of the only factors in this investment was the tax benefit that allowed us to purchase a home and build our future for retirement and not rely on government-sponsored programs. It is my family’s intent to work and earn money to minimize any dependency on Social Security.
If this program is approved we will sell our home and invest in other areas. How would this boost our economy?
Please let our family know how we can become involved in supporting the opposition to this bill. We are deeply concerned about the impact on our economy should any of this bill be passed.
I hope to goodness that we hear the voices of America’s home builders, sub-contractors and lending institutions boldly dissenting against the proposed tax reform. The tax reform panelists should be ashamed of themselves for even considering that the American public, investors, home builders and mortgage bankers would willingly swallow this bill.
As a staunch Republican, my worst nightmare would be to have to vote against my President.
Should Mr. Bush choose not to go to bat for the American people against the twisted ideals of this misguided group, his executive branch needs to understand the loss of voting power it may well suffer for failing to “do the right thing.”
I am interested in knowing who the panel members are and how they obtained the opportunity to finagle this proposed thievery. Can you publish a “bio” on each and every one of these backward-thinking individuals? Americans need to know the names and faces of the scalawags hell-bent on putting our nation’s financial future behind a colossal-sized eight ball.
Editor’s note: For a list of the members of the tax panel, click here.
Getting Better With the Write-Off
I live in California and just purchased a new home with a large monthly payment. I always tell everyone that the first year is hard, but once you have the write-off everything will get better. If my Republicans make this decision, I am sorry to say I would have to become a Democrat.
Poor Economic Logic
As a home builder and home owner, the thought of my business absolutely dying due to the tax proposal is quite ominous. How could this ever have been approached? How will killing real estate and home construction benefit anyone when it loses more revenue than changing the current tax advantage will gain?
I am having trouble understanding the economic logic of this proposal. Stifling an industry has a downstream effect in a circle of supply and demand, purchase and sale, supply and support. If I don’t build and sell, my employees do not have jobs, they cannot pay for other business services and then it snowballs. Do this on a large enough scale, and there will be no taxes left to collect.
I am further troubled by this Administration’s inability to keep a clear and simple train of thought. I am, or was, a proud and reasonable Republican; I am so far from understanding where either party really stands except for their own self interests. I frankly believe that neither is truly a better choice as both fail to act upon what they promise and both seem to lack the ability to deliver what the entire population really needs.
I am not particularly political, just eager to take care of my family and provide an exceptional service to my clientele, who happen to be some of the wealthiest in the nation. See the irony in all of this.
I did not grow up privileged, quite the opposite — a broken home, very poor, but strong in spirit and faith. I worked all day and attended college at night. I started my company with $500 I did not have. Ten years later I have employees, world-class clientele, the elite of the architectural industry to work with. Is this a handout from some government program funded by taxes?
No. I showed up every day, I got back up when knocked down. I learned every valuable lesson at least once. I own a home, have two beautiful girls and a loving, supportive wife. I want to be able to pass on the effort I have worked so diligently for. Isn’t this the “American Dream?” I have beaten the odds. Why and how can that so easily be taken away by those whose salary I pay in those hard-earned taxes? It’s perplexing to say the least.
Please help me if you can. Where do I sign a petition, call a senator, etc.? I am not afraid to have a voice and stand up for what is morally and ethically correct. I just need a great coach and some direction.
Josh M. Starcevich
Precision Construction Services, Inc.
Don’t Let It Happen
On behalf of the housing industry, we cannot let this happen. Let's defeat any and all who advocate doing away with most of the mortgage interest tax deduction — the current Administration if this is what happens.
Terry M. Pope