Wednesday, February 15, 2012

Presidential Budget-How it effects homeowners

President Obama rolled out his proposed budget for the coming fiscal year. The part of the budget that catches my eye is that the Mortgage Interest Deduction is on the chopping block. If the Real Estate market has to turn around in order for our economy to turn around why would the President take away the one deduction that makes a difference between renters and home owners? I have not read the entire budget, and I received an alert telling me to be aware of his verbiage in the current draft. We HAVE TO encourage our representatives to have this wording removed from the budget. The only way to remove such an important deduction from the middle class, is to flat tax everyone, so that there is no benefit to being a homeowner.
I believe we are on a slippery slope and as Americans with the right to vote and the right to be heard, we need to be loud and in one voice, that the government needs to look for a budget cut, elsewhere.

No comments: