What if I told you that you wouldn’t be able to deduct your home mortgage on your taxes next year?
Would you be surprised? Maybe not. The method, though, might surprise you. And it’s happening while you were wondering how big Donald Trump’s hands are.
It starts with examining the difference between the Democrat of yesterday and today. The old way of doing things was direct. You knew when Obamacare was sold to us as a way to save thousands of dollars on your health insurance bill, it wouldn’t.
You probably knew that the banking regulations that were sold to us as a way to make homes affordable would not.
And I doubt anyone believed that red light cameras would decrease accidents.
None of the desired outcomes came true and not a single Democrat elected official was surprised about it. Neither were you.
Those old ways have produced fierce opposition, beginning in 1994 with Newt Gingrich, continuing in 2010 with the Tea Party, and now with the unlikely popularity of presidential candidate Donald Trump.
If they play the gender card and lose, they’re as transparently predictable as the next Batman movie.
Desperate times call for desperate measures and Democrat voters need money to motivate themselves to go down to the polls.
Enter the latest buzzwords, “the wealthy aren’t paying their fair share.” Sure, we’ve heard this for years, but what does it mean?
The other day, Obama decided that global tax evasion was a major problem.
He took on foreign countries, ultra-wealthy CEO types, and major American companies that have been laying people off because of Democrat regulations that make it too costly to compete and stay in America.
With the words, ““We shouldn’t make it legal to engage in transactions just to avoid taxes” he said a lot more to those of us who are listening.
Let’s break this down: We should not make it legal to engage in transactions… to avoid taxes.
Who does this?
Accountants do it every day. They advise large and small corporations on the best tax strategy to avoid paying taxes.
You do it too, if you lived in California or Illinois and moved to Tennessee or Florida.
And, yes, you do it when you deduct business expenses, tax credits, or… the mortgage deduction.
So what’s the difference between a corporation moving to Mexico to avoid paying tax and your moving to Florida to avoid paying tax? Nothing.
But you didn’t think of that did you?
You also didn’t think that “making it illegal to avoid paying tax” meant that you can’t take business expense deductions, deduct mileage, or engage in any behavior at all that would allow you to pay less tax.
The driver’s license began as a commercial license for big trucks. The seat belt law began as a rule for children, and the law that disallowed you from taking the mortgage deduction will begin as a rule to prevent large corporations from moving out of the country and taking your job with them.
Don’t say you weren’t warned. Obama just came right out and said it. You just weren’t paying attention.