Rand Paul Tax Plan

[Belsnickel]

(06-22-2015, 03:19 PM)michaelsean Wrote: You see I think I've benefited more than the wealthy.  The few thousand dollars I save is more valuable to me than what the wealthy save, plus it's phased out for them.  If close to 60% of people in the $50,000-$100,000 range itemize, then taking it away and charitable donations hurts them. 

I'm not saying this to preserve it for myself.  I'm guessing within a few years the interest portion of my mortgage will go below the point where it combined with local, state, property taxes and charity beat out the standard deduction.

I get what you're saying, but keep this in mind. If all the other deductions go away, and we're not just talking the ones for itemized either, we are talking student loan interest, tuition expenses, educational materials, and a whole host of others I can't think of right now because I've spent too much time in higher ed and away from taxes, that is a lot going away for the lower-middle class homes (and I say this because oftentimes the upper income folks make too much to benefit). What is left is the charitable donations and the mortgages, two of the ones the wealthy can benefit from, and that lower income folks don't so much.

So the strategy being employed here is a smart one by Paul. He is giving the shaft to the lower-lower middle class households, and truly middle class households as well, but by maintaining those two that there are middle class families benefiting from he gets to keep the wealthy happy and hide behind the shield of "but these help the middle class, too!" This is why I consider this move to be pandering to the wealthy.