Well then, if this 'plan' works as I understand it then perhaps the intent is to attract Republicans; I'm already being taxed on money I earn and then having it taxed again when I spend it... now I'd even be taxed on money I didn't even earn.
On Feb 3, 11:46 am, THE ANNOINTED ONE <[email protected]> wrote: > Just remember this. Democrats actually believe that the best use for > every single penny you earn is for it to be spent by government for > what they love to call the "common good." > > and the republicans method is to spend money they don't have and never > will. > > On Feb 3, 9:12 am, Philobealo <[email protected]> wrote: > > > > > Imputed Income Tax Scheme > > Let's say that you've owned your home for about 20 years. For 20 years > > your home has been appreciating in value ... big time. Your monthly > > payments on that home are about $550 a month. Remember, it's a 20-year- > > old loan made when the cost of your home was much, much less. There > > isn't much of a home mortgage tax deduction left at this point since > > you almost have the home paid off, and the bulk of your payments go to > > principal instead of interest. > > > The very fact that you're living in such a nice home, and paying so > > little, attracts the interest of Democrats. They know that there are a > > lot of people in your neighborhood that paid a lot more for their > > homes than you did, and their mortgage payments are a lot higher. Not > > only that, but there are other people renting homes in your > > neighborhood and they're paying much more than you are every month. > > It's obvious that you're enjoying some great economic benefit due to > > the fact that you've owned your home for so long and your payments are > > so low. Well, where there's an economic benefit, there must be a tax! > > > Enter the concept of imputed income! > > > Under this wonderful plan, first floated by Clinton Democrats before > > the voter revolution of 1994, the government would figure out how much > > your home would rent for every month. To do this they would use all of > > that census data they've gathered, plus any information that they can > > develop on current sale and rental prices up and down your street. > > > Let's say that the government --- the IRS, if you will --- determines > > that your home would rent for $3,250 a month. That would add up to > > $39,000 a year. But the IRS discovers that you're only paying $550 a > > month, or $6,600 a year in rent. Well, there's that economic benefit > > you're enjoying by virtue of your long-term home ownership. The > > economic benefit of your home ownership is the difference between the > > $39,000 you should be paying to live there, and the $6,600 you're > > actually paying. Do the math. You're getting away with $32,400 every > > year in non-taxed economic benefits! > > > The Democrat plan is simple. Just take that $32,400 and add it to your > > taxable income on your next tax return. Then you get the privilege of > > paying income taxes to the federal government on the economic benefit > > you derive from your long-term home ownership. The IRS has "evened the > > playing field" in your neighborhood ... so to speak. Your neighbors > > had to pay taxes on the full $39,000 they're paying to live down the > > street ... now you're having to do the same. After all ... it's only > > fair, right! > > > Just remember this. Democrats actually believe that the best use for > > every single penny you earn is for it to be spent by government for > > what they love to call the "common good." They will grudgingly allow > > you to keep enough of your earnings to avoid your participation in a > > full-scale tax revolt. A good Democrat knows that only Democrats and > > the government know what is good for you, and that you will be so much > > better off and your life oh so much better if you will just succumb to > > the power of government and it's ability to care for you much better > > than you can care for yourself.http://boortz.com/nuze/200611/11012006.html- > > Hide quoted text - > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
