Tag Archives: Income Earners

How Washington, D.C. and the Banking Industry is Killing the Housing Market, Part I

President Obama has this great idea to tax millionaires – his “Buffet/Buffett tax” — that is, getting those who actually earn $1,000,000 a year or more, not the poor strapped $100,000 middle or upper or whatever middle class you call them.  Of course, the rich can afford fancier attorneys and CPA’s to toodle around income streams, and most obtain a lot of wealth from lower taxed investment earnings, which, I might add, stimulate the economy and create jobs.

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51% of Americans Pay Zero Income Tax: Get Ready for DC to Target the Home Mortgage Deduction

Texas Senator John Cornyn is aflutter over this factoid: 52% of Americans pay zero income tax, he says?

Say what? That’s way higher than I would ever dream!

The Joint Committee on Taxation, which scores the cost of tax legislation for Congress, pointed this out in a recent report.

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Posted in Economy, emerging real estate markets, national news stories affecting second homes | Tagged , , , , , , | 4 Comments