chloe3388
11-04-2006, 03:46 AM
Do you think this is a possibility?
VERY INTERESTING - (Dem's scheme to rob you more...)
http://boortz.com/nuze/index.html
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<SNIP>
Democrats will tell you that they only want to raise taxes on the so-called "rich." Nancy Pelosi will probably come up with some figure in the $200,000 or $250,000 range to describe "rich" when she and her Democrat pals start to work on their tax increase plans. But here's a warning. If you happen to fall below that "rich" category, you're in their crosshairs as well. They have various schemes in the works to put you smack in the middle of the "rich" category, and thus set you up for some pretty substantial tax increases.
One such scheme targets homeowners. It's called "imputed income," and its a brilliant and devious idea on how to tax your home ownership.
Here's how it works.
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.
VERY INTERESTING - (Dem's scheme to rob you more...)
http://boortz.com/nuze/index.html
________________
<SNIP>
Democrats will tell you that they only want to raise taxes on the so-called "rich." Nancy Pelosi will probably come up with some figure in the $200,000 or $250,000 range to describe "rich" when she and her Democrat pals start to work on their tax increase plans. But here's a warning. If you happen to fall below that "rich" category, you're in their crosshairs as well. They have various schemes in the works to put you smack in the middle of the "rich" category, and thus set you up for some pretty substantial tax increases.
One such scheme targets homeowners. It's called "imputed income," and its a brilliant and devious idea on how to tax your home ownership.
Here's how it works.
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.