Monday, October 25, 2010

Burr Must Go: North Carolina Realtors are smoking some good sh*t

I'm seeing multiple comments on twitter over the last couple of days indicating that NC Republican Senator Richard Burr supports NC Realtors by fighting hard to maintain the interest expense deduction for primary residences. I have a common sense question here. Where are NC Realtors getting their pot? It's evident that they sure are smoking some good sh*t.

This morning's headline in the Wall Street Journal? Key Tax Breaks at Risk. There is a bipartisan committee of 18 people meeting in Washington right now. They are going to issue a report next month on what needs to happen to close our nation's budget shortfalls. Allow me to cut to the chase and tell you what's going to happen depending on which political party controls the debate in Washington DC:

Republicans - They will continue their unbridled support for the wealthy by pushing all the tax changes onto the shoulders of the middle class. Interest deduction on home mortgages? Gone. Paying for medical insurance with pre-tax dollars? Gone. Some kind of consumption tax? Say hello to a new federal sales tax. In essence, Republicans will screwed middle class America, just as they have done for decades.

Democrats - Recognizing that the wealthy received the lion's share of the tax cuts over the last decade, they'll push to increase the tax burden on the wealthy.

So, which do you want to happen? I can tell you what will unfold. Watch and learn. The gullible middle class in this country will flock to the polls and elect Republicans. And they won't know or understand what hit them in the wallet in a few years when their taxes are thousands higher and more of them fall into poverty.

North Carolina deserves better than Republican Senator Richard Burr.

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