I see no reason why second home loans or boat loans should be
deductible on income tax. This is simply a subsidy for the rich. Now
that I have made myself so popular here, what do y'all think?

wrote:
I see no reason why second home loans or boat loans should be
deductible on income tax. This is simply a subsidy for the rich. Now
that I have made myself so popular here, what do y'all think?


I agree with you. We don't even get to claim anything for our 1st
primary home.

wrote in message
oups.com...
I see no reason why second home loans or boat loans should be
deductible on income tax. This is simply a subsidy for the rich. Now
that I have made myself so popular here, what do y'all think?


For the rich?????????????

Heck, even my twenty foot runabout cuddy would have qualified for the credit
before I tore out the sink, ice maker and alcohol stove. But even if I
didn't, I paid cash for the boat and did not need any tax credits.

Having said that I do hope that some sort of IRS tax reform comes about this
year, and hopefully with a flat tax with a reasonable fixed income rate (at
which point the tax starts) and with no loopholes, exclusions or
deductions.....everyone pays the same tax rate over a specified income base
line.

"Tamaroak" wrote in message
...
I vote for no deductions for second homes or boats or whatever. The poor in
this country don't qualify for these deductions and our government is
widening the gap evermore.

Capt. Jeff


Good evening Captain. I really wanted to reply to this post of yours but I
promised to refrain from doing so based on the new spirit of this NG.

With that said I do hope you find your missing VHF connector (a plea made by
you to this NG at 3:51 p.m. today). Perhaps the money you save on getting a
used one vs. new one can be donated to the needy folks you describe in your
post.

Regardless, I do wish you and yours a Happy New Year.

I dont think this discussion violates the new spirit of the NG as it is
about boats. Furthermore, it uses the desire of people to discuss
politics to talk about boats. If people prefer, I will simply drop the
discussion.

" JimH" jimh_osudad@yahooDOTcom wrote in message
. ..

"Tamaroak" wrote in message
...
I vote for no deductions for second homes or boats or whatever. The poor
in this country don't qualify for these deductions and our government is
widening the gap evermore.

Capt. Jeff


Good evening Captain. I really wanted to reply to this post of yours but
I promised to refrain from doing so based on the new spirit of this NG.

With that said I do hope you find your missing VHF connector (a plea made
by you to this NG at 3:51 p.m. today). Perhaps the money you save on
getting a used one vs. new one can be donated to the needy folks you
describe in your post.

Regardless, I do wish you and yours a Happy New Year.


BTW: How do the *poor* in the US afford a boat, a tricked out Cadillac with
custom aluminum wheels, cell phones and cable television? ;-)

Harry:

Keep it about boats please.

"Harry Krause" wrote in message
. ..
Tamaroak wrote:
I vote for no deductions for second homes or boats or whatever. The poor
in this country don't qualify for these deductions and our government is
widening the gap evermore.

Capt. Jeff


Our system would be more equitable if only there weren't so many loopholes
for corporations, the rich, and "special deals." If these loopholes were
eliminated, and if corporations had to post legitimate financial figures
and be taxed accordingly, taxes could be lowered on the middle class.
Oh...and ALL income should be taxed.

Then why isn't it?

wrote in message
ups.com...
Harry:

Keep it about boats please.


And my reply was.

"Tamaroak" wrote in message
...
I vote for no deductions for second homes or boats or whatever. The poor in
this country don't qualify for these deductions and our government is
widening the gap evermore.

Capt. Jeff

The poor do not pay income taxes.