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April 21, 2014

Andrew Silow-Carroll: Passoverkill? Suggestions to make next year's seders even more culturally sensitive

Sara Israelsen Hartley: Seeking the Divine: An ancient connection in a new context

Christine M. Flowers: Priest's execution in Syria should be call to action

Courtnie Erickson: How to help kids accept the poor decisions of others

Lizette Borreli: A Glass Of Milk A Day Keeps Knee Arthritis At Bay

Lizette Borreli: 5 Health Conditions Your Breath Knows Before You Do

The Kosher Gourmet by Betty Rosbottom Coconut Walnut Bars' golden brown morsels are a beautifully balanced delectable delight

April 18, 2014

Rabbi Yonason Goldson: Clarifying one of the greatest philosophical conundrums in theology

Caroline B. Glick: The disappearance of US will

Megan Wallgren: 10 things I've learned from my teenagers

Lizette Borreli: Green Tea Boosts Brain Power, May Help Treat Dementia

John Ericson: Trying hard to be 'positive' but never succeeding? Blame Your Brain

The Kosher Gourmet by Julie Rothman Almondy, flourless torta del re (Italian king's cake), has royal roots, is simple to make, . . . but devour it because it's simply delicious

April 14, 2014

Rabbi Dr Naftali Brawer: Passover frees us from the tyranny of time

Greg Crosby: Passing Over Religion

Eric Schulzke: First degree: How America really recovered from a murder epidemic

Georgia Lee: When love is not enough: Teaching your kids about the realities of adult relationships

Cameron Huddleston: Freebies for Your Lawn and Garden

Gordon Pape: How you can tell if your financial adviser is setting you up for potential ruin

Dana Dovey: Up to 500,000 people die each year from hepatitis C-related liver disease. New Treatment Has Over 90% Success Rate

Justin Caba: Eating Watermelon Can Help Control High Blood Pressure

The Kosher Gourmet by Joshua E. London and Lou Marmon Don't dare pass over these Pesach picks for Manischewitz!

April 11, 2014

Rabbi Hillel Goldberg: Silence is much more than golden

Caroline B. Glick: Forgetting freedom at Passover

Susan Swann: How to value a child for who he is, not just what he does

Cameron Huddleston: 7 Financial Tasks You Should Tackle Right Now

Sandra Block and Lisa Gerstner: How to Profit From Your Passion

Susan Scutti: A Simple Blood Test Might Soon Diagnose Cancer

Chris Weller: Have A Slow Metabolism? Let Science Speed It Up For You

The Kosher Gourmet by Diane Rossen Worthington Whitefish Terrine: A French take on gefilte fish

April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review Nov 21, 2011 / 24 Mar-Cheshvan, 5772

Put Tax Breaks for Mortgages, Local Taxes on Table

By Michael Barone




http://www.JewishWorldReview.com | Supercommittee members Sen. Pat Toomey and Rep. Jeb Hensarling are taking flak from some conservatives for proposing a deal including increases in "revenues," and a Washington Post reporter had some fun insinuating that they were backing a tax-rate increase.

As this is written, no one knows what the supercommittee will do (or not do), but it's worth taking a look at what Toomey and Hensarling actually were talking about. It may not matter now, but could after 2012.

They were raising the possibility, as Barack Obama's Bowles-Simpson commission did last December, of a tax reform bill that, like the 1986 tax reform act, would eliminate tax preferences and lower tax rates.

The 1986 bill was passed with bipartisan support, and there's a potential for bipartisan support again.

The problem in putting such a measure together is that most really egregious tax preferences don't add up to much money. Just as the big money for long-term spending cuts must come from changes in entitlements — Social Security, Medicare, Medicaid — so the big money you can get from eliminating tax preferences comes from three provisions that are widely popular.

The three are the charitable deduction, the home mortgage interest deduction, and the state and local tax deduction.

The charitable deduction should probably be off the table. The Obama administration has proposed reducing it for high earners. But this obvious attempt to channel flows of money away from the voluntary sector and toward the federal government went nowhere even when Democrats controlled the House and had a supermajority in the Senate. It's anathema to many Democrats and just about all Republicans.

The home mortgage interest deduction may seem similarly sacrosanct. But the fact that the vast bulk of the "tax expenditures" — the money the government doesn't receive because taxpayers deduct mortgage interest payments from total income — goes to high earners with big, expensive houses.

Traditionally it's been argued that government should provide incentives for homeownership because homeowners more than renters have a stake in their community. But it's obvious now that we have over-incentivized homeownership, with government encouraging loans to noncreditworthy borrowers.

At the same time, high earners don't need an incentive to buy a home. If we limit the mortgage interest deduction to some amount near the median housing price, some folks will still buy $1 million homes, though they may finance them a little differently. And the government can get more revenue without an economy-crushing tax rate increase.

Similarly, what about a cap on the state and local tax deduction? Initial conservative reaction will likely be hostile: Why increase some people's federal tax bills? Isn't that attacking a core Republican constituency?

Actually, it's not and not. The state and local tax deduction is worth a lot more to high earners than to modest earners, and it's worth nothing to the nearly half of households that don't pay federal income tax.

But it's worth the most to high earners in high-tax, high-spending states. Those people are more likely to be Democrats than Republicans. The 2008 exit poll tells the story.

Nationally, voters with incomes over $100,000 voted 49 percent to 49 percent in the presidential race. Those with incomes over $200,000 voted 52 percent to 46 percent for Barack Obama.

In high-tax, high-spending states, Obama did even better with high earners. He carried $100,000-plus voters with 55 percent in Connecticut, 56 percent in New York, 52 percent in New Jersey, 55 percent in Maryland, 54 percent in Illinois and 57 percent in California.

All those states have high state income taxes except for Illinois, and it increased its income tax rate by two-thirds earlier this year. And those states contain a huge share of the nation's highest-priced housing.

In contrast, in low-tax, low-spending states with relatively inexpensive housing, $100,000-plus voters favored John McCain, who won 65 percent of their votes in Texas, 55 percent in Florida and 61 percent in Georgia.

It is no coincidence that the high-tax, high-spending states tend to have strong public employee unions. In effect, the unlimited state and local tax deduction is a federal subsidy of the indefensibly high pay, benefits and pensions of public employee union members. Limiting the state and local tax deduction would create a political incentive to hold those costs down.

So ironically, limiting high earners' lucrative tax deductions may prove a harder sell among Democrats than Republicans. But maybe Republicans should give it a try anyway.

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JWR contributor Michael Barone is senior political analyst for The Washington Examiner.




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