Re: Fair Tax
[quote=MonkeyMama]
But all the same we make about $60k a year income-tax free due to tax breaks. For now there are big tax perks to owning a home and having kids. If those are removed for one I know it would affect real estate BIG TIME in California and other high COL areas. How do people afford these insane prices? They rely a lot on tax breaks for the HIGH property taxes and mortgages.
QUOTE]
That's just the thing though--why should people with mortgages get tax breaks while people who rent do not? Why should people get a tax break because they have kid? That's the rub with the Fair Tax, people are going to have to give up their little tax breaks that aren't available to everyone.
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