Author: mlr701

It’s been a while since I’ve seen a mojo diary, so I thought I’d start one....

Yesterday, I read an article about Bill Clinton in which he said he owned about 5,000 books....

From USA Today:    Tax proposal for less paper, but fewer deductions

So Bush’s tax commission has decided to “simplify” tax forms — by eliminating many popular deductions in favor of a “family credit”, which would include raising the per-child deduction to $1,500.   Also (and here’s the kicker that’s going to cost all of us), the tax commission, concerned about all the people being caught by the Alternative Minimum Tax, proposes to repeal the AMT.  

This is probably great news if you’re affected by AMT (see below for percentages of people affected — and note the income ranges).  Note that the numbers used to calculate AMT have never been adjusted for inflation.  

However, here’s what will be eliminated or reduced to pay for AMT repeal:

1.  State and Local propery tax deductions
2.  Student Loan interest deductions
3.  Mortage interest and health insurance deductions

Wesley Clark has an interesting column in yesterday’s Washington Post:  Before...

Two days a year, I get up in the morning and hang an American flag on our front porch:...