Good Old, Good Old...

It sure hasn't taken President Obama long to prove that Democrats - just like Republicans - are unable to get away from demagoguery and cannot help but put their ideology ahead of logic. Although it hurts, I understand the need to roll back President Bush's tax cuts, bringing the top rate back to 39%. But limiting deductions on mortgages and charitable contributions to 28%? Think of the poor bloke who took out a $1 million mortgage, conservative in view of his and his wife's salaries. He will have to pay, now, over 10% net more, even if he or his wife may have been laid-off. Is that a stimulus to the economy? No! It's just a slap in the face to someone who has put off his earning career by 6 years, has spent $300,000 (some of which he may still be repaying) to get an education and has worked like an ass for the first few years out of university, on call 24/7.Well done Mr. President! As for charitable contributions, I have already trimmed drastically my annual list in order to compensate for 7% I will no longer be able to deduct; I am certain I am not the only one. Great help to the Arts, charities and to education, where most of my contributions go. Plus sa change plus c'est la meme chose. Politicians cannot help themselves and if you think you see a lamb it is, most likely, a wolf wearing fleece.