EFTA02498814.pdf

From: jeffrey E. <[email protected]> Sent: Sunday, June 7, 2015 5:31 AM To: Noam Chomsky Subject: home mortgage deduction , again , one needs to read to the end of the story to=reach a more complete conclusion. the home mortgage dedu=tion as i said cost the govt approx 150 billion dollars in revenue.=C2 easy to verify, as a result of the deduction=allowed , as you postulated, for the top earners. . However,=C2 a deduction , no matter how large- has no revenue impact=C2 whatsoever, if it cannot actually be used to offset otherwise payab=e tax. . it is not a credit, it is a deduction. two yea=s ago the amount, due to the home interest deduction a was 112 billi=n in lost tax REVENUE. However that being said the govt =nstituted an Alternative Minimum tax .- in essence to balance =ut the perceived disproportional nature of the benefit . It ap=lication means that you cannot deduct any amount above a certain limit aga=nst your income. no matter how high your deductions. targeted at you= favorite whipping boys. this alt min tax raised 270 billion this y=ar alone .. a net positive for the govt. .scheme - =AO allowing a deduction . keeping the lobbyists happy , but d=nying its effficacy by imposing a limit on its use. and in most cases elim=nating any real net benefit to the high income filer =AO Fun isnt it.? , ! much easeier for me to explai= that copy movement etc. look forward to our next encounter please note The info=mation contained in this communication is confidential, may be attorney=client privileged, may constitute inside information, and is intended o=ly for the use of the addressee. It is the property of JEE Unauth=rized use, disclosure or copying of this communication or any part ther=of is strictly prohibited and may be unlawful. If you have received thi= communication in error, please notify us immediately by return e-ma=l or by e-mail to [email protected] <mailto:[email protected]> , and destroy this communication and all cop=es thereof, including all attachments. copyright -all rights reserved 1 EFTA_R1_01624541 EFTA02498814