Brian Baker: Republicans shooting themselves in the foot

By Brian Baker

Last update: Wednesday, June 28th, 2017

On June 19 The Signal published an opinion letter by Thomas Oatway entitled “Legislators must stand up against potential tax reform threats.”

In that letter Thomas urged Congressman Steve Knight and other California Republicans to “fight to derail this plan,” and I want to add my voice to that chorus.

As Oatway correctly pointed out, eliminating the federal tax deduction for home mortgage interest and property taxes will have a very negative impact on home ownership, particularly for the middle class.

Why would the GOP be so stupid as to eliminate the deductions that their natural base depends on? It would be electoral suicide.

This is yet another loony proposal popping from the “mind” of Paul Ryan, a nerd without a lick of common sense.

Congressional Republicans promoting this plan claim that by increasing the personal exemption and decreasing the number of brackets, these eliminations will be essentially “harmless,” and they’ll still be there for people who elect to itemize their deductions.

But eliminating the mortgage and property tax deductions is going to immediately cause home values to drop (http://www.businessinsider.com/gop-tax-plan-could-affect-real-estate-market-2017-1).

Who owns most homes numerically? The middle class, the exact same demographic from which the GOP draws most of its support.

So, as those people sit there with their ongoing mortgages and property taxes, they’re going to see the value of their homes drop out from under their feet.

Then there’s the secondary, or ripple, effect. As home values drop, so do rental values. So those who own investment properties are going to see their income decrease as rental incomes chase property values down. That’s a direct effect on income for those people.

As a homeowner, I’m looking at personally losing almost $50K in hard equity from my house. Why would I think that’s any kind of good idea at all?

That’s exactly the same thing as taking $50,000 out of my savings account. Why would I vote for someone who wants to do that? I may as well vote for a Democrat!

Who actually benefits from this? People who can’t afford to buy homes, or others who are renters, and I’d guess the majority of them are people who support Dems.

So in reality, the GOP will manage to alienate middle class homeowners and investment owners, their natural base (as I said), while providing a benefit for people who are never going to vote for them anyway.

In what alternate universe does that sound like a good idea?

Brian Baker is a Saugus resident.

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Brian Baker: Republicans shooting themselves in the foot

On June 19 The Signal published an opinion letter by Thomas Oatway entitled “Legislators must stand up against potential tax reform threats.”

In that letter Thomas urged Congressman Steve Knight and other California Republicans to “fight to derail this plan,” and I want to add my voice to that chorus.

As Oatway correctly pointed out, eliminating the federal tax deduction for home mortgage interest and property taxes will have a very negative impact on home ownership, particularly for the middle class.

Why would the GOP be so stupid as to eliminate the deductions that their natural base depends on? It would be electoral suicide.

This is yet another loony proposal popping from the “mind” of Paul Ryan, a nerd without a lick of common sense.

Congressional Republicans promoting this plan claim that by increasing the personal exemption and decreasing the number of brackets, these eliminations will be essentially “harmless,” and they’ll still be there for people who elect to itemize their deductions.

But eliminating the mortgage and property tax deductions is going to immediately cause home values to drop (http://www.businessinsider.com/gop-tax-plan-could-affect-real-estate-market-2017-1).

Who owns most homes numerically? The middle class, the exact same demographic from which the GOP draws most of its support.

So, as those people sit there with their ongoing mortgages and property taxes, they’re going to see the value of their homes drop out from under their feet.

Then there’s the secondary, or ripple, effect. As home values drop, so do rental values. So those who own investment properties are going to see their income decrease as rental incomes chase property values down. That’s a direct effect on income for those people.

As a homeowner, I’m looking at personally losing almost $50K in hard equity from my house. Why would I think that’s any kind of good idea at all?

That’s exactly the same thing as taking $50,000 out of my savings account. Why would I vote for someone who wants to do that? I may as well vote for a Democrat!

Who actually benefits from this? People who can’t afford to buy homes, or others who are renters, and I’d guess the majority of them are people who support Dems.

So in reality, the GOP will manage to alienate middle class homeowners and investment owners, their natural base (as I said), while providing a benefit for people who are never going to vote for them anyway.

In what alternate universe does that sound like a good idea?

Brian Baker is a Saugus resident.

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Brian Baker

Brian Baker

  • lois eisenberg

    “Why would the GOP be so stupid as to eliminate the deductions that their natural base depends on? It would be electoral suicide.” BINGO *****

  • lois eisenberg

    “Paul Ryan, a nerd without a lick of common sense.” BINGO ****

  • Brian Baker

    Gary, does this mean they’re handing out snow shovels in aitch-ee-double-ell?

    You wrote: “I understand that the deduction always was a giveaway to the middle class
    and to encourage stability though homeownership. But what’s so wrong about that? It was a social engineering decision and it has largely worked and helped literally hundreds of millions of Americans though the years.”

    Exactly right. People who own their properties tend to be more stable, in that they’re personally invested in their locality. It’s not easy to sell your home and move, as opposed to renters, who can simply throw everything in the truck and hit the bricks. So, being “anchored” to the area, owners will take a more personal interest in maintaining the values of that area, both financially and socially/culturally. This leads to an enhanced standard of living for all.

  • Brian Baker

    Yeah, no kidding.

  • Ron Bischof

    Prediction: the mortgage interest deduction won’t be eliminated.

    This is political theater and will soon be rendered moot.

  • lois eisenberg

    Talk about a Republican shooting themselves in the foot ***
    The sleaze is at it again******
    “Creep-in-chief interrupted a call with the Irish prime minister to comment on a reporter’s looks”
    The p—y grabber hasn’t lost his touch ( pun intended)

    • Ron Bischof

      Off topic. Again.

      • lois eisenberg

        Just trying to keep you formed what the groper-in-chief is doing ****

        • Ron Bischof

          Then you failed. Again.

          • lois eisenberg

            Talking about failing the liar-in-chief is doing a pretty good job. **

          • Ron Bischof

            It is, is it? Other than spamming your off-topic feelings in a local public forum, what have you accomplished that would merit an estimation by a 3rd party that you’re “doing a pretty good job”, Ms. Eisenberg?

          • lois eisenberg

            Tweet, tweet, tweet the topic of the day ***

      • Brian Baker

        You see, Ron? It’s important that you stay “formed”.

        It’s a terrible thing if one fails to stay “formed”. I suppose one melts onto the ground into a puddle.

        • Ron Bischof

          Perhaps it’s an admission that the level of intellect conveyed in her comments challenges the molecular integrity of the brains thus exposed, Brian.

          • Brian Baker

            HAhahahahaha!
            Perfect!

          • lois eisenberg

            The news of the day tweets,tweets,tweets **
            HAhahahahaha! Perfect *****

          • lois eisenberg

            Naughty, naughty, naughty
            I thought that type of personal posting had ceased ******

        • Ron Bischof
  • lois eisenberg

    “It’s a sad day for America when the president spends his time bullying, lying and spewing petty personal attacks instead of doing his job.”
    It’s a sad day and shameful day when the American women supporters
    voted this perverted evil man to become President of U.S.

  • lois eisenberg

    “It is really not normal’: Both sides condemn Trump for vulgar tweet about TV host”
    And this your President of U.S. ***
    This is only going to get worst as predicted *****

  • lois eisenberg

    Michael Cohen Goes From Trump’s Inner Circle to Scrutiny by the FBI the in the Russian Investigation***
    Oh My another one of the liar-in-chief’s puppets under scrutiny.
    I wonder how many more will come down the pipe line ??

  • lois eisenberg

    “This Republican government is anything but productive, and Ryan has to stop lying about it.”