Saturday, May 23, 2009

Tax - Issues. Who is fiduciary; what is charity; why not favor repairs, exemptions

 Government as Fiduciary.  Review tax exemptions. Need tax overhaul.

Government As Fiduciary for Taxpayer Funds.  This means fiduciary obligations and disclosures to taxpayers in all matters.

Supporting the tax deduction for charitable giving.
Criteria for tax deduction / exemption for a donor's charitable giving.  Service as well as bucks required. 

Relief to modest home dwellers.
Primary Residence To Be Exempt from Property Tax to Assessed Value $350,000.  This frees up community money to be spent more widely, and enables ordinary folk to stay in their homes.

Give a deduction for ordinary repairs.
Home Improvement Tax Deduction for Day-to-Day Repairs  This provision does not necessarily add to the market value of the home, but the deduction here improves the after-tax disposable income of the homeowner who engages in repairs, much needed in the economy.

Need overhaul. Too convoluted and the middle spine, holding up the country, loses.

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