10222014Wed
Last updateMon, 20 Oct 2014 3pm
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Involuntary Hogicide: NYC Mayor de Blasio groundhog slayer!

Involuntary Hogicide: NYC Mayor de Blasio groundhog slayer!

(New York Post) Mayor Bill de Blasio has groundhog bloo...

D’Souza spared prison time

D’Souza spared prison time

Conservative writer/filmmaker Dinesh D’Souza was spared...

Biden 2012: Romney Wants to Go to War with Syria

Biden 2012: Romney Wants to Go to War with Syria

(NRO) Joe Biden mocked Mitt Romney’s foreign policy dur...

Al 'Climate Pimp' Gore Exits Lemming and Loons Climate March so Not in a Prius

Al 'Climate Pimp' Gore Exits Lemming and Loons Climate March so Not in a Prius

Former Vice President Al Gore made his exit from Sunday...

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U.S Banks Post Second-Highest Profit in 23 Years in 2Q 2014

U.S Banks Post Second-Highest Profit in 23 Years in 2Q 2014

( Wall Street Journal ) Banks are lending to companies and individuals at the fast...

O'Malley targets Mortgage Interest Deduction

Annapolis -- Under Governor O'Malley's proposed budget, many Maryland homeowners will face a severe cap on their mortgage interest deduction.

 The plan will decrease the most important tax deduction that homeowners receive and will make it even harder to own a home in Maryland.

The proposal is part of the Governor's budget bill, (BRFA- HB 87/SB 152) which seeks to balance the state budget in part by reducing the amount of deductions on Marylanders who make over $100,000.

O'Malley has targeted these taxpayers and calls them "high income earners." Their itemized deductions would decrease by 10%. If you make over $200,000 yearly, your deductions would decrease by 20%.

Marylanders would face a decrease in itemized tax deductions at a time when one out of every five homes is underwater or has lost significant equity.

For nearly 100 years, the tax code has protected mortgage interest deductibility.  Mortgage interest and property taxes account for almost 70% of total itemized deductions in Maryland and if passed, it would further harm Maryland's housing market, which is struggling to recover. The Maryland housing market is still fragile and this would keep potential buyers sitting on the sidelines.

Additionally, there is a possibility that the Administration will continue to reduce this important tax benefit in the future.

We urge Governor O'Malley and other members of the Maryland General Assembly to rethink this detrimental proposal.

If you want to speak out, contact your State legislator at the link below.

http://www.savemdmid.com/

" Tenderness and kindness are not signs of weakness and despair, but manifestations of strength and resolution.-- Kahlil Gibran "

-- Kahlil Gibran

Please consider contributing, if only a couple of bucks, the cost of countering the liberal media is arduous and costly.

  

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