You thought that you were getting a break on your payroll taxes….and you were.
But to make up for it, they are taxing new mortgages. About $8 per month for the average mortgage.
They didn’t cut the taxes, they shifted them to homeowners. And fucked them hard in the process…(and they didn’t buy them dinner first…not even a drink.)
So if you are an average person, making $50k per year, you saved about 170 dollars on the 2 month break on payroll taxes….but if you refinance your home to take advantage of the current lower interest rates, the feds are gonna take about $200 a year for the life of the loan. yep, they saved you a few months higher taxes, and jammed you with a different tax…for 15 or 30 years.
Remember this when you vote. It matters not what letter is behind that name. The D or R no longer means anything. They are all bad…some are worse, but all are bad. One wonders why the politicians are suprised that the citizens hold them in contempt.
The worst part is that the News Media is choosing NOT to report this, generally.