About those Republican tax cuts.

[Skwmom]

Does anyone else remember when the Republicans lowered the tax rate but took away many deductions including:

1. You have to reduce your health care deductions by 7.5% of your AGI.
2. You have to reduce your job and other misc expenses by 2% of your AGI.
2. Charitable deductions are no longer on the face of the 1040 (the only way you get a deduction is if you file Schedule A).
3. They eliminated the deduction for personal interest expense.

What they gave with one hand they took away with the other. McCain is playing the SAME game. He wants to give a small tax break to some of the working class but then TAX their health care benefits.

[DesertFlower]

1. i remember it well.

i'm 67 and we have never had a tax cut. health used to be 3% and drugs 1% of AGI. credit card interest was tax deductible asd was gas and sales tax.

anyone who is of a certain age and has done their own taxes knows this.