All Praise the Loss of Mortgage Deductions

Believe it or not, I’m delighted that our Moron-In-Chief’s commission on simplifying taxes has considered slashing the Mortgage deduction. This brings me no end of happiness.

This is not because I want to see all my home-owning friends suffer, but because the housing market is just out of control. The National Association of Realtors, a totally disinterested group, says the change would have “a devastating effect on the nation’s housing economy.” Good. The housing economy is currently ridiculous.

The NAR’s claim is that housing prices would drop by 15%. Considering that a reasonable single family home in Newburyport sells for between $450 and $550 thousand, this would bring the prices down to a mere $382 to $467 thousand.

Moment of Clarity

Has anyone else noted the irony?

Looking at the anarchy that is the aftermath of Hurricane Katrina, it occurred to me today that if they weren’t off getting killed in Iraq, we’d have a heck of a lot more National Guardsmen to help out in New Orleans…

I’m not the praying sort these days, but I am certainly sending out a plea for those who need help right now.

What Next ?!?!?

I am unbelievably furious and depressed both. I cannot believe what is happening in our country at this moment in time. I nearly regret bringing a child into this mess.

Last week, both the House and Senate passed the Energy Policy Act of 2005 (see each link for summary text). Although this bill does grant tax incentives for individuals buying hybrid vehicles and energy-efficient appliances, it also gives billions of dollars for oil drilling in the Gulf of Mexico, as well as exploration of the same in the Arctic National Wildlife Refuge. Is hydrogen produced by nuclear energy really the answer to our fuel needs? Will we really conserve that much extra energy by extending daylight savings time?

I am deeply disappointed in my Senators, Kennedy and Kerry, who decided to vote for this bill. I even made a point of writing to them to encourage them to give this matter more thought.

In other depressing news, Bush named John Bolton as ambassador to the U.N.. While it is no secret that I do not like our President, I continue to be amazed and appalled by how much he seems to dislike us. While he is legally able to bypass the Senate, this action makes him appear like a spoiled, pouty, vengeful child who is willing to do whatever it takes to get his way. And sadly, he consistently does.

I cannot speak for Mr. Bolton’s character. However, I believe that in spite of Kofi Annan’s declaration that he will be welcomed in the U.N., he will not receive much respect from the other members. How can he? He represents the President only, because the people’s representatives did not appoint him to the office.

Our leaders are supposed to represent the best interests of the nation. Yet, I cringe when I think of explaining our current leaders’ actions to our child. How can I convince our child to respect the environment, and to be willing to conserve resources when the solution offered to us by the powers that be is to use wasteful forms of energy obtained from areas that are supposedly preserved for the public? How can I ask our child to respect authority and to attempt to get along with others, when our President consistently subverts authority and bullies those who hold differing opinions in order to ensure that his is the only opinion that counts?

What is this country coming to? Is America still worth fighting for, and if not, what are we still doing here?