Both payroll bills inherently deceptive

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Congressman Tom McClintock (R-CA) Tuesday (Dec. 20) delivered the following remarks on the House floor regarding the payroll tax legislation debate: “In all this debate, I fear both parties have missed a critical point. Both versions of this bill impose a permanent new tax on every mortgage backed by Fannie Mae and Freddie Mac. To pay for an additional two months of tax relief under the Senate version or 12 months under the House version, more than $3,000 of new taxes will be imposed on every $150,000 mortgage backed by Fannie or Freddie. A family taking out a $250,000 mortgage will pay $5,000 more in taxes – directly and solely because of this bill – hidden in their future mortgage payments. This is atrocious public policy. It shifts the burden for this bill to future homebuyers, kicks the housing market when it’s already down, makes it that much more expensive for home buyers to re-enter that market, and adds to the pressures that have chronically depressed everyone’s home values. That’s the reason that both the Senate and the House versions need to go back for major revision.” Once again our elected officials have tried to deceive us, and it is obvious that most politicians on both sides just don’t get it. Apparently McClintock does! To pay for two months of payroll tax deductions by applying “permanent” mortgage taxes is their attempt at subterfuge which is immoral, wrong and corrupt. Spending is the problem and Washington corruption continues to kick the can down the road. They don’t deal with the real issues of fiscal responsibility: less government interference, taxation reform, transparency, accountability in all departments, corruption at all levels including Wall Street and Federal Reserve. “The Constitution is not an instrument for the government to restrain people; it is an instrument for the people to restrain the government.” – Patrick Henry Steve Cavolt, Auburn