By Jacques Cook - 10/06/08 05:44 PM EDT
(Regarding column, “There’s still time, John McCainJohn McCainIs Georgia turning blue? High anxiety for GOP Trump: 'Very disappointed' GOP senator dropped support MORE,” Sept. 30) Dick Morris has a knack for making bad political predictions and recommendations. I can’t figure how he could think that Republican presidential nominee Sen. John McCain (Ariz.) should maneuver himself away from the rescue bill so he could pin it onto the back of his Democratic opponent Sen. Barack ObamaBarack ObamaObama promotes new airline regulations Is Georgia turning blue? Five takeaways from money race MORE (Ill.).
If McCain had opposed the rescue package, he would have had to live with the obvious consequences of its possible rejection by Congress. That would have placed him in the unenviable position of having to justify his position to a confused public while the economy sank further into the abyss.
I think Dick Morris does not care if you lose, as long as you lose with style. I don’t think any candidate would want to take that kind of gamble on a matter of national importance, no matter how unpopular the action taken by the government. …
Silver Spring, Md.
Change tax code for mortgage deductions
From Jon Hendl
In order to galvanize support from Main Street for the bailout of Wall Street financial institutions, perhaps it’s time for Congress to provide more concessions to the average American family. Job loss is on the rise and salary increases aren’t keeping stride with cost-of-living increases.
American families are the backbone of the U.S. economy, and a family’s single biggest investment — especially in troubled financial times — is its home. Instead of just focusing on bailing out the financial institutions, Congress should focus on making life a little easier for American homeowners. It can do so without creating a stimulus package for homeowners or fronting billions of dollars in a bailout.
Change the tax code. Similar to a 401(k) or medical savings accounts, Congress should change the tax code so families can deduct their primary home mortgage payments from their paychecks prior to paying federal or state income tax. That will ensure mortgage payments are made, will allow older families to refinance and pay for college and will guarantee that the federal and state income tax actually reflects a family’s “take home” pay.
Glen Rock, N.J.
Don’t burden children
From Dan Fenton
I do not want my children saddled with this debt to bail out bankers, corporations or Wall Street because of their own greed and poor business judgment.
If my savings goes down the tubes or my brokerage account drops like a stone because of these unscrupulous scoundrels, so be it. But please do not saddle my children with these tax debts.