Provided via Craig Curreri, Pacific Union International
Originally posted December 6, 2012
Limits on the mortgage-interest tax deduction are looking more likely after President Barack Obama said this week that tax breaks benefiting middle-class families could be at risk if taxes for the wealthiest Americans are not increased.
Few political observers expect the popular tax deduction to be eliminated, but several proposals floated in Washington in recent weeks could limit deductions on second homes, lower the current $1 million mortgage deduction cap by as much as $500,000, or cap deductions across the board.
Obama and congressional leaders are engaged in an escalating war of words as they work to hammer out a budget plan and avoid a fast-approaching “fiscal cliff” — the steep tax increases and spending cuts that would otherwise take effect in January due to legislation that mandates draconian measures if Democrats and Republicans fail to agree on ways to reduce the public debt.
OLDEST AMERICANS LIVING LONGER AND RICHER LIVES
August 21, 2012 NPR.org, by Richard Knox
America’s oldest citizens are generally getting healthier, living longer and doing better financially. But there’s lots of room for improvement.
That’s the take-home from an exhaustive picture of Americans over 65 put together by the federal government and released last week during the summer doldrums.
Long-term gains in longevity continue. Today’s 65-year-olds can expect to live a tad over 20 more years. That’s a huge jump from 1980, when 65-year-olds could expect 14 more years of life. A big part of the reason is that deaths from heart disease and stroke have plummeted by nearly 50 percent.
Read the rest of this NPR article here.