be saddled with about $20,000 more in debt. there are two big winners here, willie, it s corporate america, who has been doing really, really well over the last few years, profits are up, and the chinese government. because it s 1.5 trillion, but then we borrow that with interest over 10 years. it s going to be more like $2.3 trillion that we will borrow primarily from the chinese and maybe the saudi arabians. that s debt that s going to go on to the family in akron, ohio or youngstown, ohio. they re going to be forced to pay it. all the while the benefits for corporate america with the corporate tax, for example, is made permanent, and any slight benefit that may go to a working class family is gone after just a year or two and millions of american working class families are going to see a tax increase. if you look at the deductions, for example, student loan deduction, gone. medical health care deduction
congressional budget office put out here. but it does not verify what you just said at all. if you make $30,000 a year, it shows the amount that you are going to pay out of pocket if you are out on the individual market is some $10,000 a year or more. bill: but that is before the health care deduction. the cbo, which by the way, wildly missed the obamacare predictions, they didn t even take into account what would happen if the pinheads in washington could ever pass the insurance companies competing. they didn t take that intoou account. it would drive down premiums for all is this your thing about crossing the state lines? bill: yeah. the cbo didn t even take that -s the congressional budget office concerns things in the s budget. it has never evaluated
you would not have gone through the details of what the congressional budget office put out here. but it does not verify what you just said at all. if you make $30,000 a year, it shows the amount that you are going to pay out of pocket if you are out on the individual market is some $10,000 a year or more. bill: but that is before the health care deduction. the cbo, which by the way, wildly missed the obamacare predictions, they didn t even take into account what would happen if the pinheads in washington could ever pass the insurance companies competing. they didn t take that into account. it would drive down premiums for all is this your thing about crossing the state lines? bill: yeah. the cbo didn t even take that the congressional budget office concerns things in the
margin when they should be renting to buy and that creates a different world for the industry. you build a lot more houses that are to be bought instead of to rent. so even people who want to rent end up not being able to find the housing stuff that you would need to raise a family particularly in a lot of urban centers and then you end up having a situation where they need the mortgage interest tax deduction and fannie mae and freddie mac and the politics of it begin to feed on it self such that homeownership becomes absolutely, you know, entrenched as this incredible bias in american public policy. right. it s like if one person stands up at a stadium they re fine but when everyone stands off, no one is better off. mortgage interest deduction going into the housing market raises prices in such a way that it kind of gets eaten into whatever benefit you got in the first place. kind of like the health care deduction. this is a state where that accidentally became very
right. it s like if one person stands up at a stadium they re fine but when everyone stands off, no one is better off. mortgage interest deduction going into the housing market raises prices in such a way that it kind of gets eaten into whatever benefit you got in the first place. kind of like the health care deduction. this is a state where that accidentally became very important. it actually was never designed as a specific housing program. it fell into the code when it was adopted. i think studies are clear it doesn t actually benefit homeownership. most of it is soaked up at the very top end in part because you have to deduct. the more you pay in taxes, the more the benefit is. if you take the standard deduction you don t get it. yes. and if you have a huge mortgage payment you get more value out of it. so kind of like health care deduction. it s something that becomes central to how we employer provided health care deduction is central to how we see middle class life and w