Guest columnist Ann C. Logue on misguided tax incentives, businesses you’ve never heard of that are crucial to holiday enjoyment, and one good argument for legalizing fireworks in Illinois.
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Ann C. Logue
Letter From Chicago: The Breakfast Club
Guest columnist Ann C. Logue on wasteful breakfast programs, the race for the nutdish, and when a city should no longer be a city.
Raising the Roof on Debt
The United States has $14.3 trillion in debt outstanding, and our nation borrows money every month. In fact, we’re just below the maximum amount of debt that the Treasury is authorized to borrow, and Secretary of the Treasury Timothy Geithner estimates that the upper limit will be hit on May 16. Congress can either raise the debt ceiling, or the government will begin to default on its debt because current revenues will not cover the interest and principal due.
The Problem Of Underwater Mortgages
Ann C. Logue on why negative equity issues persist despite a government program designed to stimulate the housing market that went into effect a year ago.
Letter From Chicago: Our Cheddar-Headed Neighbors To The North
Guest columnist Ann C. Logue has things to say about misunderstood Milwaukee and state-subsidized rodeos.
In the United States, homeowners can deduct mortgage interest on up to $1.1 million in borrowing from their income when calculating taxes. But although 66.9% of Americans are homeowners, fewer than a third of taxpayers receive the mortgage interest deduction.
Too many people have interpreted the mortgage interest deduction as the government paying the mortgage. They believe it is a tax break given to homeowners when, in fact, homeowners have to pay a lot of interest before they can get it.
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