Elimination of the home mortgage tax deduction

  • Thread starter Thread starter Sgt. Baker
  • Start date Start date
What would the effects be? Seeing as this is a significant deduction that a lrabroad
of middle income people take advantage of could it cause further economic hardship for people and increase foreclosures?
 
Because if so many people want to talk about helping the middle class, interest on the first million of the value is doing more for the upper class than the middle class. Cut the deduction to the interest on the first $275,000, and use the additional revenues for deficit reduction.
 
I couldn't care less about encouraging people to purchase McMansions in California.
 
Of the things you listed only two encourage economic freedom. So no I'm nrabroad
a hyppocrite. I don't believe the poor are best served by being treated for their poverty instead of being encouraged to cure themselves of it. Reward the working poor for their good credit offer incentives and breaks but don't just deliver a check for 2 years because over time that will degrade and demoralize the person recieving the check.
 
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