The fact is that if you remove the deduction it's going to kill the housing market that is just now starting to turn around.
It's a cheap ploy to shift the tax burden to the working and middle class homeowner, the ones who depend on this deduction to make their mortgage payment.
And the result will be another recession because the whole economy depends on the housing market.
The Way Forward: End Tax Expenditures
Re: The Way Forward: End Tax Expenditures
by G5000 » Wed Dec 05, 2012 6:20 pm
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We have so many people who can't see a fat man standing beside a thin one without coming to the conclusion the fat man got that way by taking advantage of the thin one. - Ronald Reagan
We have so many people who can't see a fat man standing beside a thin one without coming to the conclusion the fat man got that way by taking advantage of the thin one. - Ronald Reagan
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Re: The Way Forward: End Tax Expenditures
by G5000 » Wed Dec 05, 2012 6:22 pm
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We have so many people who can't see a fat man standing beside a thin one without coming to the conclusion the fat man got that way by taking advantage of the thin one. - Ronald Reagan
We have so many people who can't see a fat man standing beside a thin one without coming to the conclusion the fat man got that way by taking advantage of the thin one. - Ronald Reagan
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Re: The Way Forward: End Tax Expenditures
by The Dharma Bum » Wed Dec 05, 2012 6:22 pm
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Re: The Way Forward: End Tax Expenditures
by The Dharma Bum » Wed Dec 05, 2012 6:24 pm
We'll see who get's more people to write their congressman about it. You better get cracking because I'm a couple dozen ahead of you.
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Re: The Way Forward: End Tax Expenditures
by Bill_in_Bethlehem » Wed Dec 05, 2012 6:28 pm
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Re: The Way Forward: End Tax Expenditures
by The Dharma Bum » Wed Dec 05, 2012 6:57 pm
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Re: The Way Forward: End Tax Expenditures
by The Dharma Bum » Wed Dec 05, 2012 7:00 pm
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Re: The Way Forward: End Tax Expenditures
by The Comrade » Wed Dec 05, 2012 7:19 pm
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Re: The Way Forward: End Tax Expenditures
by The Comrade » Wed Dec 05, 2012 7:20 pm
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Re: The Way Forward: End Tax Expenditures
by Kane » Wed Dec 05, 2012 10:38 pm
Well, not to rain on the parade or anything, but wouldn't removing the interest rate deduction on homes be a bad idea right now? I understand that it's all about phasing it in but if it gets enacted and home values do drop people lose more equity in their homes (IF they still have any left)...right?
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