The Way Forward: End Tax Expenditures

[G5000]

Removing the mortgage interest deduction will have no effect on home ownership.

Even The Dharma Bum's own links say "people will buy homes whether the credit is there or not".

For those who already own a home, the deduction should be grandfathered since the deduction was added to the price of the house.


Removing tax expenditures allows for tax rates to be lowered for everyone. This is the part Dharma Bum takes pains to deliberately ignore.

And it is good for the economy since the markets will not be directed by federal central planning.

It is also promotes better government since special interests would not waste money bribing a Congressman to alter the tax code to their advantage if the Congressman cannot alter the tax code.


I would not take seriously the arguments of someone who believes their livelihood is dependent on a special tax break for their business sector.



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[G5000]

[Hyperion]

[The Dude]

[fstarcstar]

And if we could remove entitlement taxes as well the middle class and poor would have plenty more to spend.

[The Dharma Bum]

[The Dharma Bum]

The only way that removing the mortgage deductible is reasonable is if there is a corresponding drop in the overall marginal tax rate. Other than that it is a run of the mill backdoor ploy to raise taxes on the already stressed middle class.

[Kane]

[Kane]

[Kane]

The whole point of this exercise is to find ways to save taxpayers money...removing the deduction does so. This can lead to drops in marginal rates. That's the goal guys. It also removes the speculative side of the equation. We're not proposing we remove the deduction to hurt everybody however debatable that point is. In a strict sense this is to remove inefficiencies.