When I was working I always took advantage of the mortgage interest deduction. But I never thought it was fair to renters. They didn’t get to deduct their monthly rent payments. Mortgage interest deductions were there because of the powerful home builders lobby. And I sold houses for decades and i can’t remember ever seeing someone buy a house because they could deduct the interest even though I tried to use it in my sales pitch.
Renters sill be taking a $12,600 personal deduction this year.
Couples will get $25,200.
I think you can relax.
Very good point about renters never getting a deduction. And so true, no one buys a house just to take the interest deduction, what a joke.
The philosophical problem is that individual tax slaves are not treated the same (for taxation) as are bidnesses, when the tax slaves are really a bidness supplying the governments with tribute.
When I was working I always took advantage of the mortgage interest deduction. But I never thought it was fair to renters. They didn’t get to deduct their monthly rent payments. Mortgage interest deductions were there because of the powerful home builders lobby. And I sold houses for decades and i can’t remember ever seeing someone buy a house because they could deduct the interest even though I tried to use it in my sales pitch.”
When I bought my first house at 26 the deduction was the main selling point. Gone now, though.
It used to be that one could not vote unless one owned real property.
...I never thought it was fair to renters. They didn’t get to deduct their monthly rent payments.
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Homeowners also have to pay real estate taxes. Do renters?
...I never thought it was fair to renters. They didn’t get to deduct their monthly rent payments.
(((
Homeowners also have to pay real estate taxes. Do renters?