What is ‘this’?
I am to the right of Attila the Hun, but have always thought that deducting mortgage interest was “unjust”, to use one of the left’s favorite words. This tremendously benefits the wealthy who have expensive, appreciating homes. It does nothing for the poor who typically rent or own very modest dwellings, like mobile homes. This has leveled the field a little.
“ The one in New York, for example, allowed taxpayers to take the amount of state tax in excess of $10,000 and make transfers to funds controlled by state or local governments, or other transferees specified by the state, in exchange for credits against the state or local taxes.
They described these transfers as “fully deductible charitable contributions for federal income tax purposes”