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To: Tribune7
A provision to allow homeowners to deduct local property taxes without itemizing was let lapse. About two-thirds of Americans don't make enough money to make it worth itemizing.

Sounds like it is worth it for them to itemize now.

20 posted on 01/18/2011 11:41:54 AM PST by thackney (life is fragile, handle with prayer (biblein90days.org))
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To: thackney
Sounds like it is worth it for them to itemize now.

But that's the point, not necessarily. They had been getting the property tax deduction automatically.

The standard deduction may still be greater than an itemized deduction even including the property tax deduction, whereas under the previous policy even without itemizing they would still get a break.

IOW, Obama, Pelosi and Reid have given the royal shaft to low-income homeowners.

30 posted on 01/18/2011 11:53:14 AM PST by Tribune7 (The Democrat Party is not a political organization but a religious cult.)
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