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To: rb22982

Their budgets include the tax break and to remove it is an increase in taxes. When buying a house property taxes are undoubtedly a major consideration.

You are correct about the doubling of the standard deduction perhaps washing it all out for most people.


47 posted on 10/27/2017 11:04:45 AM PDT by arrogantsob (Check out "Chaos and Mayhem" at Amazon.com)
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To: arrogantsob
When buying a house property taxes are undoubtedly a major consideration.

In a small handful of states, sure. But most property taxes is around $2-$3k a year. Add $6-8k a year in interest on a typical $200k mortgage and say $2k in state income taxes, most middle class people are already at (or below) the CURRENT standard deduction for a married couple. Even someone like myself with very high state income tax (mostly due to high income - state ends up being about 5% of pre-tax) and a larger than average property tax, and I'm very likely to benefit from this new bill. Someone in my situation in SF or NYC will likely pay higher taxes. But we shouldn't be subsidizing state/local/interest anyway.

50 posted on 10/27/2017 11:48:05 AM PDT by rb22982
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