Have they completely lost their minds?
Would those poor folks who were forced into subprime loans by evil bankers and whose houses exceed 3,000 feet also lose their deduction? Hmm?
Bit discriminatory against folks that live in cheaper areas, too.
2007 article.
Another frikken socialist crawls out of his 'rat hole.
Democrat Crime/Collectivist/Socialist Syndicate BUMP!
Socialism is out in the open and on the march.
2007 article.
I hope they remember some people have BIG families. Some adopt, some take in foster children, etc.
This is a very old article. But I did recently hear this being a current issue in the after election session of congress. I did a search and could not find it. Perhaps a smarter Freeper will post for us.
And so we watch as climate change becomes a “Do whatever we want” license for Big Brother. Whoever thought that the weather could contribute to the erosion of freedom.
BITS is coming. Never thought I'd see it, but I'm now sure I will.
FMCDH(BITS)
Dumb. Stupid. Unreal.
Also, if the government can decide that it’s 3k sq ft, who’s to say later on the govt doesn’t decide to reduce that to 2k or more?
Holy crap are these mofos against any kind of private wealth or property ownership whatsoever? Seriously. What’s with these envious pieces of sh*t?
Home stopping at 2,990 to 2,999 sq. ft. will be great.
Between this and the 401(k) murder-death-kill, I think that the Dems are overplaying their hands. As far as they are concerned, Obama has already been crowned and they are slobbering over all of the nifty socialist programs they get to shove down our throats. They can barely contain their communism, but I believe it will come back to hurt them.
So they are going to discriminate against people with large families?
I can’t fit my Catholic family in anything less, and frankly 3000sqft is not a Mansion. When all of us are home for the holidays, we walk into each other.
So the democrats are going to go after Catholics, Mormons and large families to enforce population control.
I know this little nasty tax would not apply to democrats like Charlie Rangel because he got HIS big tax break on his No-interest mortgage, which, btw, is not available to non-democrat leaders.
*tongue-in-cheek (but could make a useful, if completely inane, political jab.)
With such a law we could completely destroy the real estate market for the next 50 years. All those foreclosures will go on the market and drive down property values enough so we can bankrupt every county and city in the country. This is like a mortgage Armageddon... Go ahead and pass this... we will have a Republican majority within 2 years.
Blacks and Latinos in general own majority of small houses as they fall under lower income and they will get tax benefits.
Whites and Asians will receive no such credit as they own big houses thus giving more of their wealth to Obama.
Obama and Democrats have declared race war against Whites. Somebody needs to stand up against them.
Obama and democrats have declared war on Whites and Asians.
Unintended Consequence: some people can afford their existing home because of the tax law as it was when they signed the mortgage. Removing some of their mortgage deduction will not only decrease the amount of money available to make the payments, it will tend to boost the tax family’s tax bracket!
Yet another reason for the Fair Tax.
Wow! Giving total governmental power to the most extremist maggots in our society was a brilliant idea. The brilliance of the people living in this country never ceases to amaze me.
Gee. I guess the upside on this is that I can use the 1040EZ form instead.
Yeah, this would really help homeowners. Also, there’s the more practical matter of how this would even be enforced? I guess they can force lenders to identify if a home meets a certain classification when they send in the interest paid form to the IRS.
Got d@mn who are all the morons out there who want the government sodomizing them like this?
Seriously, something like this would just kill the housing market and any potential recovery, just as all of the bad mortgage paper is being worked through the market.
This election is like one big national IQ test.