Proposals could cut mortgage deductions

San Jose Mercury News ^ | 8/29/09 | Kenneth Harney

[GOPJ]

The “Obama Elite” might live in the fashion you speak of - but if you look at most socialists countries, “the people” live in crappy high rise boxes. Liberal elites would have us all living in Cabrini-Green if they could get away with it... I lived in Chicago's Hyde Park in the 60’s - the elite intellectuals lived in nice brownstones - the “poor” lived in public housing that reduced them to little more than animals. And yeah, I lived in a great brownstone - with my socialist, extended Shimer/University of Chicago family - but I visited Cabrini-Green - I know what horrors liberals can come up with...

[GOPJ]

Tell me about Manhattan... What has happened?

[ConservativeInMaine]

It’s the safest urban area in the world.

[ecomcon]

What do you say to Regulator’s post #15?

[ConservativeInMaine]

My post wasn’t necessarily about the virtues of city living vs. suburban or rural living, only to state that many people live an urban lifestyle by choice because it is what they enjoy, and also to point out that renting does not make someone “broken” or otherwise easy to control or whatever it is that was being implied.

Many many homeowners are heavily indebted to banks. These days, many of those are indebted beyond what they could repay even if they sold their homes. How is that a more free, unencumbered, liberated way of living than renting?

I have the freedom to pick up and move whenever I choose; I have the financial flexibility to save my extra income in a variety of ways. Yes...I have given up some things: many people truly did become wealthy because of their home investments...but not most of the people my age, many of whom are currently struggling with sagging home prices. I obviously will not become wealthy renting an apartment, but it is a lifestyle that has some benefits which shouldn’t be ignored.

[Secret Agent Man]

Re-pa-ra-ti-ons. In camoflage. If it helps some porr whites well that’s not what was intended but we gotta appear unbiased and keep people unawares to what we’re doing.

[xkaydet65]

On the issue of student loans you will find me in 100% agreement. There is a reason that over the last 40 years medical costs and student tuition have increased at thrice inflation. It’s called third payer.

[xkaydet65]

I was replying to #37.

[ecomcon]

Bigger homes use more energy. The deduction is therefore implicitly urging Americans to run higher electricity bills and spend more on home heating. If global warming is a serious problem, then the government should be encouraging us to live in smaller, not bigger, dwellings.

This from a "libertarian"? Statist declarations from on high about what kind of home we should live in?

[paul51]

What do you say to Regulator’s post #15?

I'd say don't tax the income or the expense. Get rid of the IRS and get the government out of manipulative tax code schemes that create more problems and more government. A simple, flat consumption tax can fund what we need to.

[dfwgator]

The damned AMT was already taking a good portion of it. Now they want to kill off the rest.

[blam]

"That is not $1.1 million of interest, but interest on a $1.1 million loan or loans. Not well worded. "

The writer was probably educated by a union member.

[Regulator]

I know. Was basically just agreeing with/reinforcing your comment.

Seems everyone including the so-called "Republicans" forgot the principle of no double taxation.

[GOPJ]

That was Guliani's broken window fix up. It's held for years - that and the lawful fallout of welfare reform. But trust me - those reforms were done by conservatives. Pushed by them against all democrats. Clinton signed it - but none of the details were his idea - and the SAINT Kennedy voted against it. And until those ideas worked - liberals were totally against them.

I liked living in a large city - but the more liberal ideas involved - the more horrors.

[GOPJ]

Another example, student loans. They were supposed to ‘help’ students pay for college - instead they help colleges raise their tuition at something like twice the rate of inflation (if not higher). Net effect...a bunch of VERY WEALTHY professors of the humanities and a bunch of shattered lives from people who got stuck with the loans.

I just don’t like the distortions created by the government...perhaps others don’t mind (or don’t see the whole picture).

-

For people who can "see" - these are "consequences". For those who can't see down the road, they're "unintended consequences". For liberals they're "we feel we are helping students, so we are helping students and if you show us facts contrary to our "feelings" it means you hate students". Or some such irrational garbage...

[GOPJ]

As soon as most are renting - the gov will put the screws to renters.

[FrankR]

"The incentive is you need to keep you and your ass dry and warm, not to mention the family. "

I've been handling that "incentive" quite handily for over 45 years now, thank you. My frustration with an asinine suggestion for a "bill" was not an invitation for lifestyle advice. Oh, and my family is just fine...dry AND warm.

[rolling_stone]

It's the continual changing of tax laws and social engineering that have to stop. Take the power away from Congress and pass the Fair Tax now.

Government should not be able to “incentivize” via tax breaks all aspects of our lives, let the free market work. Look what happened when Congress tried to make home ownership available to uncreditworthy people, we are paying for that now, WHY?

[org.whodat]

Good deal so you really don’t need the tax welfare check.

[FrankR]

"Good deal so you really don’t need the tax welfare check. "

Well, I wouldn't want to "cheat" any obamaites out of their subsistance...