We Can't Afford This House (no more real estate corporate welfare)

National Review Online ^ | 20 July 2010 | Christopher Papagianis and Reihan Salam

[Notary Sojac]

What’s your response to my #17 in this thread?

[Notary Sojac]

They are scammers. The institution which loaned them the money had no reason not to, because that institution will be made whole with taxpayers’ money. TARP and the AIG bailout were the precedent for this whole mess.

[SkyPilot]

If I borrow 300,000 to buy a house, the interest is tax deductible. If I borrow 300,000 to do just about anything else, there is no deduction at all.

Correct. The gubment involving itself in what it taxes. They also tax beer, cigarettes, and boats.

Good luck getting those repealed.

ELIMINATING a tax break for borrowing money to purchase a house to protest the injustice of the other taxes is biting off your nose to spite your face.

[silverleaf]

It seems to me people in your position were possibly able to steal a lot of identities and information and file a lot of fraudulent loan applications?

[Professional Engineer]

Ping

[SMARTY]

You must be kidding.

You don’t work in that environment and take advantage of what you see.

No...everything I saw there stayed there. It would be dishonest to abuse personal information about individuals.

Maybe that kind of thing is done, but it wasn’t done by me.

[silverleaf]

I wasn’t impying YOU did it! Just that some low paid clerks could have been tempted.