Canada survives without the deduction. For decades I’ve felt it needs to be eliminated. And not on the rich, but across the board. I hate this “just on the rich” nonsense.
‘Couse, if I had my way, the income tax would be the same rate for everyone, even if you made only a dollar a years. We’ll take a dime please.
Are you seriously suggesting that Canada has a better tax model than the US?
You’re an idiot if you believe that handing thousands of dollars of additional tax to the feds via elimination of the mortgage interest deduction is a good idea.
This one tax increase would gut the housing market, force down property values and force folks already on the brink due to tax increases (and de facto increases via inflation) into foreclosure.
Dumbest idea in a long time.