Lower the rates(preferably a one rate flat tax) and eliminate ALL deductions, even the sacred cow mortgage interest. You want to buy a big house, God bless you, just don’t ask my tax dollars to subsidize it.
"...and eliminate ALL deductions, even the sacred cow mortgage interest."
Earth to almcbean...
So your plan is to forcefully crater the economy starting with the already weakened and beaten down housing industry. You want to kill business R&D, destroy investment in machinery and tools, and you support double taxation by eliminating the deduction from the federal taxes all of the local taxes assessed.
I'm also assuming you want to do this in an abrupt fashion to make sure that it is impossible for anyone to prepare for the massive onslaught of taxes other than sheer liquidation of assets for pennies on the dollar.
I think I prefer Obama's plan to destroy America over a couple years rather than yours to destroy it totally right now.
There is no subsidy for a mortgage deduction. Must remember, its the peoples money, not the governments. The deduction only reduces the amount of income.