[BobL]

“I bought a house and never benefited from the “sacred mortgage deduction”. I suppose if I had bought out of my range it might have been different, but I wonder how many middle class folks actually save anything with it. I would hazard a guess that they are upper-middle-class and/or spending more than would be prudent.’

That is correct. The Mortgage Interest Loophole (as Rush calls it) doesn’t affect the bottom half of taxpayer, since the standard deduction is so big. The REAL WINNERS from this are, just as you say, upper middle-class (and higher) people with large mortgages (i.e., in BLUE states). Let them sacrifice for once.

[Monorprise]

“That is correct. The Mortgage Interest Loophole (as Rush calls it) doesn’t affect the bottom half of taxpayer, since the standard deduction is so big. The REAL WINNERS from this are, just as you say, upper middle-class (and higher) people with large mortgages (i.e., in BLUE states). Let them sacrifice for once.”

Now you sound like a Liberal, that being said loopholes & deductions in the tax code are bad economic policy period.

[FreeReign]

The Mortgage Interest Loophole (as Rush calls it) doesn’t affect the bottom half of taxpayer, since the standard deduction is so big. The REAL WINNERS from this are, just as you say, upper middle-class (and higher) people with large mortgages (i.e., in BLUE states). Let them sacrifice for once.

Let who sacrifice for once?

Most "upper middle class" people don't get any deductions because they have to pay the AMT.

To say that they are benefiting from mortgage deductions and that they don't sacrifice is absurd.