[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.

[BobL]

“Most “upper middle class” people don’t get any deductions because they have to pay the AMT.”

I guess it depends on the specifics, but the AMT Patch, as they call it, manages to exempt most upper middle class people. But yea, you can still get tripped up if you have, say, $150k income, high property and state income taxes, and 6 kids. You may well wind up having to pay 10% or so in federal income taxes.