“The generous mortgage-interest tax deduction..”
I guess that means we’ve been spoiled for too long.
Talk about killing the American Dream — first push an agenda to convince people that gov’t freebies are better than work, and now make difficult for those few who do work to own a home.
I wonder sometimes what planet liberals originated on, because I am beginning to doubt it was Earth.
This has been coming since they eliminated credit card and other loan interest deductions.
- They buy into the class warfare argument lock, stock, and barrel, and sign onto the notion of tax increases ONLY because they're punitive on a certain class of people they feel deserves to be punished.
- Which gives the powers that be the leverage they need to stick the knife in everyone's back.
This, ladies and gents, is not accidental.
I was explaining to my grandson why owning a home was better than renting. Well, somehow the benefits of home ownership are dwindling—negative equity being at the top of the list and now losing the mortgage interest deduction. Hummmmm take away the proterty taxes, mortgage insurance, home insurance, upkeep expenditures and compare it to the low rentals in areas close to me, I’m seriously beginning to wonder why the heck I’m doing this!!!
Well, yeah... you may have to pay more in taxes, but look at all the benefits...
A perfect example of how people are against “spreading the wealth” until it is their cow that is getting gored.
The home mortgage deduction is a transfer of money from people that do not have a mortgage to people who do have a mortgage.
It’s a form of spreading the wealth around—period.
No big time false collateralized MBSs, so it’s time to rein in the brainwashing of “mortgage deduction” = ownership.
* Get Rid of Fanny and Freddie and the CRDA.
* Get rid of the 250k & 500k deduction and make it equal to 15% Cap-Gains rules for your house and also change it so you can take a loss.
* Get rid of Dodd-Frank, Sarb-Ox etc etc and start over...
* You want to get rid of the Mortgage Deduction? Good trade it for 100% Deductibility of Health Care Insurance for the Individual and can Obamacare...
I am so sick of being fed a bill of goods about my home, nice place to live yes, but stop BS-in' me, about what it isn't and sticking it in the tax code to boot...