[yldstrk]

but I bought it as an “invuhst muhnt”...............

sheesh, like you get a tax break for having a huge unpaid debt

people are so stupid

[dangerdoc]

The majority of most people’s net worth is their house. Doing away with the mortgage deduction will decrease the value of their largest asset.

Doing away with the mortgage deduction would be right up there with confiscating 401k accounts as a way to harm working people.

[old and tired]

but I bought it as an “invuhst muhnt”............... sheesh, like you get a tax break for having a huge unpaid debt

Yes and no. You have to pay to live somewhere. People know how much they can afford versus renting based on that tax deduction. Several of my kids bought their first homes with a monthly payment identical to their rent payments. After the tax deductions for property taxes and mortgage interest, owning the home was actually cheaper.

By the way, I completely support a flat tax and would love to see the mortgage deduction taken away. As an added bonus, it'd hit the limosine libs hard. ;)