[JimRed]

No deductions, exemptions or anything else other than DIRECT costs for companies.

No mortgage interest deductions? How about as a business expense for the owners of rental property? Would it even make sense to own a home, rather than rent? Would it make sense to own rental property? Watch out for unforeseen consequences!

[freedumb2003]

>>No mortgage interest deductions? <<

No.

>>How about as a business expense for the owners of rental property? <<

I specifically called out allowing direct expenses.

>>Would it even make sense to own a home, rather than rent?<<

Anyone who thinks it is better to own instead of rent b/c of the mortgage interest exemption is too stupid to understand real estate and should be forced to rent

>>Would it make sense to own rental property? <<

If you want to make money, yes. You see, you purchase a property for X and then rent it to people until the total of all the rents over time exceed X (this is called “profit” and this is a very simplified example). Some people make money this way. Some do not. The ones who make money will be taxed on the amount they make after subtracting direct expenses.

>>Watch out for unforeseen consequences!<<

I see: the current system is much better.