Sure it does. The median home price varies wildly by state. Prescinding from that point, individuals can buy higher priced homes in Mississippi because of that interest deduction. Finally, it’s discriminatory against renters.
But that state tax deduction….THAT is evil. Let’s hurt the inhabitants of those states so we can feel warm and fuzzy. They’re all libs anyway, right?
Yes, I am not a collectivist. I put my family and The Holy Trinity ahead of everyone else. My actions aren’t forceful nor fraudulent. I harbor no shame about that.
To that point, I don’t go around advocating for tax increases on my fellow man because I’m unhappy about perceived negative externalities arising from Taxachusetts. This cap is all about anger, envy, and power - which are textbook leftist traits.
Be well.
Renters don’t get a mortgage deduction but rarely if ever pay property tax directly (yes it’s hidden in their rent). But I’ve argued enough.
I would be happy with a simple flat tax and get rid of the code and irs.
If I could add one more thought to my last reply, I don’t like anything that hides the tax burden from the tax payer.
In the renters case, the property tax is hidden. The renter pays it but never has to ‘see’ it. So when local tax initiatives come up for votes, renters are all for the new ‘services’ or community ‘improvements’ since they don’t see the hidden costs that a homeowner sees.
SALT similarly hides your state tax burden with its ‘deduction’ and reduces the pressure on states to cut spending on stupid stuff.
Income tax withholding also hides to some degree the tax burden. Do people really think they are getting a refund? If they had to pay the bill out of pocket each year they would be upset beyond words.
V/R