[Thermalseeker]

This means that aside from people in the top economic stratosphere, this won't affect most Americans.

Really? When was the last time you received a paycheck from a poor man?

[lewislynn]

Really? When was the last time you received a paycheck from a poor man?

As if everyone who hires someone is rich. Many small business owners earn less than their employee's.

[Arizona Carolyn]

Thank you! One area I support the administration on is lowering taxes on everyone and businesses.. lower taxes on business mean more hiring onshore instead of China and more hiring onshore brings more money into treasury and it's a win-win for all... because it also lowers the cost of goods made domestically when taxes are lowered without reducing salaries...

I think they really should have put business people instead of professors on this panel... they just do not live in a real world... something we all knew in school, learn theory and then go out and learn reality.

[coconutt2000]

Really? When was the last time you received a paycheck from a poor man?

Never. Like I said, a change like this in the deduction would probably depress sales of expensive properties, or at least reduce the size of mortgages.

But my opinion remains the same that this particular proposal will not affect most Americans, and those Americans whom it will effect will have a variety of options in which they'll be able to take advantage of the proposed reduction in the deduction up to the limit, and whatever funds that are no longer used to purchase property will be redirected toward other investments, or used to purchase fewer properties with larger down payments and smaller mortgages.