Valid point son of caesar and because the government is supposed to be prohibited from passing ex post facto laws, simply change the law going forward.
In fact, this should apply to ANY change in the tax code. For X number of years existing deductions of this type are allowed then if you purchase a new whatever, NO FURTHER SOCIAL ENGINEERING.
See why I said it is insidious? They hook the taxpayer with the deduction lure and now the taxpayer is forced to stay on the line.
Taxes are to support the legal functions of the government as WE THE PEOPLE allow. Any other purpose is a road to ruin.
Anyone who gets themselves that far in debt because they have a tax deduction cushion is flirting with danger and should know better.
I can't believe what I'm hearing here. When people make their decisions on where to live and how to invest their money to make more money the mortgage tax deduction pays a huge role. What is wrong with that? We're not talking about people who are in debt. The class envy here is just flooring me.