Would you support eliminating the mortgage interest tax deduction for future home purchases?
Ray, I think you (and me) are showing your age. Interest stopped being deductible when Reagan did his tax reform in 1986. LOL!!!
I voted for keeping the deduction. However, with interest rates so low, the deduction is becoming less valuable. I wouldn't mind capping the rate or the amount of the loan subject to the deduction though.
Of course, that is why the debt ceiling needs to go up. Cuz we all got to have ours.
Yes. I'm for eliminating any tax.
If any of the 29% have "purchased" a home - I am sure that WE are paying for their house, food, drug rehab and their bastard kieedzzzzz.
I am tired of it.
Rich Homeowners? What garbage.
In another time we would have strove to be better ourselves when we were confronted with people who create success.
Now you choose to punish them.
Great now we can all be jpoor and lazy together.
You have been promoted to Congress - if you would actually want that position.
How do you manage to tie your shoes?
Must be of the slip on variety.
This would be a tax increase - Dummy!
Less than 30% of the population itemizes their taxes.
Those of us who do are being targeted by this - we the 30% who actually work hard enough that the standard deduction is not a good deal should be angry w/ this BS. Gov takes away and farts it away. F That.
The point of married people getting tax breaks is so that they have more children (future taxpayers) and raise them in a stable environment (which contributes to lower violent crime rates).
I don't support taxes in general, but I'd rather eliminate this deduction than raise tax rates overall.
I don't think the government should be in the business of trying to shape our society through its tax policy. I also think the mortgage interest deduction, low interest rates, and a lot of government incentives led to the housing bubble.
I said yes, because I am open to proposals. If it is done, without any other reforms, then no. But, if we can simplify the tax code and make sure that everyone pays in, then yes, get rid of the deduction.
Only if packaged with a reduction in tax rates
I'd support eliminating it for second homes, though.
It was only a few years ago that all interest was deductible - even credit card interest.
The problem is that it is all too complicated. There are inequities and inaccuracies. Most tax returns are inaccurate. We need flat tax so that the players have to play with the same rules we get.
It's like welfare for rich homeowners.
I'm glad that you think it's so spiritual of you to demand money from others to support all of us idiots who aren't able to make the type of income you do. Does it make you feel morally superior to demand the extortion of money from others to help us little people?
I'm in the > $250k income group, but I think it's a moral and human imperative to help those who haven't lucked out in life. I'm sorry, but the notion that we all started with an equal income potential is a bunch of malarkey. Sorry, I'm not a greedy S.O.B. Other wealthy spirituals share this view.
Btw, I'm not hoping it will happen I'm making it happen.
I think you miss the point. I don't WANT other people's money. do you plan to continue being poor so your irrational policy positions continue to make sense? It'll probably take 7 exams and 10-15 yrs till I make over $200k. It will happen though so you can start hating me now.
tax wise, it's like they're saying get married or pay more taxes. they need to change that..
depending on income..I was hearing Rush Limbaugh vent about this, and o kept thinking that this dipshit made more than Obama, and even though Obama ain't poor, millionaires can afford to pay more. But single people who are homeowners, should get some too..single people get screwed
@tjm120 Will you make greater than $250k after you've obtained your degree? If not, then the dems current policy position benefits you more at the moment.
That deduction should be eliminated completely. We should not have government subsidized housing.
Why do Democrats think that they themselves are the government, and that raising someone else's taxes benefits them in any way?
Done. It's the dems who seem to think that you're too stupid to take care of yourself and need the gov to do it for you. I'm telling you that I started from poor beginnings and spent most of my life waiting tables. I'm not special, you could do it too if you try. Don't "hope" make it happen.
Others. We realize that many of those people did exactly what we're doing and we don't want to be penalized we don't expect others to be. At the age of 37 I'm about to finish up my actuary degree. I've worked hard to get here and what we believe is that most everyone is capable of doing what we've
We don't "hope" for anything. We go out work hard and make it happen. Sitting around "hoping" for money to magically appear from the gov doesn't get you much. We work extra shifts, take night classes, start businesses and in general bust our butts. That's why we don't feel it's right to take from
Do middle class republicans just hope they're wealthy some day so their irrational policy positions make sense? Why else would you want to give more money to a "pig" that's already full?
You landlord would pay more, therefore your rent WILL go up
Mortgage interest and dependents are just about the only deductions i consider legit.
Only of there's a flat tax.
Knowing the Feds and my screwed up state they'll take the money and spend it on more stupid programs benefitting their donors pet projects.
Do the 29% who voted yes own a home. Housing will never recover if they do this.
I answered no, but support it in this situation
They gas efficient car credit (can't remember the real name), credit for using solar panels and other green energy, special tax breaks to start businesses in run down areas, what you pay for healthcare is tax exempt to get you to buy healthcare...list could go on forever.
Low flat tax with zero loopholes, credits, exemptions. Besides, subsidizing and distorting the housing market (and all markets) is harmful -- for housing it led to the subprime mortgage crisis.
But only for those making below $200,000 per family, per year and only on one residence per family.
Haplotter2 with interest rates as low as they are you'll reach the point where the there isn't enough interest to deduct long before it's paid off. If you calculate how little the deduction is actually saving you per month, you might find yourself drooling over new digs sooner than you think.
More punishment to the smart working
Home values go down.
Property tax revenues go down.
Schools lose revenue.
Vouchers become reality.
Home building market tanks.
Illegal workers are unemployment
Immigration problem solved
Rich people pay more taxes
I would only support this in the FairTax
Yes the child credit, mortgage interest deduction, and just about everything else.
first of all we need to reduce spending, but after that im kind of the opposite of spread the wealth...i think we need to spread the tax burden...to many people pay no taxes
Let's eliminate yet another tax deduction for the working middle class!
I would not move without the tax break. I would stay in my current home to keep the mortgage deduction for as long as it lasted.
Ideally, I'd like to see all deductions other than charity eliminated and the rates lowered all around...or the elimination of the income tax altogether, but I won't hold my breath.