LadyJazzer wrote: So, let's tailor the mortgage deduction to "only apply to the first $500K"..."$400K?"... "$800K?"... Pick a number... Keep the deduction for the middle-class to help them get into their primary residences. Limit it to primary residences only?
Of course, I realize that flies in the face of plutocracy that you envision where the uber-rich should have as many houses as they wish; and screw the middle class. There's never any "Let's see if we can fix it, and do something that will help the middle-class, but stop giving gifts to the upper class who don't need it"--No, there is only "Let's cut it."
But it's good to know we have people out there who are eager to decide what others "need" and "don't need."
So since you get a mortgage tax deduction, it is a good thing? But giving a depreciation tax credit for oil companies is a bad thing? Interesting.
Canada doesn't have the mortgage tax deduction and has the same rate of home ownership as the US. I believe this deduction only increases home prices, so get rid of it.
Thomas Sowell: There are no solutions, just trade-offs.
Canada also has a decent health-care system... Are you saying we should emulate Canada in all things?... If that's your premise, I'm DEFINITELY on-board with that. Let's get their health care system and give up the mortgage deduction... Good trade.
LadyJazzer wrote: But it's good to know we have people out there who are eager to decide what others "need" and "don't need."
For some reason I don't think you are talking about the government when you say this. For some reason I get the impression that you think this is precisely the major function of the general government - to decide for all of us that we need and don't need.
I'm all for the stupid tax- there should be a question on the tax form....
Did you vote for any Democrats in the last tax year, enter a "2" in box 4a, if you didn't vote for a democrat, enter a "1" in box 4a.
If you entered a 2 in box 4a, multiply the taxes you owe by the number in box 4a. This is your modified taxes you owe for voting for big government.
I also think we should eliminate the mortgage interest deduction- it is an incentive to own a home and tilts the playing field in favor of home ownership. While I think everyone should own a home, if this deduction is the deciding factor- you should not buy a house. The reasons for owning stand on their own without this government deduction.
BearMtnHIB wrote: I also think we should eliminate the mortgage interest deduction- it is an incentive to own a home and tilts the playing field in favor of home ownership. While I think everyone should own a home, if this deduction is the deciding factor- you should not buy a house. The reasons for owning stand on their own without this government deduction.
:VeryScared: Aaaaa! We agree!!! :VeryScared:
"Now, more than ever, the illusions of division threaten our very existence. We all know the truth: more connects us than separates us. But in times of crisis the wise build bridges, while the foolish build barriers. We must find a way to look after one another as if we were one single tribe.” -King T'Challa, Black Panther
The truth is incontrovertible. Malice may attack it. ignorance may deride it, but in the end, there it is. ~Winston Churchill
And what are your feelings on the tax exemption for children SC? Are they consistent with your feelings regarding the one for mortgage interest? How about the ones for charitable contributions? How about the one that you get for the mileage you put on your car traveling to and from work? Home office deductions? How about the one you get for the myriad of taxes that you pay - including the property taxes on the property that you have purchased or own? If taxes and tax revenue are not to be decided at least in part on promoting or discouraging behavior, why should groceries not be taxed but alcohol allowed to be taxed? Why should the government be able to punish you with a tax for not purchasing health insurance if the ideal is that the tax code should not include portions to encourage or discourage behavior deemed beneficial or harmful by the government?
And what are your feelings on the tax exemption for children SC? Are they consistent with your feelings regarding the one for mortgage interest? How about the ones for charitable contributions? How about the one that you get for the mileage you put on your car traveling to and from work? Home office deductions? How about the one you get for the myriad of taxes that you pay - including the property taxes on the property that you have purchased or own? If taxes and tax revenue are not to be decided at least in part on promoting or discouraging behavior, why should groceries not be taxed but alcohol allowed to be taxed? Why should the government be able to punish you with a tax for not purchasing health insurance if the ideal is that the tax code should not include portions to encourage or discourage behavior deemed beneficial or harmful by the government?
Ahh - come on PS- you know how a liberal is going to respond- they will pick and choose which ones they like- the others are evil.
And what about you PS- as for me, I don't think government should be in the business of modifing behavior with tax law. This is how the government uses us all as puppets on a string, they get to pick the winners and losers.
As a good libertarian- I would eliminate all tax deductions- have a flat tax of say 10%- 15%, and have a level playing field for all. GE pays the same tax rate as mom and pop.
