End the Mortgage Interest Deduction? Expect a Fight

wall.street.Crooks | Feb 28, 2013 03:40 PM ET Go after the C0kksukkers that reap billion in profits and pay zero in income tax first. You can start with GE.

thereugoagain | Feb 28, 2013 03:45 PM ET This would be tough ....BUT ...if you are going to do a TOTAL tax reform package ....I believe ALL "loopholes" should be eliminated and THIS IS a loophole .... Hahahaha ....I can hear the screaming already ....BUT ...one man`s .....deduction ..... is another man`s (or woman`s) loophole. If we start over ...fresh ...why should i help pay someone else`s mortgage through my taxes???? You don`t want to help pay for a millionaire`s jet plane right??? Well I don`t want to help pay for that millionaire`s first or second house either ....and I don`t want to help pay for yours either ....

Hawkman1950 | Feb 28, 2013 03:53 PM ET Washington and Wall Street won`t focking be happy until they take away every last write off the middle class has. These focks are "SO" out of touch with reality it isn`t even funny. I am so glad I got rid of my house and am retired living full time in my fifth wheel. This country is just a fart away from total failure.

Hawkman1950 | Feb 28, 2013 03:54 PM ET All i can say for you "YOUNGER" people is you better wake the fock up and take back "YOUR" government before its to late.

ProfWatson | Feb 28, 2013 03:56 PM ET Canada has a single payer health plan and no interest deduction. Canadians are happier than Americans. The interest deduction is just a subsidy for banks. If the interest deduction is kept, then loans under $425,000(the old FHA limits for various cities) would be the only ones that qualify.

btg306 | Feb 28, 2013 04:13 PM ET The Home Builders Associations, Realtors Associations and the American public will make more noise about this now than they did back in 1986 when it was last discussed by Ronald Reagan. ...the deduction will remain.

jswanstr | Feb 28, 2013 04:14 PM ET Unless someone has other deductions, at 4% interest rates, a family of four would only save on their taxes if they borrowed more than 300k. Even if they borrowed 400k, they would only save about $1,000.

jswanstr | Feb 28, 2013 04:16 PM ET This is not really a middle class tax cut. You have to have way higher than a median home value to take advantage of this. Only the rich get anything from this.

afaceinthecrowd | Feb 28, 2013 04:29 PM ET After they do away with mortgage interest deductions the next move is obvious. Soylent Green. Large numbers of middle income Americans could be ground up and turned into highy profitable Soylent Green snack food, for sale to the survivors. After that, tax cuts for the job creator rich guys. Then, a bailout folowed by bonuses for the banker class.

ConservativeThinker | Feb 28, 2013 04:31 PM ET We need a tax plan that is as easy as XYZ. You made X You owe Y Pay to the order of Z Then we can reduce tax rates AND kill off all the Lobbyists!






Start a Conversation - Add Comments

Your Comment: ( Please enter all fields and security code. )

Name:
Email:
Website:
Topic:
Comments:
 
Word Verification:
 

Latest Comments

Rushing Into a Mortgage Can Be Costly - thinkaboutit | Jan 18, 2013 04:04 PM ET Unless you are going to live in the house for 30 years, I do not see the benefit to paying points.

gruntspeak | Jan 18, 2013 04:46 PM ET The ol... - by Bone822

Home owners are stuck with losses - Eddie Fadel
February 26, 201 @Geno Bronzi @Eddie Fadel where can you build home with basement or partial brick for $50 to $55 a sp ft? Are you referring to manufactures homes perhaps?
AtlantaB

Fastest growing boomtowns - Chad Ladwig1
March 29, 2013
− What`s common amoung these towns, low unempoyment rates, good incomes and far better than average economy. 16 1 Reply

HouseMD

first time home buyers back in the market - LoganMohtashami | Feb 14, 2013 12:44 PM ET If you take an economic view of it.. We clearly don`t have the traditional or first time home buyers back in the market as strong as the cash buyers have be... - by CatGB24

Housing Recovery Spurs Pickup in Remodeling - duck33 | Jan 23, 2013 10:40 AM ET Last week when the weather was a little nicer I road my bike around the island I live on and counted 15 construction sites all but one were mexicans speaking spanish... - by EXXCC



End the Mortgage Interest Deduction? Expect a Fight

Real Estate Agent Directory

Are you looking for a real estate agent in your area? At housing news blog, you can search for your local realtor and real estate service by using our agent search features.

Real Estate Agent Directory

Get listed!

Are you a real estate agent? Get listed for free with us! Complete a real estate agent profile form and get listed in a few days. Click on the link below to get started!

Free agent profile!